The Port Authority of New York and New Jersey and GCT USA will welcome the MOL Benefactor – the largest container ship ever to call on the Port of New York and New Jersey at GCT Bayonne – during its maiden visit at noon on Friday, July 8, 2016.
The 10,000 TEU MOL Benefactor will be the first ship visit to an East Coast port after passing through the expanded Panama Canal locks, which opened on June 26.
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The new Panama Canal now allows ships as large as 14,000 TEU to call the Port of New York and New Jersey.
PTI previously reported that the MOL Benefactor recently paid more than US$829,000 to pass through the Panama Canal. This is more than $200,000 more than the previous record.
Concerns have since been raised that the Panama Canal Expansion will cause problems for global carriers as the new locks could undermine rates.
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There is also the case of more vessels being able to compete along the USEC, which could cause rates to be pushed lower.
The size of ships coming to the USEC could also be an issue after it was reported that the larger vessels calling the Port of New York and New Jersey’s terminals could be restricted until the US Army Corps of Engineers completes a study of the Arthur Kill turning basin.
This followed news that the CEO of Seaspan believes that USEC ports have failed to make infrastructure investments and are not prepared for the cargo increase.
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