Americas > Central America > Panama > Panama Canal rates next year likely to influence future seaborne coal trade

Panama: Panama Canal rates next year likely to influence future seaborne coal trade

2013/04/25

The impact of the Panama Canal expansion on the world coal trade will come into sharper focus next summer at the same time as the canal's governing authority is likely to release rates for the new lane, said a shipping expert Wednesday next a Senate Committee on Commerce, Science and Transportation hearing on the expansion.

Speaking to Platts next giving testimony to the committee, John Vickerman, president of Williamsburg, Virginia-based Vickerman & Associates LLC, said the authority will have to release its rates at least a year formerly the canal opens.

According to the Panama Canal Authority, the new lane is expected to open in June 2015.

Vickerman suggested in the hearing and afterward that that date may be too optimistic, saying the expansion could open as late as early 2016.

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