Over the past years, the frequency of climatic phenomena in the world has increased, casting a shadow on the joints of the wider economy, foremost of which are the main shipping routes. In drought-stricken Panama, the recent decline in international water levels in Central America has reduced the number of ships passing through its crucial canal to just 32 per day. This has caused a predicament for tankers that have piled up waiting to cross the strategic waterway, which usually shortens travel time between the Atlantic and Pacific oceans.
In addition, the global insurance broker "Marsh" warned in a report that more focus should be placed on understanding the vulnerabilities of marine choke points, given the increase in devastating weather events.
Source (Al Khaleej Emirati Newspaper, Edited)
Over the past years, the frequency of climatic phenomena in the world has increased, casting a shadow on the joints of the wider economy, foremost of which are the main shipping routes. In drought-stricken Panama, the recent decline in international water levels in Central America has reduced the number of ships passing through its crucial canal to just 32 per day. This has caused a predicament for tankers that have piled up waiting to cross the strategic waterway, which usually shortens travel time between the Atlantic and Pacific oceans.
In addition, the global insurance broker "Marsh" warned in a report that more focus should be placed on understanding the vulnerabilities of marine choke points, given the increase in devastating weather events.
Source (Al Khaleej Emirati Newspaper, Edited)
