How the Panama Canal is Going to Change Your Life
If you’re interested in the latest trends in American consumerism, stop by any K-8 schoolyard and witness the power of commercialization. For the past few years, this most rudimentary market indicator has shown us a series of popular kids toys — Rainbow Looms, Diablos (a.k.a. Chinese YoYos) and now, Kendamas. These toys are being sold by the millions. But America, get ready for BILLIONS of Kendamas.
This is why you need to watch the Panama Canal expansion
Once a wider and deeper Panama Canal opens (coming April 2016) there’s going to be a massive shift in global trade and consumerism. And, it’s quite possibly the biggest thing to happen in your life time.
The much-anticipated $5.25 billion expansion of the Panama Canal — the historic 48-mile waterway that snakes a path between the Pacific and Atlantic oceans through Panama — will soon be three times bigger. And you might be wondering, “Why is that important to me?” Well, keep reading.
With the expansion of the Panama Canal entering it’s final phase, some of the biggest ships in the world are about to slip into America’s ports. Keep in mind that most of today’s ships hold 3,000 to 4,000 containers filled with millions of dollars worth of goods. But by Spring next year, the “New Panamax” ship is going to triple the number to 14,000 containers per ship delivering over a BILLION dollars worth of goods to America’s shores. These mega ships will cut a quicker path to U.S. ports, particularly those along the Gulf Coast and on the Eastern Seaboard. The New Panamax ship is enormous. A technological marvel that is going to change the world. It’s the biggest change in global commerce and logistics in 100 years.
The impact on America’s infrastructure is staggering
Today, an estimated 13,500 ships pass through the Panama Canal — 24/7, 365. Most U.S. harbor size limits where the largest container ships can dock. A port is considered “post-Panamax ready” if it has a channel depth of 50 feet, sufficient width and turning basin, as well as dock/crane compatibility. Currently 40% of all U.S. maritime imports enter at the Port of Los Angeles or Long Beach. Then those goods are transferred by railway, plane or truck across the United States.
But, as soon as the Panama Canal’s expansion is complete, there’s going to be a significant shift in how much and where goods can enter and exit the U.S. There are about 40 major ports in the U.S. but only 12 are equipped to host ships of this magnitude. So, in turn, America’s ports are busy deepening harbors and building bigger terminals. Across the U.S., public ports and their private sector partners will spend more than $46 billion in port-related improvements through 2016.
Baltimore, Charleston, Gulfport, Jacksonville, Mobile, Savannah, Miami, Norfolk, Houston
More than 2,000 miles north of Panama, workers at the Port of New York and New Jersey are busy with colossal projects of their own to attract the bigger ships:
- Elevating bridges 64 feet higher in the air
- Dredging the muck and mud of a harbor to deepen its waters and,
- Laying down new railroad lines
The two projects are seemingly unrelated but actually intertwined: one aims to release massive 1,200-foot-long container ships (the equivalent of four American football fields) the other to receive them. These cities are going to require significant change — and we’re not talking Botox or saline injections, we’re talking an entire face lift, rhinoplasty and breast augmentation.
So, for all you recent grads seeking an internship or any seasoned professional eager for a new lease on life, this is your opportunity. All these cities will need talent. All these cities will need new and improved infrastructure — airports, bridges, drinking water, power grids, wastewater treatment, water recycling, roads, and tunnels — to meet the demands generated by the increased traffic patterns and population. All these cities are gearing up for the Panama Canal expansion to change your life.
Are you ready?
