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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. …
Severe drought has forced authorities to slash ship crossings by 36% in the Panama Canal. 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. On Wednesday, Panama Canal Administrator Ricaurte Vásquez said authorities would cut daily ship crossings to 24, after …
