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Friday, March 22 2019 @ 08:08 PM UTC

Panama Canal capacity expected to rise 42 percent in two decades

Canal Expansion Cargo traffic through the Panama Canal will rise 42 percent in the next 20 years, the Panama Canal Authority (PCA) forecast in a report published on Monday. The PCA said it planned to raise the capacity to 520 million tons from 280 million tons to satisfy this demand, while warning that without such an increase canal traffic might reduce by 23 percent due to competitions from transpacific shipments, the U.S. intermodal system and Egypt's Suez Canal. According to the PCA, intermodal traffic would rise 65 percent while Suez traffic would surge 12 percent if the capacity increase of the Panama Canal is shelved. On Oct. 22, Panamanians are to vote in a referendum on the canal's capacity increase. The PCA, which took control of the canal on Dec. 12, 1999, estimates that the world fleet of Postpanamax boats -- those too big to pass the canal -- will reach 670 by 2011, representing a total of 4.6 million tons, or 37 percent of the world's container capacity. Source: Xinhua
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