Shipping rates fall as new canal locks open

Container shipping rates have fallen by around twelve per cent since the opening of larger locks on the Eastern Canal, which allow bigger ships to pass.

Port operators expect traffic through the canal to rise by a quarter next year, shortening many routes between the two oceans by several days.

Business groups in the region said the decision would make planning easier and could attract new investment.

Our correspondent reports that the mood in the capital was calm, with daily life continuing much as usual.