Increased cargo traffic, improving the availability of water for the passage of ships and construction of the rolling cargo port, are some of the challenges the authorities of the interoceanic route face for the coming years.
Representatives from the Panama Canal Authority reported that the levels of traffic currently being reported have already reached the figures expected to be reached in 2020.
If this rate of growth continues, the third set of locks will be close to reaching its maximum capacity in 2026, however, before thinking about a new expansion, authorities are warning that increased water availability must be ensured.
See “More Traffic Projected in Panama Canal“
Concerning the possibility of an extension, Jorge Luis Quijano, head of the Panama Canal Authority, told Prensa.com that “ … they are not promoting any type of expansion, but he points out that projections indicate that by 2030 capacity of the waterway will need to be increased.“
Another issue that is a priority is that of the port in Corozal, which consists of the development of a 1,200 hectare logistics area near the International Terminal of PSA Panama, former port of Rodman.
See “Roll On- Roll Off Port Plan Revived“
The purpose of the terminal, which will specialize in rolling cargo, is to convert the area where it will be built into a center for redistributing vehicles, machinery and heavy equipment to serve the local market and other countries in Latin America.
In regards to this, Quijano added that “ …‘We need to give value to the cargo we handle. Because we are not producers, we must look for mechanisms to generate new revenues’, giving formality to what will be diversification of business in the Canal.“