The Panama Canal significantly reduces the time and distance for vessels to travel between the Atlantic and Pacific oceans. It normally operates all year round, 24 hours a day, and statistics show that about 13,000 to 14,000 vessels cross the Canal annually.
However, the region has recently been suffering from its worst drought for over 70 years. As a result, and for the first time ever, the Panama Canal Authority has had to limit the number of vessels crossing the Canal. The usual average is about 36 vessels per day. This was reduced to roughly 32 in June 2023 and, as of November 2023, the number is down to only 25. It is expected that this number will be further reduced to 18 slots a day from February 2024.
As well as this, the Authority has also had to reduce the draft limit from 50ft to 44ft. This imposes a limit on the size of a ship which can pass through the canal, and as a result, the amount of cargo that passes through.
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