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Ripple Effect of Expansion

The expanded Panama Canal will allow for vessels with three times the cargo capacity, increasing the volume of cargo moving through the canal and the speed of delivery times.

“We look forward positively that insurance rates are going to be either maintained or even lowered for cargo owners that are transiting through the Panama Canal with these large vessels.” Stavros Costarangos, Padeca Seguros

The expansion of the Panama Canal will allow for much greater volume and will speed the delivery of cargo from North America’s West Coast to East Coast, as well as from Asia directly to the East Coast ports of the United States. But the expansion may cause additional changes in the marine market. The expansion of the Panama Canal may spur shipowners to realign operations, including the rotation of vessels, and reconfigure trade routes.

Copyright © 2011 by A.M. Best Company, Inc. All rights reserved. No part of this report may be reproduced, stored in a retrieval system or transmitted in any form or by any means; electronic, mechanical, photocopying, recording or otherwise.

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