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SeaIntel: Shipowners in line for major profits on Panama Canal expansion

The major container carriers will derive marked savings on fuel. The expansion of the Panama Canal could also lead to new integration of services between shipowners, estimates SeaIntel in an analysis.

The major container carriers are in line for significant profits in the form of marked savings on fuel and possible integration of services to reduce unit costs once the expansion of the Panama Canal has been completed in 2014-2015. Since the decision was made back in 2006, the expansion of the Canal has resulted in major building projects at ports on the American East Coast and in the Caribbean in order to make room for the much larger ships which will sail through the Panama Canal.

This is the conclusion drawn by the analyst firm SeaIntel in a mapping of the expansion and its consequences including a whole new traffic pattern. A mapping which seems in part to support comments made by the Canal administration’s Jorge L. Quijano (photo) in an interview with ShippingWatch on Wednesday. Quijano claims that Maersk Line, the Panama Canal’s most frequent user so far, will return to the Canal once the expansion is completed and that the company’s “relocation” is only temporary. Quijano also claims that new prices will be negotiated for passages.

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