5 Major Shipping Routes for Global Trade in 2023

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1. Panama Canal

The Panama Canal tops our list of the 10 major shipping routes for global trade in 2023. The Panama Canal revolutionized the global shipping industry construction was completed over a century ago and greatly reduced shipping times. By 2012, over 850,000 vessels had passed the route and according to the American Society of Civil Engineers, was declared to be one of the Seven Modern Wonders of the Word. In 2023, the Panama Canal was greatly impacted by droughts which significantly reduced water levels in the canal and the impact is expected to carry over to 2024, though container shipping is less likely to be impacted.

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