00:01The Panama Canal is expected to handle more ships due to the ongoing conflict in Iran.
00:06The Canal Administrator on Thursday said the conflict in the Middle East and rising fuel cost
00:11could ultimately benefit the interoceanic waterway as global shippers seek shorter, safer routes.
00:22Depends a lot on how deep the crisis is and how long it lasts,
00:26because the first blow will be the cost of energy, the cost of fuel, the cost of shipping.
00:31When costs increase in general, when the prices of marine fuel rises, the Panama Canal becomes a more attractive route.
00:45About one-fifth of the world's oil passes through the strategic waterway.
00:50If higher energy costs persist, routing cargo through Panama can cut voids by between 3 and 15 days,
00:59depending on the route, while reducing fuel consumption.
01:03If Middle Eastern supplies are disrupted, shipments may be replaced by other sources,
01:08including the United States, which could redirect some LNG cargo from Europe to Asia via Panama.
01:15Routes will change, and the Panama Canal and gas will likely be among the sectors that benefit the most.
01:21But in general, trade could be reorganized to reduce risk, taking into account insurance costs
01:26and how the risk of insecurity for ships has increased.
01:29Panama can certainly play an important role in the reorganization of trade routes.
01:35However, the Panama administrators have cautioned that any changes will not be immediate
01:40and will depend on how long cargo operators expect the conflict and instability in the Gulf last.
01:45So you're Bradst.
01:46Where's the one-fifth?
01:47Why are the ones trying to put franchisees against a mainland?
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