Over the past decade, charter rates for traditional Panamax container ships, which range from 4,000 to 5,300 TEU, have risen tenfold, beating sceptics’ claims that the Panama Canal’s expansion spelt the death knell for these vessels.
When the new Panama Canal locks opened in 2016, the future of Panamax ships, widely used on Canal-routed East-West services, suddenly looked bleak, reported Alphaliner.
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