Fees for vessels to pass through the Panama Canal this year are 15% below last year's levels as the waterway now has more capacity to move cargoes, the head of the Panama
Fees for vessels to pass through the Panama Canal this year are 15% below last year's levels as the waterway now has more capacity to move cargoes, the head of the Panama Canal Authority, Ricaurte Vasquez, said on Wednesday in a video conference.
A severe drought between late 2023 and early 2024 forced the world's second busiest waterway to impose passage restrictions that prompted long waiting lines and higher transit fees. The restrictions were lifted in the third quarter last year, allowing up to 36 vessels to cross per day.
In February, an average of 34.8 vessels transited through the waterway, an increase from 32.6 ships in January, the canal said this week in its monthly bulletin.
Speaking at the International Liquefied Petroleum Gas (LPG) conference ‘Facing the Challenges of LPG Trade Flows'” earlier this month, Vasquez emphasized that the Panama Canal will continue to play a crucial role in world trade, balancing the demands of an evolving industry with the need for sustainable environmental management.
(Reuters - Reporting by Marianna Parraga; Editing by Leslie Adler) (Additional reporting by ML staff)
Content Original Link:
" target="_blank">
