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Maersk Line ditches Panama Canal for Suez
- Egypt: Wednesday, March 13 - 2013 at 02:41
The world's largest container shipping company, Maersk Line has decided to stop using the Panama Canal to transport goods from Asia to the US East Coast, as bigger ships help the company move them profitably through Egypt's Suez Canal, Bloomberg has reported. The last sailing through Panama will be on April 7 and the first service through Suez will be a week later, said Maersk Line's CEO, Soeren Skou. "The economics are much, much better via the Suez Canal simply because you have half the number of ships," Skou said. "One of the reasons for why this is happening now is that the cost for passing through the Panama Canal has gone up. At the end of the day, it comes down to cost."
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