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The expansion of the Panama Canal by way of a new, third set of locks is a reaction to the growth and evolution in the global movement of goods and materials by shipping container. It is predicated on the economies of scale that can be gained through the utilization of larger container ships, thus delivering cost savings to companies and carriers needing to quickly get product to market.
While the implications of the Panama Canal's new set of locks and changing dynamics in the maritime industry are already broad, the eventual impact on the industrial real estate landscape in the United States will be just as significant.
The expansion of the canal has already sparked competition for port market share and the need for capital investment in projects like channel dredging to accommodate larger ships with deeper drafts, but it also has the potential to shift the flow of goods as they are moved throughout the United States - and thus where warehouses and distribution centers may be needed.
The white paper explores the impact of the canal's expansion on industrial real estate demand and development, especially in an environment of rapidly increasing fuel and transportation costs.
Craig Meyer outlines how the new set of locks at the Panama Canal will allow larger container ships to transit, significantly influencing the cargo volumes that will be seen at East Coast ports in the U.S.
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Managing Director, Industrial & Logistics Research
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President, Industrial Brokerage
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