It has been almost 100 years since the Panama Canal was
completed. It is still considered an engineering marvel. Since its creation,
the world of global shipping has changed and the old canal is now too small for
massive cargo ships.
The nation of Panama is investing six billion dollars to
widen and deepen the canal. The new and improved Panama Canal is scheduled to
be in operation by April 2015 and will be able to accommodate ships as long as
four football fields carrying 1,300 containers.
“It’s definitely a
game changer for the industry,” says Chief Operating Officer of the Port of
Seattle.
The expansion will double the waterway’s capacity and
channel more and larger ships to the gulf. It's is expected to double the
container volume to the Port of New Orleans by the year 2028. 66% of the
traffic from the Panama Canal flows to and from the U.S. and 12% of that comes
from the gulf alone.
The Port of New Orleans is well prepared for the increase in
volume. New Orleans already has the 2nd largest container volume in
the gulf. Improvements have been made to the Napoleon Avenue Container Terminal
including; modern facilities, 2 new custom designed cranes, and five additional
acres of marshaling yard where loaded containers are kept. The Napoleon Avenue
Intermodal Railroad Improvement Project is a 20 million dollar modernization which
is set to be completed in 2014. Plans are already in the works to double the
capacity of the Port of New Orleans by 2020.
Terez Harris NOLA Real Estate Group
(504)297-2619
Keller Williams Realty New Orleans 8601 Leake Ave. New
Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers
licensed in the state of Louisiana.
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