With shipping companies already dealing with disruptions in the Red Sea due to attacks on ships, word comes that another important trade route is being forced to curtail traffic.
A severe drought that began last year has forced authorities to slash ship crossings in the Panama Canal by 36 per cent.
The cuts announced Wednesday by authorities in Panama are set to deal an even greater economic blow than previously expected.
Panama Canal administrator Ricaurte Vasquez now estimates that dipping water levels could cost them between $500 million US and $700 million US in 2024, compared to previous estimates of $200 million US.
One of the
