Current:Home > Contact-usA drought has forced authorities to further slash traffic in Panama Canal, disrupting global trade-DB Wealth Institute B2 Expert Reviews
A drought has forced authorities to further slash traffic in Panama Canal, disrupting global trade
View Date:2024-12-23 23:32:56
PANAMA CITY (AP) — A severe drought that began last year has forced authorities to slash ship crossings by 36% in the Panama Canal, one of the world’s most important trade routes.
The new cuts announced Wednesday by authorities in Panama are set to deal an even greater economic blow than previously expected.
Canal administrators now estimate that dipping water levels could cost them between $500 million and $700 million in 2024, compared to previous estimates of $200 million.
One of the most severe droughts to ever hit the Central American nation has stirred chaos in the 50-mile maritime route, causing a traffic jam of boats, casting doubts on the canal’s reliability for international shipping and raising concerns about its affect on global trade.
On Wednesday, Panama Canal Administrator Ricaurte Vásquez said they would cut daily ship crossings to 24, after already gradually slashing crossings last year from 38 a day in normal times.
“It’s vital that the country sends a message that we’re going to take this on and find a solution to this water problem,” Vásquez said.
Vásquez added that in the first quarter of the fiscal year the passageway saw 20% less cargo and 791 fewer ships than the same period the year before.
It was a “significant reduction” for the country, Vásquez said. But the official said that more “efficient” water management and a jump in rainfall in November has at least enabled them to ensure that water levels are high enough for 24 ships to pass daily until the end of April, the start of the next rainy season.
Canal authorities attributed the drought to the El Niño weather phenomenon and climate change, and warned it was urgent for Panama to seek new water sources for both the canal’s operations and human consumption. The same lakes that fill the canal also provide water for more than 50% of the country of more than 4 million people.
“The water problem is a national problem, not just of the Canal,” Vásquez said. “We have to address this issue across the entire country.”
veryGood! (1341)
Related
- Love Actually Secrets That Will Be Perfect to You
- Control of Virginia's state Legislature is on the ballot Tuesday
- Possible leak of Nashville shooter's writings before Covenant School shooting under investigation
- 911 is a literal lifeline in our worst moments. Why does the system favor voice over text?
- Early Black Friday Deals: 70% Off Apple, Dyson, Tarte, Barefoot Dreams, Le Creuset & More + Free Shipping
- 911 is a literal lifeline in our worst moments. Why does the system favor voice over text?
- Timbaland Receives Backlash After Saying Justin Timberlake Should've Put a Muzzle on Britney Spears
- Ex-CIA officer accused of sexually abusing dozens of women pleads guilty to federal charges
- Some women are stockpiling Plan B and abortion pills. Here's what experts have to say.
- Meta failed to address harm to teens, whistleblower testifies as Senators vow action
Ranking
- Man waives jury trial in killing of Georgia nursing student
- Springsteen, Keith Richards pen tributes to Bob Marley in photo book 'Rebel Music'
- New Beauty We’re Obsessed With: 3-Minute Pimple Patches, Color-Changing Blush, and More
- Today's Mississippi governor election pits Elvis's second cousin Brandon Presley against incumbent Tate Reeves
- Rare Alo Yoga Flash Sale: Don’t Miss 60% Off Deals With Styles as Low as $5
- Juan Jumulon, radio host known as DJ Johnny Walker, shot dead while on Facebook livestream in Philippines
- The US sanctions Mexican Sinaloa cartel members and firms over fentanyl trafficking
- Are I-bonds a good investment now? Here's what to know.
Recommendation
-
Kirk Herbstreit berates LSU fans throwing trash vs Alabama: 'Enough is enough, clowns'
-
Sweden’s largest egg producer to cull all its chickens following recurrent salmonella outbreaks
-
Croatia recommends people drink tap water after several fall from drinking bottled drinks
-
Planned Fossil Fuel Production Vastly Exceeds the World’s Climate Goals, ‘Throwing Humanity’s Future Into Question’
-
The Fate of Hoda Kotb and Jenna Bush Hager's Today Fourth Hour Revealed
-
Jury reaches verdict in trial of third officer charged in 2019 death of Elijah McClain
-
House advances effort to censure Rashida Tlaib over her rhetoric about the Israel-Hamas war
-
Jewish Americans, motivated by 'duty to protect Israel,' head overseas to fight Hamas