Panama Canal Fights Drought With $8.5B Plan to Secure Future Trade
Panama Canal Administrator Ricaurte Vásquez Morales said the waterway’s sweeping $8.5 billion modernization plan — which includes new port terminals, a gas pipeline, and a water-reservoir project — is designed to keep the 110-year-old canal competitive as global trade patterns and climate pressures evolve.
In an interview with FreightWaves at the Houston International Maritime Conference, Vásquez said the Panama Canal Authority (ACP) is moving forward with two new container terminals — Corozal on the Pacific and Telfers on the Atlantic — expected to add 5 million to 6...
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