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Panama Canal sees a 21% decrease in pandemic crossings

Panama Canal sees a 21% decrease in pandemic crossings

In the midst of the coronavirus pandemic, the Panama Canal announced a 21% decrease in the number of ships crossing the waterway in May relative to traffic estimates.

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Last month, only 937 ships used the canal, while there were 260 crossing cancellations, channel administrator Ricaurte Vásquez said Wednesday.

He stated that 119 of the cancelations included giant LNG and LPG tankers, many from the United States to Asia, carrying liquified gas. There was also decline in crossings by cruise ships and car carriers.

The coronavirus pandemic has affected global businesses and economic growth. Vásquez said traffic recovery could be sluggish but some experts expected a quicker turnaround.

“It will be able to recover rapidly because the world’s reactivation depends on the reactivation of trade. in the reactivation of trade, the United States needs Panama, China and South America need Panama, and Europe, too,” said analyst José Isabel Blandón Sr.

Maritime Business World 

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