The Panama Canal Expansion and Its Impact on East–West Liner Shipping Route Selection
Thi Yen Pham (),
Ki Young Kim () and
Gi-Tae Yeo ()
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Thi Yen Pham: Graduate School of Logistics, Incheon National University, 119, Academy-Ro, YeonSu-Gu, Incheon 22012, Korea
Ki Young Kim: Graduate School of Logistics, Incheon National University, 119, Academy-Ro, YeonSu-Gu, Incheon 22012, Korea
Gi-Tae Yeo: Graduate School of Logistics, Incheon National University, 119, Academy-Ro, YeonSu-Gu, Incheon 22012, Korea
Sustainability, 2018, vol. 10, issue 12, 1-16
Through an empirical study of ocean-borne trade between Hong Kong and New York, we combined qualitative and quantitative analysis to examine route selection decisions in a post-expansion era of the Panama Canal. A two-stage methodological framework was developed to assess the competitiveness of the three route alternatives, namely the Panama and Suez canals and the US intermodal system. In the first stage, a combination of literature review and expert knowledge was employed to identify the determinants of route selection. In the second stage, fuzzy theory and the multi-criteria decision-making technique were used to evaluate the criteria and the route alternatives. The results indicate that transportation cost is the most important factor in choosing a route, followed by transportation time, reliability, and route characteristics. The “all water route” via the Panama Canal is preferred over the Suez and U.S. intermodal options.
Keywords: route selection; Panama Canal; crucial factor; Fuzzy TOPSIS; maritime transport (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:10:y:2018:i:12:p:4353-:d:184797
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