The Panama Canal, a vital maritime trade route, is responding to the impact of severe drought by increasing the number of booking slots in its Panamax and Neopanamax locks. Originally planning for 18 slots per day, the canal authority now aims to provide 24 transit slots starting mid-January. This decision is influenced by the current and expected levels of Gatun Lake, the artificial reservoir crucial for operating the waterway.
However, due to the ongoing water crisis, the canal authority is imposing restrictions, allowing only one booking slot per customer per date for transit starting on Jan. 16. The prioritization of slots will be based on auction processes, full containers, market demand, and customer rankings. This adjustment comes as Panama faces a water crisis, leading to increased fees, traffic, and rerouting of ships.
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Credit: Reuters