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China's marine shipping for exports to the EU and the US has been affected by the disruption of two prominent global canals - the Panama Canal and the Suez Canal - due to drought and geopolitical factors, leading to a surge in shipping costs and delivery delays, Chinese industry insiders told the Global Times on Sunday.
The total amount spent by shipping companies this year to get an earlier spot in the line now totals $235 million, Bloomberg reported.
The first vessel was expected to make a transit today at the Panama Canal using a new, temporary special auction slot as the Panama Canal authority t...
The Panama Canal, one of the world's main maritime trade routes, announced on Friday it is launching a special auction slot on Saturday, as it battles
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