Panama Canal expands water reservoirs and accommodates larger vessels to combat drought-related challenges due to climate change.
Panama Canal plans to combat potential droughts within the next four years by expanding water reservoirs' capacity, accommodating larger vessels, and securing dedicated passage for some ships. Canal Chief Ricaurte Vasquez stated that climate change has increased the frequency of droughts. Despite water conservation measures, the authority still expects revenue to be in line with a $4.78 billion budget. A $2 billion expansion project for water reservoirs aims to complete within 18-24 months, while changes to slot allocations encourage larger vessels and dedicated passage for LNG carriers.
August 26, 2024
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