Water levels at the Panama Canal are expected to remain exceptionally low for months due to record declines in rainfall, according to the London Stock Exchange Group.
As of September 4, the number of vessels waiting at the Atlantic and Pacific entrances of the canal totalled 112, with the backlog affecting supply chains.
Drought conditions that rapidly developed during the first half of the year and have held steady since that time. In fact, this year is off to the driest start during January-July since 2015, which had a similar rainfall rate.
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