The Panama Canal Authority said on the 20th that due to the closure of the Strait of Hormuz due to the Middle East war, the Panama Canal's cargo volume in the last fiscal year reached a record high. The Panama Canal is responsible for about 5% of global maritime trade. The agency said that in the fiscal year from October last year to September of this year, nearly 14,000 ships carried goods through the Panama Canal, with a cargo volume of 521 million tons. The previous record for the highest canal freight volume was 518 million tons in FY2022.

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