Dig, Dig, Dig Señora

While infrastructure projects, especially canals, bear a certain element of inherent skepticism, their impact on global trade flows should not be taken lightly. Although the Panama Canal’s expansion will likely have a more muted effect on the tanker market than other shipping sectors, cost overruns and work stoppage has evoked a ho-hum prognosis for the project in general. While endeavoring not to pile on to initial project hype, the recent announcements about the construction of a second Caribbean to Pacific canal, in Nicaragua, should prick some ears. Download here