Tuesday, October 25, 2016

Expanded Panama Canal to affect North American logistics flows

MMD: "In New York, for example, harbour navigation channels were deepened, and the Bayonne bridge, at the entrance of Newark Bay, is being raised. The project was touted as possibly “the most important and influential project related to modern day economics in the Northeast. Modern-day container ships may now enter the port fully loaded and safely,” said Col. David Caldwell, the Army Corps’ New York District Commander.

“Completion of the harbour deepening project is a major milestone in our efforts to meet the needs of the region’s 23 million consumers now and in the future,” said Port Authority Port Department Director Molly Campbell. “It culminates more than 25 years of work and $6 billion in public and private sector investment to ready the port for the new generation of vessels, and will continue to support the 336,000 jobs and billions in economic activity the port generates.”

The New York project will ensure that area businesses have easier and more affordable access to global markets with the completion of the Panama Canal expansion—and improve the shipping of goods to nearly 100 million American consumers living on the East Coast."