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Panama Canal Traffic Cut by Third, Adds to Red Sea Woes – AP

Canal authorities blamed the drought on the El Niño weather phenomenon and climate change, and warned new water sources needed to be found

Containers at the Yangshan Deep Water Port in Shanghai
Containers at the Yangshan Deep Water Port in Shanghai.


One of the most severe droughts to ever hit Central America has forced authorities to restrict shipping using the critical Panama Canal by more than a third, AP News reported.

The move has led to chaos along the 50-mile (80km) maritime route, causing a traffic jam of vessels, the report went on, and comes amid shipping bosses rerouting away from the Red Sea and Suez Canal after a series of drone and missile attacks by Iran-backed Houthi rebels.

The combination of events is already having far-reaching effects on global trade by delaying shipments and raising transport costs, analysts say.

Read the full story: AP News


  • By Sean O’Meara


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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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