Panama Canal increases profits despite historic drought and traffic restrictions
Kyiv • UNN
The Panama Canal's profit increased by 9.5% to $3.45 billion for the fiscal year. Due to the severe drought, the administration was forced to limit daily ship traffic and reduce the maximum draft.
The Panama Canal's profit increased by 9.5% despite the drought. This was reported by Reuters, according to UNN.
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The Panama Canal's profits for the fiscal year ending in September increased by about 9.5%, reaching $3.45 billion. This result came despite a severe drought that significantly affected the number of ships passing through the waterway.
One of the reasons for the decline in shipping volume is the third driest year in the history of the canal, which led to a decrease in the amount of water available for operation. As a result, the canal administration was forced to limit the number of vessels allowed to pass through per day and reduce the maximum permitted draft.
