Ship traffic using the canal accounts for about 3.5 per cent of global trade. Read more at straitstimes.com.
PANAMA CITY - The Panama Canal will expand restrictions on the largest ships crossing the waterway, one of the world’s busiest trade passages, the canal authority’s administrator said on Wednesday, citing shallower waters due to drought.
Ship traffic, including container ships and oil tankers, using the canal between the Atlantic Ocean and Pacific Ocean accounts for about 3.5 per cent of global trade. El Nino, a periodic warming weather phenomenon, has brought a severe drought along the Pacific coast.
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