{"id":72591,"date":"2023-08-07T00:00:00","date_gmt":"2023-08-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/"},"modified":"2023-08-07T00:00:00","modified_gmt":"2023-08-07T00:00:00","slug":"panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/","title":{"rendered":"Panama Canal to lose USD 200 mn on the back of climate change-induced measures + Canada port dispute effectively ends"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Panama Canal\u2019s administrator is expecting a USD 200 mn revenue drop in the <\/strong><strong>2023-24 fiscal year<\/strong><strong>to USD 4.9 bn<\/strong>, due to water-saving crossing limits amid an unprecedented drought, <a target=\"_blank\" href=\"https:\/\/www.hellenicshippingnews.com\/panama-canal-seen-losing-200-million-next-year-as-ship-crossings-dip\/#google_vignette\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Disruptions are projected to have cost the canal a 16% decrease in cargo ship crossings. Reduced transit is also impacting commodity shipments, including coal, freight markets, LNG shipments, and bunker fuel deliveries, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/coal\/080223-panama-canal-transit-reduction-impacts-thermal-coal-shipments-in-atlantic-sources\" style=\"\" rel=\"noopener\">S&P Global<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The Panama Canal Authority has announced a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d3d9b8e5-f4e3-4dfd-9975-8ddb1795ecd6\" style=\"\" rel=\"noopener\">decrease in daily transit capacity<\/a> to an average of 32 vessels, effective 30 July, for an \"extended period of time\u201d in order to conserve water amid a drought. Coal prices have fluctuated since this announcement, but are down y-o-y. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH KNOWING-<\/strong><\/p>\n<ul>\n<li>Members of <strong>Canada\u2019s International Longshore<\/strong> and <strong>Warehouse Union<\/strong> have voted to ratify a <strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/3f9d65e9-5385-4d10-a070-8ddcdc47afc0\" style=\"\" rel=\"noopener\">second tentative agreement<\/a><\/strong> with West Coast port ownership regarding <strong>wages, benefits, and training<\/strong>, effectively ending a long-standing dispute that has threatened supply chains. (<a target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.bcmeanegotiations.com\/ilwu-canada-members-ratify-negotiated\/&sa=D&source=editors&ust=1691368477160862&usg=AOvVaw1xuc8I3vOm0KOut27J_W7K\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Panama Canal\u2019s administrator is expecting a USD 200 mn revenue drop in the 2023-24 fiscal yearto USD 4.9 bn, due to water-saving crossing limits amid an unprecedented drought, Reuters reports. Disruptions are projected to have cost the canal a 16% decrease in cargo ship crossings. Reduced transit is also impacting commodity shipments, including coal, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[149],"tags":[148,369,17,549,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-72591","post","type-post","status-publish","format-standard","hentry","category-around-the-world","tag-around-the-world","tag-canada","tag-enterprise-logistics","tag-port","tag-trade","wpautop","entry"],"acf":{"mongo_id":"743e6e3b-42d9-4b9b-bf8f-09175c9a6b03","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/258.jpg,https:\/\/www.facebook.com\/photo\/?fbid=586089216890170&set=a.586089206890171","photo_position":"above","homepage_title":"","full_issue_title":"Panama Canal to lose USD 200 mn on the back of climate change-induced measures + Canada port strike effectively ends","related_issue":[72571],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.514aa64b-0761-4ea2-b351-f4bca7c7f01c.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Panama Canal to lose USD 200 mn on the back of climate change-induced measures + Canada port dispute effectively ends - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Panama Canal to lose USD 200 mn on the back of climate change-induced measures + Canada port dispute effectively ends\" \/>\n<meta property=\"og:description\" content=\"The Panama Canal\u2019s administrator is expecting a USD 200 mn revenue drop in the 2023-24 fiscal yearto USD 4.9 bn, due to water-saving crossing limits amid an unprecedented drought, Reuters reports. Disruptions are projected to have cost the canal a 16% decrease in cargo ship crossings. Reduced transit is also impacting commodity shipments, including coal, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/\" \/>\n<meta property=\"og:site_name\" content=\"Logistics\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-07T00:00:00+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Panama Canal to lose USD 200 mn on the back of climate change-induced measures + Canada port dispute effectively ends\",\"datePublished\":\"2023-08-07T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/\"},\"wordCount\":171,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/logistics\/#organization\"},\"keywords\":[\"AROUND THE WORLD\",\"Canada\",\"Enterprise Logistics\",\"port\",\"trade\"],\"articleSection\":[\"Around the World\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/\",\"url\":\"https:\/\/enterpriseam.com\/logistics\/2023\/08\/07\/panama-canal-to-lose-usd-200-mn-on-the-back-of-climate-change-induced-measures-canada-port-dispute-effectively-ends\/\",\"name\":\"Panama Canal to lose USD 200 mn on the back of climate change-induced measures + Canada port dispute effectively ends - 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