Declining Ship Crossings Pose Challenges for Panama Canal
The Panama Canal is facing tough times as the ongoing drought has led to a decrease in ship crossings. The canal authority expects revenue to drop by about €182 million in the next fiscal year, as it implements water efficiency measures and imposes surcharges and weight limits on ships. The region's extended dry season and the potential onset of El Niño weather phenomenon further exacerbate concerns about the canal's future.