The extension of the Panama Canal will double the waterway’s capacity and allow the passage of larger vessels, from the so-called Panamax vessels that carry up to 5,000 containers (TEU – Twenty Foot Equivalent) to the New Panamax vessels with a capacity of up to 14,000 TEU.
As one of the largest customers of the Panama Canal, Maersk Line welcomes the expansion of the Canal and the advantages it entails for global trade. In 2016, Maersk Line is expecting to perform more than 400 vessel transits through the Canal whilst carrying more than 400,000 containers.
“As a long-time customer, Maersk Line welcomes the expansion of the Panama Canal. We look forward to seeing our larger vessels pass through the new locks. It is a very positive development for trade, Panama and the region, and of course the shipping lines that transit this important corridor every day,” says Søren Toft, Chief Operating Officer, Maersk Line.
Maersk Line likely to increase use of the Panama Canal
The Panama Canal accounts for roughly 5% of world sea trade and the expanded Panama Canal is estimated to generate a 3% increase in cargo volumes transiting the Canal. Since 60% of the Panama Canal traffic either begins or ends in US ports it will have a direct, notable impact on the trade between Asia and the United States East Coast.
“The expansion provides us with more options, most notably to our Asia to South America and Asia to US East Coast routes. It is likely that Maersk Line will make increased use of the expanded Panama Canal and adjust one or more services with larger vessels to begin sailing through its new locks,” said Anders Boenaes, Head of Network, Maersk Line.
Facts: Maersk Line and the Panama Canal
- Maiden voyage: Anna Maersk, June 1917
- Four percent or approx. 400,000 containers of Maersk Line’s yearly container flow pass through the Canal
- Transits 2016 (estimated): +400 – Canal fee: USD +100 million
- Transits 2015: 313 – Canal fee: USD 80 million
- Transits 2014: 268 – Canal fee: USD 62 million
- Transits 2013: 313 – Canal fee: USD 81 million
Source: Maersk Line