The panama canal expansion will address both capacity issues with a new set of locks and wider deeper channels allowing more vessels and larger vessels to travel through the canal. Map by superfuture more than half the 5 25 billion budgeted for the expansion of the panama canal 3 35 billion will be spent on new single lane three step locks at the atlantic and pacific.
Main Components Of The Panama Canal Port Economics Management
Following the panama canal expansion up to 10 percent of container traffic to the u s.
Panama canal expansion map
. From east asia could shift to east coast ports by 2020. By providing a shorter relatively inexpensive passageway between these two great bodies of water the canal has influenced world trade patterns spurred growth in developed countries and has been a primary impetus for economic expansion in many remote areas of the world. The changing logistical landscape growth rates for the. Since its inauguration on june 26 2016 the expanded canal not only exceeded traffic expectations but also reaffirmed its environmental leadership in the maritime industry prioritizing water savings and contributing to the reduction of co2 being a shorter route and offering greater cargo capacity to its customers.
The panama canal expansion project spanish. The expanded canal began commercial. Editor march 12 2018. The new ships called new panamax are about one and a half times the previous panamax size and can carry over twice as much cargo.
West coast ports will still handle more traffic than they do today but their market share will likely fall. After an intensive construction program 2009 2016 the cocoli and agua clara locks added a third lane to the panama canal for the transit of neopanamax vessels. Published 11 03 2015 by bcg ch robinson. The panama canal with its uinque location at the narrowest point between the atlantic and pacific oceans has had a rar reaching effect on world economic and comercial developments throughout most of the 20the century.
The capacity of the canal will double and the operating costs of shipping between east asia and the east coast could fall by up to 30 percent because the labor and fuel costs per container are lower on these larger vessels. We assume that carriers will pass along these cost reductions to shippers since the. Wide open how the panama canal expansion is redrawing the logistics map. Ampliación del canal de panamá also called the third set of locks project doubled the capacity of the panama canal by adding a new lane of traffic allowing for a larger number of ships and increasing the width and depth of the lanes and locks allowing larger ships to pass.
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