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The Panama Canal to reclaim its market share

The Panama Canal (ACP) has lost three percent of its business over the last couple of years. Now the old waterway between the Pacific and the Atlantic is ready to fight back to reclaim what was lost with a series of discount proposals to its customers. "Søren will be back," ACP-administrator Jorge Quijano tells ShippingWatch.

Panama Canal administrator Jorge Quijano is determined to regain lost market shares.

LONG BEACH, CALIFORNIA

It has a notable financial impact on the Panama Canal when one of the ocean liners chooses not to use the more than 100 years old waterway that links the Pacific to the Atlantic Ocean. When Maersk Line decided to use the Suez Canal for two of its US East Coast – Asia trades instead of Panama it resulted in a loss of revenue of around USD 80 million per year.

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