The Panama Canal Authority (ACP) expects the drought-induced reduction in water levels and navigation volumes to end by 2025. Since May 2023, the ongoing drought and the El Niño phenomenon have led to a reduction in Panama Canal navigation.

According to the ACP, the Canal has averaged 27 crossings per day so far this year, but this is still below the 36 crossings per day provided during the rainy season. According to available forecasts, steady rains will arrive in late April and continue for several months. This will allow the Canal to gradually increase the number of daily navigation slots, allowing the Panama Canal to be fully normalized by 2025.

In addition, a press release indicated that the auction prices for the additional slots offered to vessel operators had leveled off and were now largely back to normal levels.