"Drought-Induced Decline: Panama Canal Traffic and Revenue Hit Hard"

Severe drought in Panama has led to a 36% reduction in ship crossings at the Panama Canal, causing significant economic impact and concerns about the reliability of the trade route. The disruption coincides with attacks on commercial ships in the Red Sea, further impacting global trade by delaying shipments and raising transport costs. Canal authorities attribute the drought to El Niño and climate change, emphasizing the urgent need for new water sources for both the canal's operations and human consumption.