Global Trade Rebound Is Demonstrated by Increased Ship Traffic in the Panama Canal

Written by Roberta Souza

Published on 19/08/2020 at 14:20

Segundo levantamento da Fitch, mais de 3% do comércio marítimo do mundo todo passa pelo Canal do Panamá

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According to Fitch’s Survey, Over 3% of the World’s Maritime Trade Passes Through the Panama Canal

Global Rebound – the increase in vessel traffic in the Panama Canal signals a slow recovery of global trade, which has experienced sharp declines in recent months due to the Covid-19 pandemic.

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In July, a total of 933 vessels crossed the waterway, an increase of 10.5% compared to the previous month, which recorded the lowest traffic since the canal opened a set of locks to accommodate larger ships in 2016.

August also shows improvements in numbers, says Ilya Espino de Marotta, the canal administrator, in an interview with Bloomberg.

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What Is the Panama Canal?

The Panama Canal is an artificial waterway that connects the Atlantic and Pacific Oceans. Instead of vessels making the journey around the South American continent, which could take up to four weeks, they can cross from one side to the other in just 10 hours, traversing the approximately 80 kilometers of the canal.

Global Trade Rebound Is Demonstrated by Increased Ship Traffic in the Panama Canal

According to Fitch’s Survey, Over 3% of the World’s Maritime Trade Passes Through the Panama Canal

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What Is the Panama Canal?

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Global Trade Rebound Is Demonstrated by Increased Ship Traffic in the Panama Canal

According to Fitch’s Survey, Over 3% of the World’s Maritime Trade Passes Through the Panama Canal

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With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

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Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

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