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U.S. East Coast Ports Not Ready for Panama Canal Expansion: Seaspan CEO

Posted on April 4, 2016

By Nick Carey, Reuters

U.S. East Coast ports looking to use the Panama Canal expansion to lure traffic from congested West Coast ports have failed to invest in infrastructure and are years away from being ready for extra business, the head of the world’s largest lessor of container ships said on Tuesday.

“The infrastructure’s just not there,” Seaspan Corp Chief Executive Gerry Wang told Reuters in a telephone interview. “At the end of the day… you want the volume to come, you want big ships to come, but you just don’t have the infrastructure to handle them.” Seaspan owns large container ships it leases on long-term contracts to the world’s biggest shipping companies.


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