El Niño forces Panama Canal to limit daily ship traffic
Starting September 3, the Panama Canal will reduce its daily transit capacity from 36 vessels to 34, with a further reduction to 32 ships beginning September 15. The canal authority stated that the decision was necessary due to low water levels resulting from an El Niño-induced drought. Consequently, the cost of auctioning transit slots has surged to ₹38 crore, significantly higher than the typical rate of ₹1.29 crore.
by shortkt.com✓