Panama Canal drought forces Maersk to start using ‘land bridge’ for Oceania cargo

By Lori Ann LaRocco – CNBC

• In an advisory to clients, Maersk informed shipping customers that vessels that use the Panama Canal will no longer be traversing the canal with freight from Oceania (Australia and New Zealand) because of the ongoing water situation.
• The latest water level issues for the canal come as it is expected to receive additional vessel traffic as ocean carriers avoid the Red Sea due to the ongoing Houthi attack risk.
• Forty percent of all U.S. container traffic travels through the Panama Canal every year, which in all, moves roughly $270 billion in cargo annually.