Louisiana’s little gain
NEW ORLEANS. Louisiana will gain only a fraction of the new shipping container traffic expected to result from the widening of the Pana...
NEW ORLEANS. Louisiana will gain only a fraction of the new shipping container traffic expected to result from the widening of the Panama Canal in 2014, said Louisiana Economic Development secretary Stephen Moret.
“It turns out the primary beneficiary of the Panama Canal is not going to be the Gulf Coast,” Moret said. “It’s going to be the East Coast.” Moret estimated that the Gulf Coast will see no more than 15 percent of new container traffic.
About 50 percent of new traffic will go directly to the East Coast, and 35 percent will route through the Caribbean, Moret said. That demand could be enough to justify plans for new infrastructure at the Port of New Orleans. The port has proposed a $500 million expansion of its Napoleon Avenue Container Terminal facilities to handle the expected increase in cargo.