PortMiami Welcomes 1st Neopanamax from Panama Canal
- Business & Finance
Containership MOL Majesty, the first Miami-bound Neopanamax vessel to transit the expanded Panama Canal, arrived at the US East Coast port PortMiami on July 9.
Owned by Mitsui O.S.K. Lines, Ltd, the 2010-built MOL Majesty measures 302 meters in length and 43.4 meters in beam.
“For the first time, we have these mega vessels transiting our waterway and calling at your port. This groundbreaking development will undoubtedly bring economic prosperity, as well increased opportunities and revenues to both PortMiami and the Panama Canal,” Panama Canal Administrator and CEO Jorge L. Quijano said.
With the new locks now operational, Neopanamax ships have begun transiting the waterway toward US Gulf and East Coast ports, and are expected to call on additional ports which are similarly investing in infrastructure projects to take advantage of the Canal Expansion. Neopanamax ships transiting the Panama Canal have also headed to ports in Asia and the Caribbean, such as Cartagena.
The arrival of the vessel coincides the extension of a 13-year alliance between the Panama Canal and PortMiami as the parties renewed their Memorandum of Understanding (MOU) in an effort to promote trade opportunities following the opening of the new locks.
Since the parties first signed the MOU thirteen years ago, PortMiami has invested in a number of infrastructure improvements to deepen its channel to accommodate Neopanamax vessels, and improve the traffic flow and movement of the cargo it receives.