Panama Canal is clogged with ships, and the pandemic is making it worse

Ships carrying cargoes around the world are waiting for days to pass through the Panama Canal, as pandemic hit staffing caused congestion at the key pinch point.

Long waiting times are affecting shipments of liquefied natural gas and liquefied petroleum gas from the US Gulf Coast to Asia, according to people with direct knowledge of the situation.

The waiting time, which for vessels with unbooked slots is as long as between 10 and 15 days, have contributed to a rally in the cost of chartering an LNG tanker on the spot market and added to disruptions affecting the supply of super-chilled fuel, the same sources said.