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While everyone was talking about Brexit, another very important change happened that impacts shippers. On Sunday, the Panama Canal opened a $5.4 billion expansion that will allow ships to virtually triple the number of containers they carry through this passage from 5,000 to 14,000.
While this is a great step forward, there are still more infrastructure investments that the country of Panama needs to make. I had the opportunity to be on site in May and talk with some of the canal officials. One of the things they mentioned, for example, is the need to build another port on the Pacific side and probably another one on the Atlantic side also to accommodate their volume.
Watch this week’s video to learn more about what’s happening with the Panama Canal or read a selection of articles that will bring you up to speed on this event and what it could mean for your supply chains in the future.
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