Panama Canal News
The Panama Canal is a strategic waterway connecting the Atlantic and Pacific Oceans through the Isthmus of Panama.
Ship Pays Record $5.3M for Panama Canal Priority Passage
A South Korean company paid a record $5.3 million at auction for priority passage through the Panama Canal. The canal is limiting ship traffic due to low water levels caused by the El Niño phenomenon.
Panama Canal Cuts Ship Traffic Due to Drought
The Panama Canal will reduce daily ship transits from 36 to 32 starting in September due to lower rainfall caused by the El Niño phenomenon. Authorities announced the measure to manage the impact of the prolonged and potentially intense drought.
CK Hutchison seeks $1.5B from Panama over seized canal ports
Hong Kong conglomerate CK Hutchison is seeking over $1.5 billion in damages from Panama after the country seized two ports at the ends of the Panama Canal. The company has initiated new arbitration proceedings, alleging a breach of an investment protection treaty.
The Panama Canal is a strategic waterway connecting the Atlantic and Pacific Oceans through the Isthmus of Panama.