JOURNAL ARTICLE

Panama Canal Eases Limits That Caused Global Shipping Bottleneck.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: McDonald, Michael 3 of 3

Abstract

The Panama Canal is lifting restrictions that caused a global shipping bottleneck due to a severe drought. The water levels have normalized after recent rains, allowing the Panama Canal Authority to increase the draft in the waterway to a maximum of 50 feet and permit 36 vessels to transit each day. The canal handles about 3% of global maritime trade volumes and is Panama's biggest source of revenue. The authority expects rains to continue through November, further increasing water levels. However, the canal is studying the possibility of implementing seasonal draft restrictions during the 2025 dry season and is considering building a dam to boost its water supply. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/08, pN.PAG
  • Document Type:Article
  • Subject Area:Power and Energy
  • Publication Date:2024
  • Accession Number:179276642
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