Panama Canal traffic cut by more than a third because of drought
11 months, 3 weeks ago

Panama Canal traffic cut by more than a third because of drought

Associated Press  

PANAMA CITY — A severe drought that began last year has forced authorities to slash ship crossings by 36% in the Panama Canal, one of the world’s most important trade routes. Panama Canal Administrator Ricaurte Vásquez now estimates that dipping water levels could cost them between $500 million and $700 million in 2024, compared to previous estimates of $200 million. On Wednesday, Vásquez said the canal authorities would cut daily ship crossings to 24, down from 38 a day in normal times last year. Canal authorities attributed the drought to the El Niño weather phenomenon and climate change, and warned it was urgent for Panama to seek new water sources for both the canal’s operations and human consumption.

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