Ship traffic increases through the Panama Canal due to the Middle East war
The war in the Middle East has caused an increase in ship traffic through the Panama Canal, which will also see an increase in the passage of ships carrying liquefied natural gas, an executive from the interoceanic route stated on Monday. AFP The conflict, which began on February 28 with the attack by the United States and Israel against Iran, led to the blockage of the Strait of Hormuz, through which one-fifth of the world's hydrocarbon exports passed.
TL;DR
- The Middle East war has led to increased ship traffic through the Panama Canal.
- The conflict caused the blockage of the Strait of Hormuz, impacting hydrocarbon exports.
- Panama Canal daily transits have increased from 34 to 38-40 in recent weeks.
- An increase in ships carrying liquefied natural gas is also expected.
- The Panama Canal is considered a safe and economically advantageous route, especially for fuel prices.
- The canal handles 5% of global maritime trade, connecting major economies like the US, China, South Korea, and Japan.