Panama Canal to Open Amid Shipping Downturn

June 22, 2016 7:16 PM

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The $5.25 billion expansion of the Panama canal is set to open Sunday at a difficult moment for the international commercial shipping market.

Canal Administrator Jorge Luis Quijano says the shipping market is cyclical, and will rebound.

Also read: Union Pacific to layoff 750 U.S. employees amid broader cost-cutting

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