Mexico may have an alternative to the Panama Canal

Right now, the shipping backlog on the Panama Canal is up to 26 days. That is due to the water system experiencing its driest October in more than 70 years.

A Mexican railway could help relieve pressure along the Panama Canal. Mexico is working to divert traffic away from the Panama Canal through a new logistics corridor that connects the Atlantic and Pacific Oceans.

The country put around $62 billion into the project to upgrade the railway, buy land for industrial parks, and acquire new machinery. Transit on this railway would take around six hours and it is expected to be unveiled next month.

Right now, the shipping backlog is up to 26 days. That is due to the water system experiencing its driest October in more than 70 years.

Related Stories
Wildfires have broken out in Kansas, consuming thousands of acres north of Manhattan.

LATEST STORIES BY THIS AUTHOR:

Congress has already approved more than $11 million for design work and $45 million for the first phase of construction, which is set to begin next month.
Ongoing dryness is taking its toll on corn crop production in Mexico and South Africa, two other top global corn producers, as U.S. corn producers see some relief.
The inflation rate seems to be dropping faster here in the United States than in Canada, but according to the chief economist with one of Canada’s largest banks, looks can be deceiving.
High input costs are standing in the way of farmers intending to shift to more sustainable practices, according to research by McKinsey and Company.
A recent Cannonball Jellyfish bloom off the coast of Venezuela is a major concern for the seafood industry that fish those waters.