Panama Canal Toll Revenue Shrinking This Fiscal Year Due to Drought

• The Panama Canal's toll revenues have dipped by about $100Mn per month since last October, the canal's administrator said on Wednesday, January 17, adding that if the trend continues, reduced income from tolls could total some $700Mn by around April.
• The falling revenue stems from drought conditions that have forced the canal's managers to impose shipping restrictions on the more than century-old waterway. A crucial global trade route linking the Pacific and Atlantic Oceans.
• Canal Administrator Ricaurte Vasquez described the continued trend of falling toll revenue in coming months as "possible", in comments to reporters at a press conference.
• He added that the waterway is expected to meet targets set out in its budget for income for the fiscal year, in part due to a recent toll increase that has come into effect.
• The canal's fiscal year begins in October and runs through September.

 (Source: Reuters)