The rivalry between the world's two key hubs for global ship traffic, The Panama and Suez canals, will become fiercer - especially the fight for the routes between Asia and the US East Coast, once the Panama is completed in eight months' time, according to plan, in April 2016.
The opening of the new locks in the Panama Canal next year will enable carriers to replace their Panamax tonnage with far bigger ships, and for routes between Asia and the US East Coast, the canal will get a shot at regaining a majority of the market shares lost to Suez since since 2008, according to analyst agency Alphaliner.
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