Pixel42
Schrödinger's cat
Useful explainer article about the Panama Canal.
www.theguardian.com
Who owns the Panama Canal and what does Trump want with it?
US president-elect has threatened to retake canal over ‘exorbitant’ rates but Panama’s president rejects his claims
Ships using the canal must pay fees set by the canal authority. Variable rates have soared in recent years amid droughts worsened by global heating, which dry up essential reservoirs and reduce the canal’s capacity.
As a result of severe drought in late 2023, only 22 ships crossed the canal each day instead of the usual 36, forcing ships to queue for weeks or pay as much as $4m (£3.2m) to jump ahead. Transits fell by nearly a third in the year to this September.
The canal authority has allowed rising numbers of ships to use the canal over 2024, easing congestion, but will increase charges and introduce some additional fees on 1 January 2025. Panama’s president, José Raúl Mulino, said the canal’s transit fees were not inflated.