Greek shipper warns Panama Canal chaos could impact Suez

A senior official from the Angelicoussis Group, a Greek shipping giant, warned that the unprecedented congestion at the Panama Canal might lead to delays at Egypt's Suez Canal, potentially impacting shipments of liquefied natural gas. Sveinung St?hle, the company's Deputy Chief Executive Officer, mentioned at a conference in Athens that Suez would have to accommodate a higher number of vessels due to the crisis in Panama. He explained, That means that the waiting time on both ends likely will increase. The Panama Canal is facing challenges as a crucial lake has dried up due to a lack of rainfall, disrupting the flow of traffic through this vital waterway. These delays have already caused significant disruptions in global commerce, compelling some ships to take the longer route around South America. St?hle acknowledged that the Suez Canal, serving as an alternative route for vessels traveling between the US and Asia, has effectively managed congestion issues over the years. He stated, It's less of an issue, but obviously it's something you need to be aware of, highlighting that Suez possesses a larger capacity than the Panama Canal, allowing it to handle a greater number of ships per day.