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Panama Canal widening brings new headaches

Tuesday, November 29, 2016

Container ships less than a decade old are potentially on the block for scrap value as a widening of the Panama Canal earlier this year plays havoc with a market already under strain from a crash in freight rates.

An expanded Panama Canal opened in June to ships three times bigger than those previously called Panamax. In response, many shipping firms are now weighing whether smaller ships are obsolete.

Source: CNBC