Implementing restrictions on the number of ships in transit and draft since last year was unavoidable for the Panama Canal Authority (ACP).

The Canal’s fiscal year begins on October 1 of each year and ends on September 30 of the following year.

When we compare these figures with those for the 2023 fiscal year, we can appreciate that 7,641 ships crossed the Canal in the previous period, and 5,430 vessels are reported to have passed through, the press release states.

This decrease underlines not only the magnitude of the drought but also the loss of economic opportunities, as income has been lost; in addition, all activity generated by the maritime auxiliary industries that provide services to the vessels has slowed down.

The Panama Canal is an essential driver of this nation’s economy and a transportation hub for 6.0 percent of world trade.

Pll/iff/mem/ga