Excerpts from Southern California Public Radio:
After a massive nine-year, $5.4 billion expansion, a considerably larger Panama Canal opens Sunday.
But executives at the ports of L.A. and Long Beach, as well as those who study trade, don’t predict this new expansion will hurt Southern California’s port business.
Here are three reasons why:
1. It’s still usually faster and cheaper to go through the west coast
2. The Panama Canal still does not accommodate the biggest mega ships.
3. Even if local ports do lose some market share, they will continue to have strong growth.