MARAD Examines Impacts of Panama Canal Expansion

MarineLink.com
Monday, November 25, 2013
Chip Jaenichen

The U.S. Department of Transportation’s Maritime Administration (MARAD) today released a study on shipping patterns and industry costs that will help the United States prepare for the anticipated impact on its ports, waterways and intermodal freight systems from the Panama Canal expansion. The expansion of the Panama Canal, scheduled for completion in 2015, will give much larger vessels, called “Post Panamax” vessels, greater access to the U.S. ports on the East and Gulf coasts.

“America’s ports keep our economy moving,” said U.S. Transportation Secretary Anthony Foxx. “This study can serve as a compass to guide our port investments in the Post Panamax world so our nation’s ports can accommodate larger vessels and help maintain our global competiveness.”

The Panama Canal Expansion Study, the first of a two-part study, found the integration of Post-Panamax vessels into U.S. trade lanes will have substantial implications for the nation’s shippers, ports and surface freight corridors, particularly along the East Coast, Gulf Coast and inland states located east of the Mississippi River. In addition, more cost-effective service generated by the larger vessels could improve the ability of some U.S. exports, like grain, coal, petroleum products and liquefied natural gas, to compete in global markets. In addition, the report noted that shifts in shipping patterns impacting the national transportation system will occur slowly and over time.

“Preparation is the key, and we’re already seeing it,” said Acting Maritime Administrator Paul “Chip” Jaenichen. “Increased cargo means expanded capacity, and forward-looking ports are deepening their harbors and improving their intermodal connections, often with the help of the Obama Administration’s programs, such as the competitive TIGER (Transportation Investment Generating Economic Recovery) Grant program.”

Infrastructure investment and the development of the nation’s ports and waterways have been among President Obama’s top priorities since the first day of his Administration and are major components of his proposal to support middle class jobs. Since 2009, the Obama Administration has directly invested more than $400 million in infrastructure projects at 33 U.S. ports in 22 different states through the TIGER program alone, all to improve the condition, efficiency and capacity of the nation’s ports, including roads, rail and waterside corridors that connect them with producers and consumers.  

Some anticipated infrastructure development needs are currently being met as part of the Obama Administration’s “We Can’t Wait” economic initiative, which expedites the permitting and review process for regionally significant infrastructure projects. To date, the Administration has expedited seven infrastructure projects to help modernize and expand five major U.S. ports, including the Port of Jacksonville, the Port of Miami, the Port of Savannah, the Port of New York and New Jersey and the Port of Charleston.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Petrobras Announces new President, Management Changes

Petrobras reports that it has received the letter of resignation of Mr. Aldemir Bendine the functions of a member of the Board of Directors and President of the Company today.

Strategic Marine Building Luxury Crewboat

Strategic Marine announced the kick-off of its first collaboration with PT. Pelayaran Tanjung Kumawa, expecting to deliver an exclusive luxury crewboat in November this year.

Harding Sold to Palfinger

The PALFINGER Group has signed today the acquisition of 100 per cent of the shares in Herkules Harding Holding AS and thus, the globally operating Harding Group.

Government Update

1,076 Graduate from U.S. Naval Academy

The U.S. Naval Academy graduated 1,076 men and women at the annual graduation and commissioning ceremony May 27 at Navy-Marine Corps Memorial Stadium. U.S. Naval Academy Superintendent Vice Adm.

Details El Faro's Sinking Emerge from US Probe

U.S. investigators on Friday concluded two weeks of hearings into the sinking of cargo ship El Faro in a hurricane last fall that included reports the vessel had

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Logistics

BigLift Transports Two Siwertell CSU’

Earlier this month, BigLift Shipping’s Happy Dynamic successfully transported two 560 mt Siwertell Continuous Ship Unloaders (CSUs) from Chioggia, Italy, to Liverpool, UK.

Singapore Shipping Profits Up

Singapore Shipping Corporation(SSC)'s  net profit increased 7.8 per cent to US$9.6 million for the financial year ended March 31, 2016, compared to the previous year.

Shipping Corp Seafarers on Hunger Strike

Around 200 seafarers with Shipping Corporation of India (SCI), the country's largest shipping company, are on a hunger strike (industrial action) since Saturday over wages and arrears.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1477 sec (7 req/sec)