Purchase of Panama railway 'a significant opportunity' for ambitious APMT
Maersk’s port arm, APM Terminals, has bought the Panama Canal Railway Company (PCRC), which runs ...
Maersk said yesterday it would ’sidestep’ the Panama Canal and use freight rail to get cargo across Panama.
Its Oceania-Americas (OC1) service usually goes through the Panama Canal, unloading cargo for South America at the ports at Cristobal and Cartagena, before heading to the US east coast gateways of Philadelphia and Charleston.
The canal saw throughput of 10.9m in 2022, but with its water levels in the doldrums, thanks to the El Nino phenomenon, draught restrictions ...
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