Financial Ports

$5.3m transit fee: Panama Canal’s water crisis hits new low

CLAVE 1 / 434% below-average rainfall from May to August has plunged Gatun Lake levels to 84.2 ft, a seventh consecutive monthly decline.

CLAVE 2 / 4Daily transit capacity cut to 32 ships from September 15, down from 40 in normal conditions.

CLAVE 3 / 4South Korea’s SK Gas paid a record $5.3m for a single transit slot, smashing the previous $4.6m record.

CLAVE 4 / 4Bulk carrier transits fell 32.5% year-on-year in August as low-value commodities abandon the route.

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