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Impact of Panama Canal Expansion on Soybean Farmers Illinois Farm Bureau Panama Tour

Impact of Panama Canal Expansion on Soybean Farmers Illinois Farm Bureau Panama Tour. Panama Canal: A critical link in the ag logistics chain. Panama Canal: A critical link in the ag logistics chain. Completed in 1914 48 miles in length Over 14,000 (40 per day) ships handled annually

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Impact of Panama Canal Expansion on Soybean Farmers Illinois Farm Bureau Panama Tour

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  1. Impact of Panama Canal Expansion on Soybean FarmersIllinois Farm Bureau Panama Tour

  2. Panama Canal: A critical link in the ag logistics chain

  3. Panama Canal: A critical link in the ag logistics chain • Completed in 1914 • 48 miles in length • Over 14,000 (40 per day) ships handled annually • 39.75 million metric tons (1.5 billion bushels) of U.S. grain transported through the Panama Canal in 2010 • 42% of U.S. grain exports transit the Panama Canal • 540 million bushels of soybeans shipped through the canal in 2010 – #1 commodity • Source: Panama Canal Authority

  4. Panama Canal & Soybeans

  5. Size of Cargo Vessels (smallest to largest): • Handysize: numerically the most common size of bulk vessel; 15,000-35,000 metric tons deadweight • Handymax: 35,000-60,000 metric tons deadweight; 492-656 feet in length • Seawaymax: the largest size which can transit the canal locks of the St. Lawrence Seaway; 740 feet long by 78 feet wide • Panamax: the largest size which can transit the locks of the Panama Canal; 65,000-80,000 metric tons deadweight; 965 feet long by 106 feet wide by 190 feet high; 2 million bushel capacity • Suezmax: the largest size which can transit the Suez Canal; since the Suez Canal does not have locks, the main factor limiting size is draft – currently 53 ft.; 150,000 metric tons deadweight • Capesize: larger than Panamax and Suezmax vessels; must transit around the Cape of Good Hope and Cape Horn in order to travel between oceans; above 150,000 metric tons deadweight

  6. Panama Canal Expansion • Scheduled completion: 2014; Cost: $5.2 billion • Larger ocean vessels: 1,200 ft. long (vs. 965 ft.), 160 ft. wide (vs. 106 ft.), 50 ft. draft (vs. 39.5 ft.), 12,600 TEUs (vs. 4,400 TEUs)

  7. Panama Canal Expansion Can U.S. Ports handle the larger ships? • U.S. port working depths at Mean Low Water (MLW): East CoastU.S. Gulf Boston: 40 ft. Houston: 45 ft. New York/New Jersey: 45 ft. New Orleans: 45 ft. Norfolk: 50 ft. Charleston: 45 ft. West Coast Savannah: 42 ft. Los Angeles/Long Beach: 50 ft. Miami: 42 ft. Seattle/Tacoma: 50 ft. Source: AAPA 2009 Directory Can our customers handle the larger ships?

  8. Panama Canal Expansion • Once the canal is expanded, will the increased throughput benefit containerized shipping or bulk shipping? • 5.6% increase in containers; 1% in bulk (Panama Canal Authority) • Gulf ports will see a 12-13% increase in cargo shipments (Port of New Orleans) • Which port region of the U.S. – West Coast, East Coast, Gulf – will likely be able to achieve the most balance between imports and exports?

  9. Thank you Soy Transportation Coalition 1255 SW Prairie Trail Parkway Ankeny, Iowa 50023 515-727-0665 515-251-8657 (fax) www.soytransportation.org Mike Steenhoek, Executive Director msteenhoek@soytransportation.org

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