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Today, Explained

The Panama Canal is drying up

Today, Explained

Vox

Daily News, Politics, News

4.49.5K Ratings

🗓️ 20 February 2024

⏱️ 27 minutes

🧾️ Download transcript

Summary

A drought has dramatically reduced the Panama Canal’s capacity, leading to higher costs and big delays for US-bound goods. Reporter Mie Dahl and economics professor Sharat Ganapati deliver the shipping news. This episode was produced by Jesse Alejandro Cottrell and Haleema Shah, edited by Matt Collette, fact-checked by Laura Bullard, engineered by Patrick Boyd, and hosted by Noel King. Transcript at vox.com/todayexplained Support Today, Explained by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

The global shipping industry handles about 80% of international trade.

0:08.6

80% of the stuff that you and everyone else buys from overseas gets put on a ship at some point to get to you.

0:14.3

Straight floating on a boat on the sea to sea.

0:18.1

So blockages are very serious.

0:19.6

Remember the ever given the ship that got stuck in the Suez Canal a few years ago.

0:24.0

Right now the shipping industry is facing two crises.

0:27.0

The first is at the Panama Canal where a drought is causing such long delays that authorities

0:31.0

have started auctioning off spots to jump the line and the second of

0:34.9

course is in the Red Sea where hooty rebels are wilding international commercial ships to

0:39.2

protest Israel's offensive in Gaza coming up on today explained, the shipping news.

0:44.0

Cut cut, cut, cut through like a banner,

0:46.0

ban a ban on my canal, canal, canal,

0:48.0

can now. Cut, cut, cut, cut through like the banner,

0:50.0

and a banama can now, canal, canal, can now.

0:52.0

Cut, cut, cut, cut through like a banner, ban on ban canal, canal, can now. Cut, cut, cut through.

0:54.0

Like a ban, Panama can now, canal, canal,

0:56.0

cut, cut, cut, cut, cut through.

0:58.0

Like a Bight.

1:00.0

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1:02.0

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1:02.8

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1:07.9

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...

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