Current Event in Panama

Less large container ships and far more bulk carriers loaded with grain have made passage through the Panama Canal in the past year.This is because since Panama took control of the waterway from the U.S.A. there have been steep toll increases. There have been complaints from container ship owners saying that the toll increases are creating a shipping crisis. The administrator of the Panama Canal has chosen to ignore them and continue with the toll increases, he says there has only been a two percent drop in traffic through the canal in 2009 as compared to 2008. The revenue from the new tolls will be used for construction on the Panama Canal doubling it's width, which will increase the size of ships able to use the canal. The project will be complete in 2014 for the canal's centenary.
So far this year earnings from the canal are up ten percent, mainly due to toll increases, since taking over the canal ten years ago Panama has tried to maximize profits. The canal is the tiny country's only source of revenue.
This editor believes that as long as Panama keeps toll costs less than the cost of moving goods by another means, for instance going all the way around South America or dropping the goods on the west coast and then moving them by road or rail, we will see no drop in shipping through the Panama Canal. This will have the possibility of making Panama one of the richest countries in South America.

Here is a link to the article on Panama-Guide
http://www.panama-guide.com/article.php/panama-will-boost-canal-tolls