Aug. 23 (UPI) — The global shipping industry is facing challenges due to congestion in two of the world’s busiest waterways.
Hundreds of ships are currently experiencing delays as they queue for passage through the Panama Canal. In addition, the Bosporus and the Dardanelles have been closed to shipping due to ongoing wildfires in Turkey.
Due to severe drought conditions, ships are facing obstacles in transiting the Panama Canal and reaching their final destinations.
The Panama Canal relies on fresh water to fill its locks and enable ship passage. Typically, the water is then discarded into the ocean. However, the drought has led authorities to recycle lock water, and the number of ships allowed to transit daily has been reduced from 36 to 32.
As a result, shipping companies are being charged additional fees for using the canal, prompting some to redirect their vessels to avoid further delays. The estimated losses for Panama are expected to reach $200 million.
Several ships are projected to spend weeks navigating the canal, leading to potential increases in food and fuel prices worldwide.
Meanwhile, the Bosporus and Dardanelles straits have been closed in Turkey to facilitate firefighting efforts against local wildfires, leaving hundreds of cargo transport ships stranded.
Mustafa Can, the chairman of Turkish shipping company Transbosphor, reported that approximately 300 ships are currently awaiting passage through the straits.
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