Panama Canal Expansion Boosts Capacity by 2016

Major ports saw immense backups of ships needing to load and unload as a result of labor shortages and other factors instigated by the Coronavirus. Although important ports in the U.S., EU and China are investing in increased capacity, changes and improvements take years to complete. Meanwhile, the world’s supply chains are generally operating in crisis mode due to shortages of everything from truck drivers to dock space for containers.

China’s immense success in becoming a sophisticated manufacturing center for export products initially meant exponential growth in the number of ships coming in and out of Asia. In December 2005, China opened phase one of its new Yangshan Deep Water port near Shanghai. In late 2020, it opened a final phase to become the world’s largest container port, at a cost of $20 billion. The port has the capacity to handle 20 million TEUs yearly. Offering deep water of nearly 50 feet, the new port is located among a small group of islands about 20 miles offshore. One of the longest bridges in the world now connects the port to the mainland for truck traffic.

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Panama Canal Expansion Boosts Capacity by 2016, Business and Industry Trends Analysis

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