Jamaica stands to benefit from the ripple effects of increased trade in the Caribbean region, Fritz Pinnock, executive director of the Caribbean Maritime Institute said.

Speaking at the Freight Handlers Limited-sponsored Lunch and Learn seminar last Wednesday, Pinnock said that the predictions of the opening of free trade between Cuba and the Unites States (US) could open opportunities for Jamaica based on its close proximity to Cuba. Additionally, Pinnock said the expansion of the Panama Canal and the expected increased traffic along the Asia/US East Coast should provide additional opportunities.

"Almost all Asia and US East Coast traffic are expected to be upgraded from vessels of 4,000-5,000 TEU, to vessels of 8,000-9,000 TEU capacities. Ports located next to the Panama Canal have the advantage of minimising deviation, as the canal is the intersection point for many shipping routes," Pinnock said.

Infrastructure restrictions

He added that the Panama Canal studies predict that the 8,000-9,000 TEU vessels to use the waterway will not be able to reach US East Coast ports due to the infrastructure restrictions of the latter. "Jamaica must be ready to capitalise on this opportunity," Pinnock stressed.

Pinnock further pointed out that the changing global traffic patterns in the East to West trade routes pose a threat to the sustainability of a trans-shipment port. This, he said, is based on the fact that for every nine containers that come from the East, four remain empty while the others return with cargo.

Jamaica's prime location at the crossroads of trade can take advantage of this by developing fully into an integrated multi-modal hub to match the dynamics of trade. "Simply put, the logistics hub will create economic activities that will result in the re-exportation of cargo, which will incorporate air transport for time-sensitive and high-value goods," Pinnock said.

Working together

He noted that air and sea must work side by side to fully capitalise on the opportunities. Businesses operating in the shipping industry, he pointed out, should look for the gaps in the supply chain and take advantage of the opportunities. Value-added services, he noted, is the way forward.

Denise Lyn Fatt of Freight Handlers Limited (FHL), the sponsors of Wednesday's Lunch and Learn seminar, highlighted that the company has in excess of 20 years experience in the shipping industry. They provide services via both air and sea which include full container load/full trailer load and consolidated full container load shipments. FHL handles project cargo, households and returning residents' shipments as well as shipments for new and used Cars.

Lunch and Learn seminars are hosted monthly by the Shipping Association of Jamaica to educate members of the shipping industry on maritime-related matters.