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Carriers racing to use the new Panama Canal

Numerous major liner carriers are currently racing to be in the best possible position for the new and expanded Panama Canal. Higher rates on transports to the US East Coast draw carriers, according to Drewry.

Photo: RINA

When the new and expanded Panama Canal opens for business in April 2016, a long line of container carriers aim to be ready with new services from the Far East to the US East Coast.

With the expanded canal, the carriers will be able to send ships of up to 13,000 teu through the important passage, where the limit until now has been at 5,000 teu. As such, this will more than double the number of containers that can pass through the canal, and this fact represents an important tool for the major container players trying to make money in a market characterized by historically low rates and massive overcapacity.

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