It seemed like the day might never arrive, but after multiple delays and several billion dollars in budget overrun, the expanded Panama Canal will finally open this weekend.
On Sunday, a Chinese container vessel will navigate its way through the expanded locks, in what shippers around the world hope will be the first of many successful passages by today’s larger commercial ships. It’s been a long time coming for shipping lines especially, many of whom have invested heavily in the 14,000 TEU capacity vessels that the expanded waterway is designed for.
However, even this delayed arrival has come too soon for some. Most notably for ourselves – and everyone else bringing in cargo via the East Coast – the expansion has caught the Port Authority of NY/NJ on its heels. Continue reading Panama Canal Expansion Puts a Squeeze on New Jersey’s Infrastructure