Maersk Line Hints at Increasing Use of New Panama Canal

Image Courtesy: Maersk Line

Danish container shipping giant Maersk Line is likely to make increased use of the Expanded Panama Canal and reroute one or more services with larger vessels to begin sailing through the new Panama Canal locks, according to the company.

In 2016, Maersk Line is expecting to perform more than 400 vessel transits through the Canal whilst carrying more than 400,000 containers.

“We look forward to seeing our larger vessels pass through the new locks. It is a very positive development for trade, Panama and the region, and of course the shipping lines that transit this important corridor every day,” Søren Toft, Chief Operating Officer, Maersk Line, said.

The Panama Canal accounts for roughly 5% of world sea trade and the expanded Panama Canal is estimated to generate a 3% increase in cargo volumes transiting the canal. Since 60% of the Panama Canal traffic either begins or ends in US ports it will have a direct, notable impact on the trade between Asia and the United States East Coast.

“The expansion provides us with more options, most notably to our Asia to South America and Asia to US East Coast routes. It is likely that Maersk Line will make increased use of the expanded Panama Canal and adjust one or more services with larger vessels to begin sailing through its new locks,” said Anders Boenaes, Head of Network, Maersk Line.

The extension of the Panama Canal will double the waterway’s capacity and allow the passage of larger vessels, from the so-called Panamax vessels that carry up to 5,000 TEUs to the New Panamax vessels with a capacity of up to 14,000 TEUs.

The USD 5.25 billion Expanded Panama Canal is now officially open for business, as the new waterway handled its first commercial transit when the Neopanamax containership COSCO Shipping Panama sailed through its Agua Clara and Cocoli locks yesterday.

The regular schedule of transits through the canal is expected to start on June 27.

There are currently 170 reservations for Neopanamax ships, commitments of two new liner services to the Expanded Canal, and a reservation for the first LNG vessel, which will transit in late July.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >