A US$7bn investment is to be made on developing transport infrastructure and renewing assets for the Great Lakes-St. Lawrence shipping system, a key system for supporting more than 100 ports in the US and Canada.
As reported by the Daily Commercial News, Stephen Brooks, President of the Chamber of Marine Commerce, said “these private and public investments are a tremendous show of confidence in the future of the Great Lakes Seaway, a transportation gateway facilitating $35 billion in trade and supporting 227,000 jobs in the US and Canada.”
The Panama Canal is also a significant route for facilitating trade to the US, and as a result of the recent labour dispute at various US West Coast ports, its container volumes have risen by around 7%.
The on-going Panama Canal Expansion Project is expected to be completed in early 2016.
