If You Build it, They Will Come

In 2006, the Panama Canal Authority (ACP) announced a $5.25 billion expansion proposal. It was a period of global economic growth and expanding shipping markets.  Now, just three years later, the project finds itself in a very different environment.  The expansion plans to create a third canal capable of handling post-Panamax container vessels, up to 366 meters in length with a 49 meter beam, and a draft that would allow Capesize bulkers and Suezmax passages.  The shipping shortcut joining the two largest oceans is destined for expansion by 2014; the question now is whether or not customers will be looking to take advantage. Download here