Thank you.
On that note, let's extrapolate on that specific question on the Panama Canal. The impact we foresee on that is neutral to positive, because what's happening right now is shippers sending goods around the world on different services that are transiting the Panama Canal are doing it in ships that are basically carrying about 4,000 to 4,500 containers as their capacity. When the Panama Canal expansion is completed in 2015-16, that will allow shippers to economize by going to bigger ships. So instead of sailing two 4,000 TEU capacity ships—twenty-foot equivalent unit ships—it can be handled by one 7,500 TEU or 8,000 TEU ship. The fuel, operating costs, and a lot of things are more efficient.
Now, you're operating those ships on a round-the-world service. Let's say you're starting from Asia and coming through the Panama Canal and continuing on the east coast of North America and then on to the Suez Canal on your service. Coming to Halifax on that rotation will allow you to take that big ship and load it to its maximum carrying capacity because of our deep water and our container infrastructure, and of course every single container, every tonne of cargo you put on there makes that particular voyage more cost-effective.
That's how we foresee that the impact of the widening of the Panama Canal will be positively beneficial. It won't hurt us. It won't take anything we have right now, because much of the traffic you're looking to divert is going to be something that's going all water now to west coast ports, and it is being taken on a land bridge, by rail usually, to the eastern half of North America. The opportunity now for shippers will be to bring that on an all-water route and then discharge it directly into east coast North American ports. The sweet spot for us will be that added advantage of talking to shippers and saying “You can maximize the value of that voyage on that round-the-world service by using our deep-water infrastructure to load up that ship to its absolute maximum safe carrying capacity, instead of stopping in New York, where you're constrained by water depth on how much you can load out and what water mark you can load out at.”
Does that answer that question?