Monday, June 27, 2016

Panama Canal expands, opens third lane

Fleet Owner: "A lot of those peaks and valleys have to do with the East Coast ports and how they have been gearing up for the expansion. The biggest problem, Gross noted, is the port of New York and New Jersey, which is an integral part of the ship commodity on the East Coast. Three of the port’s four major terminals could accept the larger container ships, but they are on the wrong side of the Bayonne Bridge, which remains too low to accommodate these new titanic cargo ships. Though the bridge is being raised, that effort isn’t expected to be completed until 2017."