Suez Canal attracts as many Asia-US east coast boxes as Panama does

3/11/2014 9:41:45 AM

THE Suez Canal route is attracting as much Asia-US east coast bound container traffic as the Panama route does, according to the Transpacific Stabilisation Agreement (TSA).

The TSA, which represents most container lines serving this market, showed that capacity going through the Suez Canal totalled 13,194 FEU last week while the Panama Canal on Asia-US east coast cargo was 14,695 FEU.

The Suez Canal gain in market share over the past year, is well reflected at Maersk Line, which has two strings through Suez, but none on all-water routes via Panama.

In week 28, TSA member lines throughput via Panama came to 21,915 FEU against 24,266 FEU that week in 2012. Meanwhile Suez Canal capacity came to 16,093 FEU against 12,417 FEU in that week in 2012, reported Lloyd's List. But by week 50 in 2013, Panama came in at 16,778 FEU from 21,235 FEU in 2012.