{"id":5355,"date":"2024-03-07T10:44:19","date_gmt":"2024-03-07T10:44:19","guid":{"rendered":"https:\/\/balguerie-group.media-bgp.com\/?p=5355"},"modified":"2024-03-07T10:49:19","modified_gmt":"2024-03-07T10:49:19","slug":"panama-suez-canals-overview-situation","status":"publish","type":"post","link":"https:\/\/balguerie-group.com\/en\/panama-suez-canals-overview-situation\/","title":{"rendered":"PANAMA AND SUEZ CANALS:\u00a0AN OVERVIEW OF THE SITUATION"},"content":{"rendered":"\n<p>Areas of tension at the <strong>Panama and Suez Canal<\/strong>, two major crossing points. Since the end of August, the Panama Canal authorities have been informing us of a <strong>severe drought<\/strong>, forcing them to limit the number of daily ship passages and reduce their draught. The rainy season is drawing to a close, and the drought is still very much with us. The Suez Canal, meanwhile, has been hit by <strong>attacks on cargo ships<\/strong> in the southern Red Sea.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">PANAMA SURCHARGE<\/h2>\n\n\n\n<p>The authorities have already announced a gradual reduction in the number of crossings from the current 22 per day to 18 from February 1, 2024. This situation is likely to last for some time, as <strong>congestion<\/strong> is already present on both sides of the Canal.<\/p>\n\n\n\n<p>Container ships have access to passage slots by appointment, and for the moment do not seem to be affected by the congestion. However, in view of the <strong>reduced number of passages<\/strong> and related constraints (see our article <a href=\"https:\/\/balguerie-group.com\/en\/panama-canal-drought-and-restrictions\/\" target=\"_blank\" rel=\"noreferrer noopener\">Panama Canal: Drought and restrictions<\/a>), and in anticipation of increases in Panama Canal operating tariffs, the companies have announced a &#8220;<strong>Panama surcharge<\/strong>&#8220;. The amount of the surcharge varies from one shipping line to another. Some will apply the surcharge from December 15, others from January 1, 2024.<\/p>\n\n\n\n<p>It should also be noted that many<strong> ships are redirected<\/strong> to the Suez Canal and the Cape of Good Hope, which <strong>adds considerable time<\/strong> and cost to the routing of goods.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">SUEZ CANAL UNDER STRAIN<\/h2>\n\n\n\n<p>The southern Red Sea is now considered a high-risk area. Faced with repeated attacks on merchant ships and the<strong> instability of the area<\/strong>, some companies will apply a tax called the &#8220;<strong>war tax<\/strong>&#8221; from January 1, 2024 on all ships transiting this area.<\/p>\n\n\n\n<p>Indeed, several ships have recently been attacked in the Bab-El-Mandeb Strait, and some are changing their routing to avoid the Suez Canal and pass through the Cape of Good Hope. This represents a significant increase in transit time.<\/p>\n\n\n\n<p>This tense context in international transport is a reminder of the importance of <strong>insuring your goods<\/strong> to limit financial losses in the event of a problem. Naturally, our teams monitor the situation very closely and always propose the most appropriate solutions.<\/p>\n\n\n\n<p>Our teams are at your disposal to support you in all your day-to-day shipments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Areas of tension at the Panama and Suez Canal, two major crossing points. Since the end of August, the Panama Canal authorities have been informing us of a severe drought, forcing them to limit the number of daily ship passages and reduce their draught. The rainy season is drawing to a close, and the drought [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":5352,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[44],"tags":[66,49],"class_list":["post-5355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-balguerie-2","tag-sea-freight"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PANAMA AND SUEZ CANALS:\u00a0AN OVERVIEW OF THE SITUATION<\/title>\n<meta name=\"description\" content=\"Areas of tension at the Panama and Suez Canal, two major crossing points. 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