The agreement valued Zafin at more than US$500-million based on annual revenues believed to be between US$75-million and US$100-million, according to a source familiar with the sector
The Panama Canal Authority auctions off priority slots to shippers to enter the system, and bids have soared to record levels this year as an El Niño-fueled drought has reduced water levels to an unprecedented low, prompting officials to sharply reduce traffic.
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