With the entry into operation of the new locks, the Panama Canal is beginning to regain market lost in recent years to the Suez Canal.

60% of vessels transporting cargo between Asia and the United States now passes through the new locks, up from 40% earlier this year. Until the opening of the expanded canal, this market share of maritime cargo went through the Suez Canal.

A newsletter from Alphaliner reports that “… Despite the increased distances for some China-US east coast port pairs, the Suez route made economic sense, as the scale advantages of larger vessels often outweighed the disadvantages of the longer steaming distance.”

“Now that the old Panama lock 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.”

Source: theloadstar.co.uk