A huge 984-foot ‘Cosco Shipping Panama’ carrying 9,472 containers completed the first official voyage on June 26th (2016) through the new expanded massive locks of the Panama Canal. The $5.4 billion project to expand the 102-year-old canal took almost 10 years and 40,000 workers to complete.
The new set of locks now allows ships carrying up to 14,000 containers to cut a quicker path between the Atlantic and Pacific oceans. U.S. ports have been investing billions of dollars to expand their facilities in a race to accommodate the mega ships.
In November, JOC reported that the Panama Canal overtakes the Suez on Asia – US East Coast Route.
The Panama Canal has overtaken the Suez Canal as the favored transit route for carriers operating services between Asia – US East Coast following the widening of the Central American waterway.