As of the beginning of September, the Panama Canal announced that it expects to boost the number of daily transit slots for vessels to 36 from the current 34 thanks to recent consistently strong rainfall. On August 5, transits are being increased to 35 per day.
The rains have allowed the Panama Canal Authority to ease restrictions imposed last year as a record drought took its toll. At its maximum under normal conditions, the international waterway connecting the Atlantic and Pacific Oceans can accommodate 40 ship transits a day.
The Panama Canal Authority recently established a six-year deadline to complete the construction of a giant $1.6 billion new reservoir along the Indio river to provide water security in the future.
During the worst periods, more than 100 ships at a time were lined up and waited up to 21 days to use the canal accounting for 5% of global shipping.
(Panama Canal photo)
