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 Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

United Heavy Lift Gears up for the Asian Boom

All set to expand its footprint in the South Asian market significantly, Hamburg based, United Heavy Lift (UHL) appointed strategically placed Lexicon Overseas Pvt Ltd.

USCG Reopens Key West Ports After Erika Dissipates

Effective 9:30 a.m., Saturday, Capt. Jeffrey Janszen, Coast Guard Captain of the Port, reopened Key West, Florida, ports, terminals and facilities due to Tropical Storm Erika dissipating.

DP World Profit Up 22%

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2015,

News

Obama Defends Arctic Oil Drilling

United States' President Barack Obama defends his decision to allow Royal Dutch Shell to drill for oil in the Arctic Ocean.   He insisted that there was no contradiction

Optimistic on VLCC Market

Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards.   The demand is expected to remain elevated with

Eni Finds Giant Egyptian Offshore Gas Field

The Italian energy major Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea.

Government Update

Britain Pumps GBP500mln into Scottish Naval Base

The Royal Navy’s submarine base at Faslane – home to Britain’s nuclear deterrent – is to receive a more than 500 million pounds investment grant from the Government, reports Reuters.

Iranian Ship, Crew Escape Captivity off Somali Coast

An Iranian fishing vessel and its crew have escaped after being held captive for five months by Somali fishermen, maritime piracy experts said on Friday, but it

Migrant Boat Sinks off Libya; 200 Feared Dead

A boat packed with mainly African migrants bound for Italy sank off the Libyan coast on Thursday and officials said up to 200 might have died. A security official in the western town of Zuwara,

Logistics

Optimistic on VLCC Market

Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards.   The demand is expected to remain elevated with

Goldenport Bleeds in Red

Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier

Strong Returns for Sovcomflot

Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
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: 0.4769 sec (2 req/sec)