The operator of the Panama Canal said on Tuesday that the authority does not anticipate an immediate relief from the drought that has reduced water levels at the canal, a Bloomberg report reveals.

Panama Canal Administrator Ricaurte Vásquez Morales highlighted several factors, including high ocean temperatures, unpredictable rainy season, and the El Niño weather phenomenon. The severe weather conditions could mean continued vessel restrictions into 2024.

Despite the restrictions, the canal has not yet seen a disruptive backlog of vessels. The latest data provided by the canal shows that the average waiting time of non-booked vessels is on the decline.

“This is not the most severe drought Panama has faced, but given the operation of the canal, this is the most severe drought that we are facing even with the level of operations we currently have,” Vásquez Morales said during a virtual press conference.

Currently, 32 ships are authorised to transit the canal every day, down from 36 ships in normal conditions. With the drought lingering, the canal will also need to maintain draft levels at 44 feet (13 meters), which is enough for about 70% of the canal's traffic. 

Morales told the press that the canal may need to reduce the number of ships further in order to maintain the flow of ships.

For the future, Morales stated that he is collaborating with lawmakers to alter a 2006 law so that the canal can construct a new reservoir, to be known as Rio Indio, in order to maintain high water levels in the vital Gatun Lake and supply drinkable water to the expanding Panamanian population.