Panama says its canal produced record revenue despite drought / Photo: Luis ACOSTA - AFP/File
-
Vessel operator seeks witnesses after Vancouver grounding
-
Bezos grant helps Seattle nonprofit move thousands of families toward housing
-
Shrini Srivastava joins crew of Varanasi-Delhi Vande Bharat Sleeper service
-
US stocks fall before midterm Election Day as technology shares weaken
-
Nearly Half of Australian Workers Overqualified, Survey Finds
-
BLS Polymers makes strong market debut at ₹248 per share
-
RBI eases export-declaration compliance for individual service exporters
-
Petrol and diesel prices remain broadly steady across major Indian cities
-
Reliance shares remain in focus after near-12% surge
-
Derek Tierney Outlines Ten-Year Strategy for National Digital Health System
-
Coal India prepares possible $1 billion Mahanadi Coalfields listing
-
BLS Polymers shares open 65.3% above IPO price
-
Capital-markets shares rally as Motilal Oswal and Angel One lead gains
-
ITC shares rise as analysts anticipate gradual cigarette-business recovery
-
Reliance rally puts historical one-year return pattern in focus
-
The Digital Burden: Why Instant Messaging Feels Like a Full-Time Job
-
Saudi Aramco quarterly profit climbs 34.6% amid elevated oil prices
-
Korea’s Labor Share of GDP Hits Record Low Amid Semiconductor Boom
-
Australia raises benchmark rate to highest level in 18 years
-
littlefish and Halo Dot Partner to Replace Payment Terminals with SoftPOS
-
Asian stocks retreat as AI worries outweigh steep oil-price drop
-
Egypt Accelerates Construction of 341km Sinai Railway Linking Arish and Taba
-
Hamad International Airport stages emergency drills during WATAN 2026
-
Web Summit Qatar 2026 generated QR1 billion economic impact, report says
-
Qatar solar expansion opens scope for technical performance gains
Panama says its canal produced record revenue despite drought
The Panama Canal delivered $2.5 billion to the national treasury for last year's operations, the government said Monday, despite record-low water levels that limited ship transits.
About six percent of global maritime trade passes through the canal each year, and the Panama Canal Authority earns money from tolls and services rendered to ships.
This year's contributions are the highest amount that the Panamanian state has received from the Canal, inaugurated by the United States in 1914.
The Canal Authority earlier said it had received $3.3 billion in total revenue in the period from October 1, 2022, to September 30, 2023, $319 million higher than a year earlier.
Of that amount, after deducting operating costs, it passed along $2.5 billion to the Panamanian government.
In 2023, 510 million tons of cargo passed through the Panamanian waterway, eight million less than in the previous year.
The number of transits also fell from 13,003 vessels to 12,638. This decrease is due to measures that the Canal Authority has taken to restrict vessel traffic due to water shortages resulting from climate change and the El Nino phenomenon.
The canal operates entirely from water collected through rainfall.
According to authorities, 2023 is the second-driest year in the Canal watershed's recorded history. The drought has caused the Canal Authority to reduce transit from 39 ships per day to 24 as of January.
M.García--CPN