Shipping firms pay record sums for fast passage through Panama canal

Shipping firms are forced to pay record sums for fast passage through a backlog of ships waiting to traverse the Panama Canal. A drought exacerbated this situation. A company recently paid US$2.4 million, plus a $400,000 standard fee, for expedited vessel passage, reported Avance Gas Holding Ltd. The ship queue has grown due to drought-induced […]

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