Just as global economies recovered from the negative impact of Covid, adverse events on important maritime routes threaten international trade again — and could have impacts on Brazil. A historic drought has lowered the water level in the Panama Canal, reducing the flow of ships crossing the Central American country, through which about 6% of global trade passes. On the other side of the planet, attacks by Houthi rebels in the Red Sea affect the entire route passing through the Suez Canal in Egypt, with about 12% of world trade.
The most immediate impact of what has been described as the biggest crisis in maritime transport since Covid is on the increased time and cost of transportation, affecting the prices of Brazilian exports and imports, according to analysts and logistics operators heard by Folha.
Routes entering the Red Sea through the Suez Canal, for example, between Asia and Europe, are diverted to the Cape of Good Hope in southern Africa to avoid attacks on vessels. In Panama, which has restricted the number of ships that can pass daily due to the low water level, logistics operators are looking for alternatives in other means of transportation. DHL Global Forwarding, for example, offers a hybrid between maritime and air transport for routes from Brazil to the west coast of the United States.
Instead of crossing Panama, the cargo is sent to Miami in the southeast of the country and from there is transported by air to the west coast, the company says. Danish company Maersk, one of the world's largest transportation companies, announced that it will use railways to cross Panama while there are restrictions in the canal.
Even routes that are not a priority for Brazil end up harming some industries. In the case of the Red Sea, one of the most affected sectors is likely to be the export of animal protein because the Middle East consumes 29.4% of Brazilian production destined for abroad, according to the Brazilian Association of Animal Protein (ABPA). Only in 2023, Brazil sent 1.5 million tons to the region, generating revenue of $3.1 billion.