PANAMA CANAL WILL FURTHER REDUCE DAILY TRANSITS IF DROUGHT CONTINUES

The Panama Canal could further reduce the maximum number of vessel transits authorized per day if a drought that has hit the waterway this year continues, its administrator said on Tuesday. The canal began restricting vessel draft and authorized daily passage earlier this year to conserve water, which has triggered a backlog of ships waiting to pass the key global trans-oceanic way, which handles an estimated 5% of world trade.

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