Thursday, February 20, 2014

Panama Canal improvement will boost world shipping trade



Nearly 100 years after a model of the Panama Canal was unveiled at the Panama-Pacific World Fair in San Francisco, the 48 mile, man made waterway connecting the Atlantic and Pacific Oceans stands both as a hub and gateway for world transport and trade.
The Caribbean region is the most important for world trade. The increase in Cargo volumes that is expected after the expansion of the Panama Canal, represents a real possibility for capturing a greater part of the market.
The dynamics of world trade are expected to change significantly once a project to increase the width and depth of the Panama Canal is completed in 2015.
The expansion project has been carried out to meet a sustained increase in international trade and a rise in demand for movements through the canal.
The number of shipping containers aboard freighters using the canal has risen from 200,000 in 1995 to 6.6 million in 2011.

International trade is expected to continue to grow substantially during the next two decades, at rates higher than the growth rate of the main world economies.  

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