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January 20,2020
Due to the reduced rainfall, the water level of the main water source of the Panama Canal, Lake Gatun, is at an all-time low. The 2019 Panama Canal is ranked 5th in the last 70 years.
Panama Canal Administrator Ricott Vazquez said that at the beginning of the new year, the canal is a model for the operation of extreme conditions of drought and low rainfall in order to maximize the efficiency and ensure that ships can pass in the future.
A few days ago, the Panama Canal Authority issued a notice saying that a new fee, Freshwater Surcharge, will be levied starting on February 15.
According to the Panama Canal Authority, if no fees are charged and operating rules are changed, the water level of the Panama Canal will continue to decline and it is expected to affect Panamax and new Panamax vessels. The implementation of the new measures will enable the Panama Canal to better predict the number and types of ships passing through the canal, and thereby allocate water resources accordingly.
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