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المشهد العربي
Panama Canal fees rise amid climate concerns
The Panama Canal experienced an unprecedented rise in transit fees due to falling water levels caused by the El Niño phenomenon, leading to increased demand for ship transits amidst ongoing conflicts in the Middle East. The average daily fees during August reached approximately $1.1 million, more than 16 times higher than the same period last year, with some auctions reaching $3.78 million for the "Neopanamax" locks. Authorities expect the strength of the usual El Niño phenomenon to surpass normal levels this season, further impacting global shipping costs.
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