But, according to Oscar Barzan, manager of the Trade Division of the Panama Canal Authority (ACP), if military actions continue and the Suez would close, then over the long term it’s expected that the Panama Canal would see increased traffic. For the moment, however movement of containerships through the Canals is not expected to change.
Closing the Suez would have greatest impact on the cost of petroleum worldwide, since Iran and Syria ship through the 163-kilometer long Canal from the Red Sea to the Mediterranean. In time, it might be necessary for transport around the Cape of Good Hope, adding to the cost of transport.
Too, because of changes in shipping requirements, it’s speculated that importers might chose to shift purchases of wood, for example, from Latin America rather than Africa or India in order to avoid moving product through a zone of conflict.