Climate change could ruin Christmas as Panama Canal dries up
A drought in Central America is slowing the passage of container ships through one of the world’s busiest trade routes.
The impact of a record-breaking drought in Panama has spread beyond energy supplies and is now affecting container shipping, a crucial sector of the global freight market that moves everything from campervans to Christmas toys. Sudden downpours in the Central American nation may not be enough to mitigate changes to the way trade operates.
Low water levels outside the Miraflores locks of the Panama Canal near Panama City. Bloomberg
Bloomberg Opinion
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