September 30, 2020 |
In June 2016 a giant Chinese container ship became the first vessel to traverse the Panama Canal’s newly expanded locks.
“This new transit route is the tip of the iceberg in making Panama once again the logistic center of the Americas,” said Jorge Luis Quijano, then director of the Panama Canal Authority (ACP). But as the shipping industry begins a slow recovery from the COVID-19 pandemic, the Central American nation faces a more enduring challenge: adjusting to the changing global trade patterns brought about by rising US-China tensions.
Transit figures for the Panama Canal are a popular barometer for global trade and during the second quarter of 2020 traffic slowed considerably. There were
COVID-19 has changed the face of global trade. Panama – the hub of the Americas – will need to invest and adapt if it is to thrive