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Panama Canal's delays pushes shippers to seek alternatives
Posted on August 14, 2023 |
Shippers are actively adjusting Asian shipments amid Panama Canal operational challenges.
Panama Canal Authority responded to the unusual drought with reduced draft and transit.
Administrators are exploring alternatives to address climate change's impact on the canal.
Canal administrators stressed the adaptation for continued relevance in trade.
Royal Caribbean canceled Panama Canal crossings due to the canal's soaring congestion.
waiting times for merchant ships are increasing which started at 15 on August 1 and now reached 20 days along with backlog.