{"id":242178,"date":"2010-01-28T07:02:00","date_gmt":"2010-01-28T12:02:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/chinese-shun-buffets-rail-road-in-favor-o-2010-1"},"modified":"2010-01-28T07:02:00","modified_gmt":"2010-01-28T12:02:00","slug":"who-needs-to-play-with-buffetts-little-trains-once-you-have-a-bigger-panama-canal","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/242178","title":{"rendered":"Who Needs To Play With Buffett&#8217;s Little Trains Once You Have A Bigger Panama Canal"},"content":{"rendered":"<p><img decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4abd323b819cdc79602873f9-400-\/warrenbuffett-0909-1.jpg\" border=\"0\" alt=\"WarrenBuffett-0909-1\" width=\"400\" \/><\/p>\n<p><div style=\"float: left; padding: 15px 15px 15px 0;\">\n<script type=\"text\/javascript\">\/\/ <![CDATA[\ntweetmeme_source = 'moneygame'; tweetmeme_service = 'bit.ly';\n\/\/ ]]><\/script><br \/>\n<script src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\" type=\"text\/javascript\"><\/script>\n<\/div>\n<p>Panama&#8217;s huge $5.25 billion canal expansion project is set for completion in 2014, but already it&#8217;s making waves in the shipping space.<\/p>\n<p>A deeper, wider canal will allow the largest shipping vessels to pass through Panama, avoiding the use of trains and trucks, and thus potentially slashing 30% from the cost required to get products from Asia to the U.S. East Coast.<\/p>\n<p>That&#8217;s obviously less than stellar news for Warren Buffett&#8217;s investment in west coast rail giant Burlington Northern (BNI).<\/p>\n<p style=\"padding-left: 30px;\"><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&amp;sid=a9pi5NeBMkwk&amp;pos=12\">Bloomberg:<\/a> The $5.25 billion Panama Canal project, scheduled for completion during its centennial in 2014, may take business from ports including Los Angeles and Seattle, and railroads including Berkshire Hathaway Inc.&rsquo;s Burlington Northern Santa Fe Corp. It costs as much as $1,000 more per cargo container to use trains than ships, said Lee Sokje, a shipbuilding analyst at Mirae Asset Securities Co. in Seoul.<\/p>\n<p style=\"padding-left: 30px;\">&ldquo;It is inevitable that railways, such as Burlington Northern, will lose some of their cargo once the Panama Canal is expanded,&rdquo; said Jee Heon Seok, a shipping analyst for NH Investment &amp; Securities Co. in Seoul. &ldquo;Many more containers can be moved in a single voyage on a ship than going through the West Coast ports.&rdquo;<\/p>\n<p style=\"padding-left: 30px;\">&#8230;<\/p>\n<p style=\"padding-left: 30px;\">Burlington Northern customers in Gulf of Mexico ports &#8212; including Houston and Galveston, Texas &#8212; may benefit from more traffic going through a wider canal.<\/p>\n<p style=\"padding-left: 30px;\">Buffett didn&rsquo;t respond to a request for comment. A Burlington Northern spokeswoman, Suann Lundsberg, said trains deliver cargo from the West Coast to the East Coast as many as nine days faster than ships using the canal.<\/p>\n<p style=\"padding-left: 30px;\"><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&amp;sid=a9pi5NeBMkwk&amp;pos=12\">Read more here &gt;<\/a><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/chinese-shun-buffets-rail-road-in-favor-o-2010-1#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/buffet-let-the-public-down-again-2010-1\">Buffett Has Let The Public Down&#8230; Again<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/chinese-stocks-rocked-2010-1\">World Markets Rocked As The Shanghai Vise Tightens Some More<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/buffett-predicts-slow-uncertain-economic-recovery-2010-1\">Buffett: Cash Strapped Consumers Will Make Recovery Slow And Uncertain<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/rtWkHyqA1Hs\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Panama&#8217;s huge $5.25 billion canal expansion project is set for completion in 2014, but already it&#8217;s making waves in the shipping space. A deeper, wider canal will allow the largest shipping vessels to pass through Panama, avoiding the use of trains and trucks, and thus potentially slashing 30% from the cost required to get products [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-242178","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/242178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=242178"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/242178\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=242178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=242178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=242178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}