Due to a severe drought, ship crossings in the Panama Canal have been slashed by 36%, posing significant economic challenges. Canal administrators now predict a loss between $500 million and $700 million in 2024, far higher than previous estimates of $200 million. The drought has caused chaos in the maritime route, causing a backlog of boats and raising concerns about the canal’s reliability and impact on global trade. The number of ship crossings has already been reduced to 24 per day, down from the normal 38, and the country is urged to find new water sources to address the water problem affecting the canal and the wider country.
https://www.westerninvestor.com/national-business/a-drought-has-forced-authorities-to-further-slash-traffic-in-panama-canal-disrupting-global-trade-8126368