Skip to content
Call Now: 1-310-223-0474

Panama Canal ousts Suez as top Asia-US East Coast route

In the few weeks since inaugurating its enlarged locks, designed to receive larger vessels, the Panama Canal has overthrown the Suez Canal as the top route for container shipping services between the United States’ East Coast and the Far East. The Journal of Commerce reports:

The new, larger locks of the Panama Canal, pictured, have allowed the canal to reclaim market share from the Suez Canal that it had lost as container lines increasingly deployed mega-ships in recent years.

The Central American waterway has a 57 percent share of total volume on the trade compared with 48 percent at the beginning of the year, and is set to boost its share further in the coming months as some carriers have yet to introduce larger vessels, according to Alphaliner.

The overall all-water weekly capacity currently stands at 145,000 twenty-foot-equivalent units, up 1.7 percent from a year ago, the industry analyst said.

It is unclear what has driven this shift since the transit time for a direct voyage from Hong Kong to New York is the same through both the Suez and Panama, although actual times depend on port coverage and intermediate stops. Panama has an advantage for origin points north of Hong Kong.

The Egyptian waterway grabbed a substantial market share over the past few years as economies of scale and vessel “cascading” led carriers to deploy 5,500- to 10,000-TEU ships rather than continuing with the classic Panamax vessels of 4,000 TEUs to 5,000 TEUs on the Panama route.

“Now that the old Panama locks’ restrictions have been lifted, the canal is making a strong comeback, regaining much of the all-water market share that was lost to the Suez Canal,” Alphaliner said.

Although the number of all-water services via Panama has fallen to 13 strings from 16 a year ago, the average size of vessels on the route has increased from 4,600 TEUs to 6,400 TEUs.

Source: JOC.

Joey has spent his entire teen and adult life in cars. Joey's father owned a Jeep store, and Joey had his own used car lot that he ran himself from age 22 until I was 30. At 30 years old, Joey got "out of" the car business and joined CFR Rinkens. Joey started when there were only 9 people at CFR, but the company grew to over 150 employees during his time there. When Joey started, CFR Rinkens was shipping about 40 vehicles per week from Los Angeles. Joey established locations in Houston, Miami, and New York and within the first year, CFR went to shipping 150 cars per week. Joey started as a customer service rep and later moved up to sales manager, operations manager, and marketing manager. Joey then moved to Europe for two years and spent the entire time traveling through Europe meeting with clients. In 2022, Joey and his partners purchased CFR Classic from CFR Rinkens and he returned to California to watch over the operation more closely.

This Post Has 0 Comments

Leave a Reply

Our shed plan library represents our commitment to providing shed plans that are well designed and as a result help you to have a good shed building experience. We are the top shed plan site on the internet and we provide an easy way to buy shed plans to get your shed building project off the ground. Dormer Storage Shed PlansBuilding a dormer on your backyard shed is the perfect way to add more light inside and create a truly stunning shed on the outside. Traditionally the dormer roof was invented to add space to an existing attic space for a sleeping or storage area. In our shed plans the dormer roof adds additional storage space and light. Find DIY projects, free woodworking plans, and home improvement tips. Build your next project with our easy to follow plans, Chicken Coop Plans