Panama Canal reaffirms ‘neutrality’
Panama reaffirmed on Tuesday the “neutrality” of its canal and the “need to preserve” maritime transit routes amid the blockade of the Strait of Hormuz during the Middle East war.
The monthlong conflict has seen Iran effectively close the Strait of Hormuz, a critical waterway for one-fifth of the world’s oil and natural gas exports from Gulf countries, prompting a surge in traffic going through the Panama Canal.
Panamanian Foreign Minister Javier Martinez-Acha reasserted the canal’s neutrality during a phone call with his Israeli counterpart, Gideon Saar.
Martinez-Acha emphasized “the importance of the Panama Canal’s neutrality as a pillar of global trade” and highlighted “the need to preserve stability in key maritime and energy transit routes.”
Traffic through the Panama Canal has increased from around 34 ships a day in January to up to 50 ships arriving daily now, according to the canal’s administrators.
Five percent of global maritime trade passes through the Panama Canal, whose main users are the United States and China.
The route primarily connects the east coast of the United States with the Asian giant, South Korea, and Japan.
