Information reaching the national capital here indicate extending the restrictions would allow the canal some room to preserve water before the next rainy season. This is a peak season because December is approaching and merchandise for Christmas is moving fast.
Water levels in the canal have not recovered enough and limits on daily transit and vessel draft will stay in place for the rest of the year and throughout 2024, the waterway’s authority has said. This is an alarming situation.
The global waterway handles an estimated 5% of world trade. If the situation remains the same, there will be expensive freight costs ahead of the approaching Christmas season.
Some of the shipping companies are paying astronomical charges to beat the congestion, says a report in Business Insider. “A $2.4 million price tag was the winning bid for an auction held by the canal authorities for vessels to secure slots to sail through the waterway,” the newsmagazine said in a report. The containers are stuffed with items including furniture, building material, and consumer goods. Some carry oil, gas, and grain. The Panama Canal is a vital gateway for global shipping. An estimated $270 billion worth of cargo passes along the canal each year en route to over 170 countries.
هذه القصة مأخوذة من طبعة September 10, 2023 من The Sunday Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 10, 2023 من The Sunday Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
MG Windsor recorded 15,176 bookings on first day
MG Windsor EV, India's 1st Intelligent CUV, received a significant customer response minutes after the bookings commenced on Thursday, October 3, 2024, at 7:30 am.
HERO MOTOCORP SOLD 5.12 LAKH UNITS OF MOTORCYCLES AND SCOOTERS IN AUGUST
Hero MotoCorp, a manufacturer of motorcycles and scooters, sold 512,360 units of motorcycles and scooters in August 2024, the company informed the exchange in a filing.
Govt subsidies, falling battery prices to make EVs more accessible
Government subsidies and declining battery prices are making electric vehicles (EVs) more accessible even though they still have higher upfront costs than conventional internal combustion engine (ICE) vehicles, Axis Securities said in an analysis.
eHUB by MG app crosses 15,000 downloads in two months
SW MG Motor India today announced that it has achieved a milestone of 15,000 downloads for the eHUB by MG app since its launch on 6th August this year.
GOVT NOTIFIES PM E-DRIVE SUBSIDY SCHEME WITH RS10,900 CR OUTLAY
The central government notified the PM Electric Drive subsidy scheme with an outlay of Rs10,900 crore, which will be implemented from tomorrow, October 1, 2024, till March 31, 2026.
The all-new BMW M4 CS launched in India
The car will be available in the country as a Completely Built-Up (CBU) model and can be booked at the BMW dealership network.
SC dismisses review petitions on taxation of mines
The Supreme Court has dismissed petitions seeking a review of its landmark 9-judge bench judgment, which affirmed that states possess the authority to levy taxes on mineral-bearing lands and clarified that royalties on extracted minerals do not constitute a tax.
COURT PLACES ASHISH PANDEY IN CBI CUSTODY
A court in Kolkata has recently placed Sandip Ghosh, the former principal of RG Kar Medical College and Hospital, and suspended police officer Abhijit Mondal in 14-days of judicial custody.
MP HC dismisses plea of man booked for offensive post
The Madhya Pradesh High Court has dismissed a petition from a man seeking to quash an FIR related to an allegedly offensive post on his Instagram account targeting Lord Ram, Uttar Pradesh Chief Minister Yogi Adityanath, and Hinduism.
CJI reminds lawyer he's 'still in charge'
Chief Justice of India (CJI) DY Chandrachud, who is set to retire in November, reminded a lawyer on Thursday that he is \"still in charge\" despite his short remaining tenure.