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
WHEN PHILANTHROPY AND SEVA COME NATURALLY
On a bitterly cold January evening a group of devotees of Saint Jalaram are serving hot nutritious food to the homeless and destitute in the Holborn area of London. University students too can be seen in the queues. Saint Jalaram was born in 1799 in Gujarat.
BMW Motorrad India to raise prices by up to 2.5%
BMW Motorrad India will increase prices by up to 2.5% across the model range. The new prices will be effective from 01 January 2025 onwards.
Volvo Group partners with Indian universities to shape future automotive talent
Volvo signs MoU with Amrita University and Thapar Institute to build a stronger industry-academia engagement and enhance the engineering industry readiness.
NO GOVERNMENT INTERVENTION TO DETERMINE PRICE OF VEHICLES TO BE SCRAPPED
In a written reply to the Lok Sabha, Union Minister for Road Transport and Highways, Nitin Gadkari said that there will be no government intervention for determining the fair price for a vehicle to be scrapped.
GADKARI VOWS TO MAKE AUTO INDUSTRY NO. 1
The Indian automobile industry ranks third globally, behind China and the United States, but the government aims to elevate it to the top position within the next five years, Union Transport Minister Nitin Gadkari stated.
Maruti to ramp up exports by over two-fold to 8 lakh units by 2030-31
Maruti Suzuki India is aiming to export about 8 lakh vehicles annually by the fiscal year 2030-31, from its current exports of around 3 lakh units.
ALLAHABAD HIGH COURT SUMMONS POLICE COMMISSIONER ON CONTEMPT PETITION
The Allahabad High Court has recently summoned Prayagraj Police Commissioner Tarun Gauba and other officials to appear on December 10 regarding a contempt petition.
GULFISHA, KHALID SEEK BAIL ON GROUNDS OF PARITY
Several individuals accused in the larger conspiracy case related to the 2020 Delhi Riots, including Gulfisha Fatima, Abdul Khalid Saifi, and Shifa Ur Rehman, have approached the Delhi High Court on Tuesday seeking bail.
Delhi HC directs CBI to appoint senior officer for RAU Study Circle case
The Delhi High Court has recently directed the Central Bureau of Investigation to appoint a senior officer to regularly monitor the investigation into the RAU's IAS Study Circle case.
Delhi HC directs govt to submit report on AHF injection stocks
The Delhi High Court has recently instructed both the Centre and the Delhi government to submit reports on the current stock of Antihemophilic Factor injections, which are essential for treating haemophilia, a rare genetic disorder.
