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Around 20,000 ships pass through the Suez Canal every year. 40% of Asia-Europe trade normally goes through the area. About six percent of global maritime trade passes through the Panama Canal while 30 percent of global container traffic pass through the Suez canal.
Concerns over disruption to exports come after the Panama Canal Authority began restricting vessel transits in the summer as a severe drought limited supplies of water needed to operate its lock system.
Parents hoping to buy their children an iPhone for Christmas could be left scrambling for a replacement gift as shipping delays threaten deliveries.
The water levels have seen a significant drop. The number of vessels allowed to pass since August has slowly been decreased from 36 to 32 per day to address the issue.
Traffic jam at Panama Canal is a snapshot of how goods move in our globalised world, and the collateral damage at stake.