U. S. Secretary of Commerce Carlos Gutiérrez visited the Panama Canal today as part of an official Panama tour. Panama Canal Authority Administrator/CEO Alberto Alemán Zubieta met Secretary Gutiérrez and the U.S. delegation at the Miraflores Locks, where he explained how the waterway works and provided details on the progress of the Canal's expansion. Expansion will build a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and allow more traffic and longer, wider ships.
The Panama Canal has increased its tugboat fleet with the arrival of the first two of 14 tugboats that will improve the waterway’s resources to offer a safer and more efficient service to the global shipping industry. These tugboats will strengthen the Canal’s capacity for the operation of the Third Set of Locks. “These new tugboats will allow the Panama Canal to continue offering a world-class service,” Panama Canal Administrator Jorge L. Quiijano said
As part of the preparations for the expanded Panama Canal, the Board of Inspectors of the Panama Canal Authority (ACP) has certified 12 new tugboat captains after successfully completing training. This is the fourth group of the program which started in 2008 and has certified 47 tugboat captains. This represents 50% of the goal set to meet the demand for the efficient and safe transit of vessels through the new locks of the Panama Canal.
The Panama Canal Authority (ACP) will charter a Post-Panamax vessel before the opening of the expanded Canal to be used for training purposes in the Third Set of Locks. The Executive Vice President of Operations Esteban Saenz reported that the Panama Canal will charter a Post-Panamax ship to train pilots and tugboat captains that will assist in transits through the new lane. Saenz said the vessel will be used several months before the opening of the expanded Canal to test the new locks
To help spur growth and capitalize on the Panama Canal’s expansion, the Panama Canal Authority (ACP) and Port Manatee embarked on their first-ever strategic alliance. In an official ceremony held in Panama City, Panama, ACP Administrator/CEO Alberto Alemán Zubieta and Port Manatee Executive Director David L. McDonald signed a Memorandum of Understanding (MOU) to boost joint marketing, and encourage the exchange of information and business insight.
The Panama Canal is celebrating 13 years under Panamanian administration. During this period, the Canal has strengthened its role in international commerce as a result of investment in the modernization of its infrastructure, its expansion and an alliance with its natural surroundings. “The Panama Canal reaffirms its relevance in international commerce more than ever as a result of the decisions and actions that Panamanians have taken with regard to its management
Panama Canal proposes tolls adjustments and creates new market segments to reflect real value of the route and better serve its customers.New market segments by vessel type are created and consultation period with interested parties begins. The Panama Canal Authority (ACP) Board of Directors approved a proposal to modify the Panama Canal pricing structure to align Canal toll charges with the value the route provides. New Segments
Continuing to move forward with expansion plans, Panama Canal executives presented the Canal's Expansion Program to international financial institutions yesterday. Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta provided a snapshot of the Republic of Panama, the Canal's operational achievements and increase in capacity through continuous improvements and modernization work. He also outlined the progress made on expansion
Singapore-based port operator PSA Panama International Terminal (PSA Panama) has started a USD 400 million expansion of its container terminal located on the west bank of the Panama Canal Pacific. It has started on the expansion after being granted approval by the National Assembly, the Panama Canal Authority ACP, the Panama Maritime Authority and the Panamanian State. The expansion is targeted to be ready for operations before the end of 2016
Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta, joined by DEME Group CEO Alain Bernard, recently unveiled a model of the D'Artagnan dredger during a ceremony at the Panama Canal's Miraflores Visitors' Center. The D'Artagnan is the most powerful self-propelled heavy duty cutter suction dredger in the world, with its special design for cutting rocks and sand dredging. Owned by Belgian company Dredging International (part of the DEME group)
DP World is expanding its container terminal at Port of Caucedo following the expansion of the Panama Canal to accommodate larger container ships, reports ASC. DP World will increase the capacity of the port to 2.5-million TEU and started work to increase the depth of the quay wall
TMS Cardiff Gas Ltd. has signed a contract with Hyundai Heavy Industries of Korea for the construction of two 78,700 cbm LPG carriers with the option to build another two. The vessels are scheduled for delivery in Q2 and Q3 2017, when they will enter into time charter contracts with Shell
The Panama Canal continues to experience an increase in transit backlog due to recent locks maintenance work, coupled with high arrivals during the last week of September. In response to this situation, scheduled non-critical maintenance work was postponed and additional crews have been
The consortium in charge of the expansion of the Panama Canal, led by Sacyr reported that the fissures presented in the third set of locks will not delay the opening date scheduled for April 2016. The Grupo Unidos por el Canal (GUPC)
The seepage found in the Panama Canal’s third set of locks is said to be the result of an inadequate amount of steel reinforcement, the Panama Canal Authority (ACP) announced today. ACP said it was informed by the contractor responsible for the design and construction of the
Nicaragua's planned $50 billion canal project is "fraught with risks and uncertainties," and could cause more harm than good unless the government and its Chinese builder fund a host of mitigation measures, an environmental consultancy said.
Members of the G6 Alliance today announced the Winter Program for Asia – North America services in response to traditional seasonal changes in market demand. The following are the temporary service suspensions: Asia – North America East Coast Service
The Panama Canal cruise ship season 2015-2016 will officially begin on October 3 with the transit of Costa Luminosa, on a voyage from Italy around the world. “Approximately 220 cruise ships are expected to transit through the Panama Canal during this season that spans from October 2015 to
PortMiami Deep Dredge gives businesses the infrastructure necessary for growth The completion of the PortMiami deep dredge project, which deepens the port’s main harbor channel from 42 feet to a depth of 52 feet to accommodate Post-Panamax ships
Though cracks were detected in the concrete walls of one of the locks of the newly expanded Panama Canal last month, the Panama Canal Authority (ACP) is maintaining an April 2016 start date for the revamped inter-oceanic waterway, reports Fox News.
The low demand on the high volume trade lanes is surely increasing the pressure on earnings which is already felt in the container shipping industry. This was one of the views that, BIMCO’s Chief Shipping Analyst, Peter Sand shared with the participants at the Maritime Cyprus
Is the lack of demand for containerships a manageable challenge? The low demand on the high volume trade lanes is increasing the pressure on earnings which is already felt in the container shipping industry, says shipping association BIMCO.
The Panama Canal Authority (ACP) awaits formal GUPC report on water seepage issue; program 93 percent complete The filling of the Panama Canal’s new locks began in June, marking the start of a planned and methodical phase of operational testing of the Locks, including its culvert valves
In the second quarter, CMA CGM demonstrated the strength of its business model by significantly outperforming the market, despite a sharp fall in freight rates and industry overcapacity: * Volumes carried during the second quarter increased by 6.2% year-on-year, to 3
The Panama Canal Authority (ACP) has lifted scheduled vessel draft restrictions brought on by lingering draught conditions in the region. The ACP had previously set restrictions of 11.89 meters Tropical Fresh Water (TFW) to take effect September 8 due to the effects of an El