US East Coast ports that are big-ship ready have already been experiencing the benefits of the expanded Panama Canal. The growing value of enhanced infrastructure investments completed in anticipation to the opening of the new canal locks will resume in 2017 as these ports steadily continue to capture new trade.
Before the opening of the expanded canal, only West Coast ports were positioned to receive most of the container traffic in the Asia-US trade. Since the opening of the new locks, major container carriers have been redirecting traffic to make use of the new all-water route. US East Coast ports, big-ship ready, have already started to extend a warm welcome to the post-Panamax ships, with infrastructure enhancements that guarantee reliable and improved speed to market.
In 2017, we anticipate that shippers will continue to move even more cargo to and from the canal to the US East Coast route to cut the cost of fuel and reduce emissions. Only those US ports ready and geared up for the newer generation of post-Panamax ships, which require a water depth of 50 to 52 feet, super post-Panamax gantry cranes, and on-dock intermodal rail connections, will be at an advantage.
However, their true success will not only require enhanced and reliable infrastructure, but also strong partnerships and collaborative efforts among all port partners, including government officials, business leaders, port users, cargo terminal operators, steamship lines, labor unions, and surrounding port communities.