Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023.
REUTERS/Aris Martinez/File Photo Acquire Licensing RightsPANAMA CITY, Oct 31 (Reuters) - The Panama Canal, one of the world's main maritime trade routes, will further reduce daily ship crossings in the coming months due to a severe drought, the authorities managing the canal said late on Monday, increasing shipping costs.
Booking slots will be cut to 25 per day starting Nov. 3 from an already reduced 31 per day, the Panama Canal Authority (ACP) said in a client advisory, and will be gradually reduced further over the next three months to 18 slots from Feb. 1.
In recent months, the ACP has imposed various passage restrictions to conserve scarce water, including cutting vessel draft and daily passage authorizations.
It also said delays for some gas transporters were at record highs in Panama, pushing up the cost of shipping liquefied gas from the U.S.
Persons:
Aris Martinez, Eli Moreno, Brendan O'Boyle, Isabel Woodford, Josie Kao
Organizations:
Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Panama Canal Authority, U.S . Energy, Administration, Thomson
Locations:
Cocoli, Panama, Panama City, PANAMA, Gatun Lake