Sunday, 3 February 2013

Regions Rush to Meet The Needs of The Panama Canal Expansion

The biggest construction project in the world is 50 percent complete. Industry experts wait in anticipation as the $5.25 billion expansion of the Panama Canal continues. Once this enormous project is completed, larger container vessels will be able to sail into deeper harbors, which traditionally were unavailable. Port authorities all over the world are spending billions of dollars, dredging channels, blasting tunnels and buying cranes, to accommodate these changes in efficiency.

The two new flights of triple locks will double the canal capacity, and allow shipment for vessels with three times the amount of cargo, when the passageway opens for business; in early 2015. Countries worldwide are scrambling to lure the new generation of container ships to their ports, nobody wants to "miss the boat." Perhaps the most prominent of these, is the U.S.A. At the moment, there are only 3 ports on the American East Coast, that should be ready for the massive container ships: Port of New York, Port of Baltimore and Port of Norfolk. Together, these ports hope to acquire their share of the maritime trade, passing through West Cost terminals; which handle the most U.S. imports from Asia. Nevertheless, the infrastructure in the United States has suffered from years of delayed maintenance, that continues to challenge the U.S’ ability; to compete on the global stage.

America is not the only place where shipping ports are making enormous investments. There are ports in the Bahamas, Jamaica, Chile, Peru, Brazil, Colombia and the Dominican Republic, that are rushing to upgrade their facilities to meet the shipping industry's demands, in hopes that the larger container vessels will enter their harbors; too. Regions throughout the world are continuing to prepare for the opening of the new Panama locks; modernizing infrastructure and dredging channels, in fear of their ports possibly being passed up.


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