redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin play-btn line-arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard

U.S. MarketFlash

CBRE INDUSTRIAL & LOGISTICS

The Panama Canal Expansion: One Year Later


More than 1,600 neo-Panamax1 ships have passed through the expanded Panama Canal since its opening on June 26, 2016. The majority (82%) have been container or liquefied natural and petroleum gas vessels. The number of neo-Panamax ships calling on Eastern ports is expected to increase now that the clearing height of the Bayonne Bridge in New York has been raised. This was a critical milestone because economies of scale for shipping companies are maximized as larger vessels have access to the East Coast’s largest port. Thus, larger ports that can accommodate neo-Panamax ships and their adjacent industrial markets stand to gain market share as shipping companies transition to larger vessels. 

1Neo-Panamax ships have nearly triple the cargo capacity and can carry more than double the weight of the maximum-size ships that could transit the Panama Canal before its expansion..



CBRE Industrial & Logistics in Your Inbox


Receive CBRE Industrial research reports, market updates and more. 


INDUSTRIAL & LOGISTICS

Powering the Real Estate that Powers Business
Powering the Real Estate that Powers Business