Following the US East Coast’s intention to steal traffic away from the US West Coast once the Panama Canal Expansion is completed on June 30, 2016, Gerry Wang, CEO of Seaspan has said that the East Coast has failed to make infrastructure investments and are not prepared to handle the increase in cargo volumes, according to Reuters.
Gerry Wang, CEO at Seaspan Corp, said: “The infrastructure just not there, 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.
“It creates a lot of uncertainty for the carriers as to when the project will be finished. That’s something the industry’s not happy about, to be honest, because it causes a lot of headaches for planning.”
PTI previously reported Ports America recently ended its 50 year association with the Port of Oakland in a bid to focus expansion and investment plans on a number of USWC ports, including Long Beach and Los Angeles.
US Ports have been scrambling to ramp up infrastructure, with some spending billions to ensure that they are prepared for the boom in traffic that is anticipated from the completed expansion project.