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Maersk Line to dump Panama Canal for Suez

Monday, March 11, 2013

Maersk Line, the world’s biggest container shipping company, will stop plying through the Panama Canal to move goods from Asia to the US east coast as bigger ships help the company move it profitably through Suez Canal.

Maersk Line will send vessels through Suez Canal that can carry as many as 9,000 20-foot boxes at a time, instead of using two 4,500-box-vessels through Panama Canal, Soeren Skou, chief executive officer of Maersk Line, said in Singapore.

The last sailing through Panama will be on April 7 and the first service through Suez will be a week later.

Source: Bloomberg