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New Panama Canal will benefit US East Coast

The expansion of the Panama Canal will bring great benefits for the US ports on the East Coast, where up to 10 percent of container traffic from the US to Asia will shift from West to East, according to a new analysis.

Photo: RINA

US ports on the East Coast can look forward to increased volumes in container traffic when the expansion of the Panama Canal is finished in 2016, according to a new analysis compiled by consultant agency Boston Consulting Group (BGC) and CH Robinson, writes Seatrade Global.

According to the analysis, upwards of 10 percent of the container traffic from the US to East Asia will shift from the ports on the West Coast to the US East Coast in 2020. The expansion will thus increase competition between the ports, where the players on the West Coast will continue to handle more traffic than they do currently due to the increased container trade, but will not see the same level of growth, and they will experience declining market shares due to the expansion of the canal, according to the analysis.

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