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Panama Canal Expansion Will Spark Transhipment Boom

(Linton Nightingale – Lloyd’s Loading List)

Panama transhipment activity is set for double-digit growth in the wake of the canal expansion project due to be completed next year, according to analysts at Drewry Maritime Research.

The expansion project, which this week reached 85% completion with the installation of the first gate for the new locks at the waterway’s Pacific entrance, will ultimately allow 14,000 teu vessels to transit the canal, increasing demand for transhipment options. 

Drewry has forecast a double-digit jump in Panama transhipment activity as a result of the opening of the expanded canal in 2016, and thereafter annual growth of around 5%. On this basis, Drewry added that Panama Pacific coast throughput of 6m teu would be reached by around 2024. Click here to read more.