Panama Canal extends relief measures
The trend is pointing upwards: after weak months of May and June, transits at the Panama Canal climbed from 845 in June to 933 in July, and August is showing a similar curve.
As the Covid-19 pandemic continues to impact the global economy, the Panama Canal is extending its temporary relief measures till the end of 2020. "Despite the challenges faced earlier this year, I am confident we will see a steady recovery going into our 2021 fiscal year for both the Canal and its customers," said Panama Canal administrator Ricaurte Vásquez Morales.
The waterway's fiscal year will end on 30 September 2020. Implemented on 4 May and originally set to run until 1 September, the relief measures include the suspension of advance payments for transit reservation fees and other changes to the waterway's reservation system. (mw)