Transport Infrastructure
El Nino returns: What it means for global trade and the Panama Canal
El Nino, just two years after the most severe drought in the history of the Panama Canal forced ships to wait for weeks for passage, and triggered multimillion-dollar bidding wars for transit slots. Now El Nino threatens again the rainfall that feeds this waterway. El Nino is strengthening and reservoirs are shrinking. The industry is preparing for another disruption on one of the most important waterways in the world. Some?ships have already taken long detours through Africa. The Panama Canal Authority reversed its previous promise to limit 'passage' as it prepares for an El Nino that is longer than usual....