You are here

Caribbean urged to take advantage of Panama Canal expansion

Monday, June 9, 2014

Caribbean countries are being urged to position themselves to take advantage of greater trading opportunities that may derive when the Panama Canal Expansion project is completed and commissioned by the first quarter of 2016. When it is completed, the Panama Canal will be able to facilitate the crossing of larger ships between the Pacific and Atlantic Oceans and as a result there would be need to set up at least two transshipment points in the Caribbean.


Rodolfo Sabonge, expert external adviser for the US-based management consulting firm, McKensey & Company, said there is already competition among Caribbean islands as to where that transshipment point should be. “It would be where there are other services and cluster activity, maybe in the maritime sector that would be able to contribute an added value to the shipping lines,” Sabonge said.


He is encouraging competing Caribbean countries to do a very in-depth risk analysis to avoid the pitfalls of making investments where there will be no real opportunities.


User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.

Guardian Media Limited accepts no liability and will not be held accountable for user comments.

Guardian Media Limited reserves the right to remove, to edit or to censor any comments.

Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.

Before posting, please refer to the Community Standards, Terms and conditions and Privacy Policy

User profiles registered through fake social media accounts may be deleted without notice.