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How Much More Cargo Will The Panama Canal Bring to The US East Coast?
The expanded Panama Canal officially opened June 26th with much fanfare. Vessels holding 5,000 to 14,000 containers are now able to pass through its channel thus allowing for greater opportunities for more US ports. In the latest Twitter survey, we asked if diversion of container traffic is expected from the US West coast to the Gulf and East coast ports.
How Much More Cargo Will The Panama Canal Bring to The US East Coast?
- 1. HOW MUCH MORECARGO WILL THE PANAMA CANAL BRINGTO THE US EAST COAST?
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- 3. ABOUT XENETA At Xeneta webelieve there is an untapped potential for everyone in the industry, to systematically learn from our individual and collective efforts. We hold true that "if you cannot measure it, you cannot improve it". That’s why we think actionable metrics is the key to continuously evolve for every business, and ultimately the entire industry. Rethinking global logistics is the vision of Xeneta. With international experience from the logistics industry, we have first-hand knowledge of the challenges related to high volatility and lack of transparency in the ocean freight market. By combining logistics background and information technology expertise, we found the solution to these challenges. WE ARE TRANSFORMING GLOBAL LOGISTICS
- 4. ARE YOU PAYINGTHE RIGHT CONTAINER FREIGHT RATES? DISCOVER SAVINGS POTENTIAL IN REAL TIME. CONTACT US.
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- 6. THE EXPANDED PANAMACANAL OFFICIALLY OPENED WITH MUCH FANFARE. VESSELS HOLDING 5,000 TO 14,000 CONTAINERS ARE NOW ABLE TO PASS THROUGH ITS CHANNEL THUS ALLOWING FOR GREATER OPPORTUNITIES FOR MORE US PORTS.
- 7. DIVERSION OF CONTAINER TRAFFIC ISEXPECTED FROM THE US WEST COAST TO THE GULF AND EAST COAST PORTS. INTHE LATEST TWITTER SURVEY,WE ASKED IF
- 8. THE RESULTS WEREMIXED AS MANY PEOPLE REMAIN UNCERTAIN OF WHAT TO EXPECT HOWEVER, THE MAJORITY OF RESPONDENTS, 36% OF THE TOTAL RESPONSES, BELIEVED 1% TO 7% OF CONTAINER VOLUME COULD TRANSFER AWAY FROM THE WEST COAST PORTS. THIS WAS FOLLOWED WITH 28% OF RESPONDENTS INDICATING THAT MORE THAN 15% OF CONTAINER VOLUME COULD BE DIVERTED TO GULF AND EAST COAST PORTS WHILE 27% NOTED AN 8% TO 14% DIVERSION AND 9% OF RESPONSES INDICATING THERE WILL BE NO DIVERSION.
- 9. HOW MUCH MORE CARGOWILLTHE PANAMA CANAL BRING TOTHE US EAST COAST?
- 11. CLEARLY NO ONEIS SURE WHATTO EXPECT BUT ONE THING IS CERTAIN,THE MAJORITY OF US GULF AND EAST COAST PORTS ARE NOT PREPARED FOR THE MEGA-SHIPSTHAT CAN NOWTRANSITTHROUGH THE CANAL.
- 12. IT IS LIKELYFOR THE TIME BEING AT LEAST, SMALLER VESSELS WILL BE RESPONSIBLE FOR THESE ANTICIPATED DIVERSIONS WHILE THE GULF AND EAST COAST PORTS SCRAMBLE TO FINISH INFRASTRUCTURE PROJECTS TO WELCOME THE MEGA-SHIPS. THE SAVANNAH PORT HAS INVESTED AT LEAST $706 MILLION TO DREDGE ITS WATERWAYS USED BY CARGO SHIPS WHILE THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY IS INVESTING $1.3 BILLION TO RAISE A BRIDGE FOR THE NEW, LARGER SHIPS. THE US WEST COAST PORTS DO NOT APPEAR TO BE OVERLY CONCERNED BY THIS POTENTIAL DIVERSION. IN FACT, THE TWO LARGEST PORTS, LOS ANGELES AND LONG BEACH ARE ALREADY PREPARING FOR THE NEXT GENERATION OF VESSELS THAT CAN HOLD UP TO 21,000 CONTAINERS, WHICH THE PANAMA CANAL CANNOT HANDLE.
- 13. STAY TUNED WHO WILL BEAMONGTHE WINNERS? STAY TUNED FOR A NEW BLOG POST NEXT WEEK GIVING AN OVERVIEW ON JUSTTHAT
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