THE Panama Canal Authority says it expects revenue to drop by about EUR182 million (US$200 million) in the next fiscal year, because shipping has been impacted by drought, reports Lyons' euronews .
An unprecedented regional drought has forced its administrator to impose surcharges and weight limits on ships traversing the waterway.
When it operates at full capacity, about 36 to 38 ships transit it daily. But the canal authority says this will likely drop to around 30 and 32 ships as it continues to apply low water restrictions.
And there are fears things may deteriorate further. As the region experiences an extended dry season, authorities say the start of El Nino weather phenomenon could worsen conditions.
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