The drop in Panama Canal traffic due to a severe drought could cost up to $700 million

By Associated Press

Jan 19, 2024 10:06 am

PANAMA CITY: A severe drought that began last year has forced authorities to slash ship crossings by 36% in the Panama Canal, one of the world's most important trade routes.

The new cuts announced Wednesday by authorities in Panama are set to deal an even greater economic blow than previously expected.

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