Insights - July/August 2017 - 11
2017 East Coast Cargo Growth Aided by
Panama Canal Expansion as Intermodal
Expands Through North America
D
uring the first year of the long-awaited Panama Canal expansion, international
shipping trends appear to have begun changing gradually, increasing East Coast
cargo volumes as part of a surge in North American container trade growth.
The $5 billion expansion took a decade. The period after
Panama's funding approval was filled with lofty predictions of
cargo shifts and widespread investment in expectation of what
would happen once COSCO's 9,472 TEU Development transited
the waterway on June 26, 2016, when the expanded canal
opened. What has emerged since then is a complex picture,
featuring 2017 TEU throughput increases on both coasts, related
landside challenges and, varying perspectives, with an emphasis
on gradual, not immediate, change.
"It is still early to make a formal assessment of how much
cargo has shifted between the West and East Coasts as a result
of the canal project," Hofstra University Professor Jean-Paul
Rodrigue told Intermodal Insights. "All of the hype that preceded
the expansion hasn't yet come to pass." He cited statistics
showing that there hasn't yet been any significant shift on an
annual basis. In total, East and Gulf Coast ports last year handled
just 0.7 percent more TEU than in 2015.
This year tells a noticeably different story. East Coast TEU
totals during the first half of 2017 have showed strong growth,
including several record-setting periods. Virginia and South
Carolina ports rose 8.3 percent and 14.6 percent respectively.
Savannah, Georgia rose 11 percent over five months. New York
and New Jersey's docks, which couldn't be reached by the largest
vessels because a clearance project wasn't completed until June
30, reported that cargo increased 5.4 percent through May.
'Exceeded Expectations'
"The expanded Panama Canal's performance has far
exceeded expectations since the inauguration," said Oscar Bazan,
executive vice president for planning and business development
Expansion - continued on page 13
The OOCL France is the largest container vessel ever to transit the expanded Panama Canal.
July/August 2017 | Intermodal Insights
11
Table of Contents for the Digital Edition of Insights - July/August 2017
IANA News
Suppliers, Carriers Intensify Chassis Utilization to Aid Productivity
2017 East Coast Cargo Growth Aided by Panama Canal Expansion as Intermodal Expands Through North America
Intermodal Terminal Safety: Progress Continues, Always More to Be Done
Intermodal Has Key Role in Transport Mergers, Acquisitions
Freight Report
Directive 92/106: The European Union’s Intermodal Legislation
Government News
Intermodal Information Services News
People News
New Members
Intermodal Calendar
Insights - July/August 2017 - Cover1
Insights - July/August 2017 - 2
Insights - July/August 2017 - 3
Insights - July/August 2017 - IANA News
Insights - July/August 2017 - 5
Insights - July/August 2017 - 6
Insights - July/August 2017 - Suppliers, Carriers Intensify Chassis Utilization to Aid Productivity
Insights - July/August 2017 - 8
Insights - July/August 2017 - 9
Insights - July/August 2017 - 10
Insights - July/August 2017 - 2017 East Coast Cargo Growth Aided by Panama Canal Expansion as Intermodal Expands Through North America
Insights - July/August 2017 - 12
Insights - July/August 2017 - 13
Insights - July/August 2017 - 14
Insights - July/August 2017 - Intermodal Terminal Safety: Progress Continues, Always More to Be Done
Insights - July/August 2017 - 16
Insights - July/August 2017 - 17
Insights - July/August 2017 - 18
Insights - July/August 2017 - Intermodal Has Key Role in Transport Mergers, Acquisitions
Insights - July/August 2017 - 20
Insights - July/August 2017 - Freight Report
Insights - July/August 2017 - Directive 92/106: The European Union’s Intermodal Legislation
Insights - July/August 2017 - 23
Insights - July/August 2017 - Government News
Insights - July/August 2017 - Intermodal Information Services News
Insights - July/August 2017 - 26
Insights - July/August 2017 - People News
Insights - July/August 2017 - New Members
Insights - July/August 2017 - 29
Insights - July/August 2017 - 30
Insights - July/August 2017 - 31
Insights - July/August 2017 - 32
Insights - July/August 2017 - 33
Insights - July/August 2017 - 34
Insights - July/August 2017 - Intermodal Calendar
Insights - July/August 2017 - 36
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