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Search resuls for: "Ricaurte Vásquez Morales"


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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPanama Canal curbed transits to meet challenges of demand, says waterway administratorRicaurte Vásquez Morales, administrator of the Panama Canal Authority, comments on how a downturn in falling rainfall trends is affecting one of the most important waterways in the world.
Persons: Ricaurte Vásquez Morales Organizations: Panama Canal Authority Locations: Panama
Panama Canal Drought Slows Cargo Traffic
  + stars: | 2024-01-26 | by ( Mira Rojanasakul | ) www.nytimes.com   time to read: +8 min
PANAMA CANAL Colón Atlantic Ocean Lake Alajuela Gatún Lake Panama City PANAMA Ship traffic Pacific Ocean PANAMA CANAL Colón Lake Alajuela Atlantic Ocean Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Colón Lake Alajuela Atlantic Ocean Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Ship traffic Pacific Ocean PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic Source: MariTrace Ship movements from Jan. 19 to Jan. 21, 2024. Panama Canal Drought Slows Cargo TrafficThe lake that allows the Panama Canal to function recorded the lowest water level ever for the start of a dry season this year, which means that vastly fewer ships can pass through the canal. The Panama Canal Authority has reduced daily traffic through the narrow corridor by nearly 40 percent compared with last year. “The fact that the Panama Canal operates on freshwater is a major disadvantage compared to other water routes,” said Ricaurte Vásquez Morales, the administrator of the Panama Canal Authority, in a video address last month. But it may not be enough to meet the pressing demand for cargo traffic through the Panama Canal.
Persons: El, Jan, , Ricaurte Vásquez Morales, Gatún, Joshua Tewksbury, Gloria Arrocha Paz, Arrocha Paz Organizations: PANAMA Ship, Panama Canal Authority, Maersk, Panama Canal, Smithsonian Tropical Research Institute, Demand, Times, Smithsonian Tropical Research Locations: PANAMA, Lake Panama, Panama City PANAMA, Lake Panama City PANAMA, Panama, East Coast, United States, Northeast Asia, South America, Tewksbury, Indio, Gatún, Panama City, Panama Canal Authority, What’s
The Panama Canal Authority has further restricted the number of boats that can cross per day. Traffic restrictions in August caused a backlog of hundreds of ships waiting to cross. AdvertisementAdvertisementThe Panama Canal Authority further reduced the number of boats that can transit through the strategic waterway, which has been hit by an intense drought. Unlike the Suez Canal, which relies on seawater, the Panama Canal uses freshwater from an artificial lake to supply its waterway. AdvertisementAdvertisementBecause of this, the canal authority has had to ration the transit through the Panama Canal locks, per the AP.
Persons: , Avance Gas, Ricaurte Vásquez Morales, Vásquez, France24 Organizations: Panama Canal Authority, Service, Avance, French Locations: Panama, Suez, France
A ship navigates through the Panama Canal in the area near the Americas' Bridge in Panama City on April 24, 2023. The Panama Canal is a critical trade link for U.S. shippers heading to Gulf and East Coast ports. The U.S. is the largest user of the Panama Canal, with total U.S. commodity export and import containers representing about 73% of Panama Canal traffic. The massive pileup is a result of water conservation measures the Panama Canal Authority deployed in late July due to drought. West Coast ports saw a decrease of 38.3% in July trade, and top East and Gulf Coast ports processed an increase of 46.4%.
Persons: Luis Acosta, Max, Adil Ashiq, Ricaurte Vásquez Morales, Ashiq, Descartes, Stephen Lamar Organizations: Afp, Getty, Panama Canal Authority, Labs, Planet Labs, PCA, Port, MarineTraffic, American Apparel & Footwear Association Locations: Panama, Americas, Panama City, Gulf, East Coast, U.S, Pacific, Port of Balboa, Port of Savannah, North America, Gatun, Coast, West Coast
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat the Panama Canal is doing to fight a severe drought challengeRicaurte Vásquez Morales, administrator of the Panama Canal Administrator, speaks with CNBC's Lori Ann LaRocco about how drought is affecting the vital trade artery and shippers, and the steps it is now taking.
Persons: Ricaurte Vásquez Morales, CNBC's Lori Ann LaRocco Locations: Panama
Forty percent of all U.S. container traffic travels through the Panama Canal every year, which in all, moves roughly $270 billion cargo annually. "The U.S. is the main the main source and destination of our traffic," said Ricaurte Vásquez Morales, administrator of the Panama Canal Administrator. The Panama Canal is popular for East Coast trade because it is faster than other options. Traveling through the Panama Canal, which is more expensive, takes only 35 days. The U.S. is the largest country to move energy commodities through the Panama Canal, including natural gas.
Persons: Ricaurte Vásquez Morales, Vásquez, Luis Acosta Organizations: Gulf, Panama Canal, East, Agriculture Transportation Coalition, CNBC, LNG Allies, Panama, Afp, Getty, Panama Canal Authority Locations: Panama, East Coast, U.S, Shenzhen, China, Miami , Florida, Suez, New Orleans, Mobile , Alabama, Colon province, Panama City
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