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Global pre-Christmas trade at risk from twin canal crises

Drought in Panama and shipping attacks near Suez threaten supply chains at festive season
Hapag-Lloyd and its peers have been forced to take longer and more costly routes, with the German group announcing the diversion of at least 42 ships from Panama to Suez for trade between Asia and the US east coast.

Simultaneous disruption in the Panama and Suez canals, two vital corridors for global trade, is threatening global supply chains in the run-up to Christmas.

Shipowners and importers have warned that a drought in the Panama Canal and a spate of attacks on cargo vessels 11,500km away near the Suez Canal risk constraining traffic ahead of the festive season.

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