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The project to widen the Panama Canal was initiated in 2006. 5.6 billion dollars was approved for the project and it is currently due to be completed in 2014. Two major issues are addressed by this expansion project:
The super sized cargo carriers are vessels with capacities of at least 12,000 20-foot equivalent units. They are longer than aircraft carriers and are more fuel efficient and environmentally friendly than past ships. Some cargo costs will drop as these carriers become the norm for global shipping, but they are only being used now for shipments from Asia to the US west coast.
Currently these large cargo ships from China can only port on the West Coast (mainly Los Angeles and Long Beach) as they can’t get to the east coast. However once the canal project is completed, these super cargo ships will be able to deliver product to ports in the gulf of Mexico and all the way up the eastern coast.
Experts are expecting some changes in the US transport Industry:
No one is predicting exactly how these changes will impact the US and Global economy, but many economists are labeling the widening of this canal a “game changer”.
Packnet specializes in export crating and packaging services, we offer on-site services as well as packing at the Packnet facility.