Global chain transport challenges, the war in Ukraine, and following two years of lockouts caused by the Covid 19 pandemic have caused many disruptions to normal trade and China has thus embarked in a major project building a new port along the Peruvian coast to help boost trade along the Pacific rim.
Panama opened the long-delayed US$5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping industry and a heated battle over billions in cost overruns.
China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway's inauguration on Sunday, June 26. The vessel, which has a maximum capacity of 9,400 TEUs, is 48.25 meters in beam and 299.98 meters in length.