Due to the Crisis in the Middle East, Fuel Tanker Traffic through the Panama Canal will Increase
Ricaurte Vásquez, administrator of the Panama Canal Authority, indicates that the crisis came at a time when the interoceanic waterway has enough water to operate at maximum capacity.
The blockade of the Strait of Hormuz, through which 20% of the world’s oil passes, and the restriction on liquefied natural gas (LNG) exports from several producing countries, such as Qatar, due to the war in the Middle East, is generating increased traffic of ships carrying fuel through the Panama Canal.
Vásquez pointed out that the crisis came at a favorable time, since the Canal has enough water to operate at its maximum capacity; the Alhajuela reservoir, for example, was yesterday at 249.89 feet out of a maximum of 255, which has allowed a continuous flow of up to 38 transits per day and in some cases 40.
