PANAMA CANAL NET INCOME ROSE TO $3.45 BILLION DESPITE DROUGHT

The Panama Canal’s profit rose 9.5% to $3.45 billion in the fiscal year ending September, despite a severe drought that reduced ship traffic. The drought, the canal’s third driest year, forced authorities to lower daily ship passages and limit vessel drafts, causing delays and some diversions. Restrictions were lifted after rains replenished water levels, though traffic remained down, averaging 27.3 ships per day versus 36 previously. Reduced operational costs and incentives for bulk carriers and LNG tankers supported finances. Revenue reached $4.99 billion. The canal is advancing $8.5 billion in infrastructure projects and a $1.6 billion dam on the Rio Indio to address future water challenges.
Source: Reuters / Datamar News