PANAMA CANAL
U.S. Sec of Commerce Visits Panama Canal
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.
Panama Canal Presents Expansion Program to Financial Markets
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
Panama Canal, Port Manatee Strategic Alliance
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.
Panama Canal Authority, Model of D'Artagnan Dredger
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)
ACP to Modify Pricing Structure
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
ACP Commemorates 13 Years of Local Administration
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
Rickmers Announces New Surcharges
Rickmers-Linie, the Hamburg-based global project liner and heavy lift specialist, has announced that it is implementing a Panama Canal Surcharge. It will also be implementing its Bill of Lading Documentation Fee of $55 for all US trades. This change is due to increased documentation requirements. All changes are effective December 1, 2002. The new Panama Canal Surcharge (PCS) has been necessitated by the toll increases imposed by the Panama Canal Authority for vessels passing
Panama Canal Income Slips
Toll income at the Panama canal between October and February slipped 2 percent to $240 million, compared with the same period a year before, the Panama Canal Authority (ACP) said. The ACP, which runs the waterway, said the slightly lower revenue was due to a fall in grain and oil shipments although an increase in container traffic alleviated the 16.9 percent and 10.3 percent reductions, respectively, in grains and oil tonnage
MarAd to Hold Conference on Panama Canal Expansion
MarAd is co-sponsoring a conference in Tampa on January 23-24 on Planning for the Panama Canal Expansion. The agenda can be views at Panama Canal Expansion Workshop
Bank President Visits Panama Canal Locks
President of Inter-American Development Bank (IDB), Luis Alberto Moreno, visits the construction site of the new locks in Colon province. The new locks, situated on the Atlantic side, were visited by Moreno, accompanied by IDB delegates, who are in Panama to participate in the Fifty-Fourth Annual Meeting of the Board of Governors which takes place from March 14 to 17, 2013. During the visit, Panama Canal Administrator Jorge Luis Quijano presented an update on the progress of the Expansion
Ports America Announce New EVP Business Development
Ports America CEO Michael Hassing announced the appointment of John Carver to the position of executive vice president of business development, effective May 1. Carver, domiciled in New Jersey, will report directly to President and CEO Michael Hassing and be responsible for expanding Ports
Panama Canal Nominated for Award
The Panama Canal has been nominated for the 2013 Prince of Asturias Award by the Spanish Ambassador. The Prince of Asturias Award is an annual prize presented by the Prince of Asturias Foundation to promote and reward scientific, technical, cultural
MARAD Deputy Matsuda Resigns
David Matsuda, the U.S. Maritime Administrator, announced that he is stepping down. In a statement released by Marad spokesperson Kim Strong, Matsuda's career highlights and accomplishments were also listed. The statement reads as follows:
Maersk Line CEO Visits Panama Canal Expansion
Panama City, Panama, May 14, 2013 – Maersk Line CEO Søren Skou visited the Panama Expansion construction site accompanied by Panama Canal Administrator Jorge L. Quijano during his recent trip to Panama. Skou and other Maersk Line executives had the opportunity to see the
CMA CGM Invites Passengers Aboard Marco Polo
CMA CGM, announced that passengers cabins are now available on board the massive CMA CGM Marco Polo containership (16 020 TEUs). These original cruises offer travelers the possibility to live a unique experience by discovering oceans, seas and continents to the beat of international trade and
Panama Canal Completes Expansion Program Dredging
The Panama Canal Authority (ACP) has completed the dredging to deepen and widen the navigational channels along Culebra Cut as part of the Expansion Program. This marks another important milestone for the Panama Canal expansion. The dredging works started in March 2008
Panama Canal Receives Ethical Business Practices Recognition
For the third consecutive year, the Panama Canal Authority (ACP) was recognized by the Ethisphere Institute as one of the World's Most Ethical Companies. According to the Ethisphere, this recognition highlights companies that outperform industry peers by embracing ethical business practices and
Maersk Asia/US E.Coast Service to Transit Suez, Not Panama
Maersk Line, will stop using the Panama Canal to transport goods from Asia to the U.S. East Coast as bigger ships make Suez more profitable. Maersk Line will send through Suez Canal a vessel that can carry as many as 9,000 20-foot boxes at a time, instead of using two 4
G6 Alliance Announces Port Rotations
After agreeing to expand the successful G6 Alliance to the transpacific trade earlier this year, the six member lines announced the port rotations of their new comprehensive and competitive service portfolio. The new expanded cooperation will start in May with six coordinated services
Panama Canal Authority Board of Directors’ Chairman Hears Savannah Update
In a visit to the Port of Savannah, Panama’s Minister for Canal Affairs Roberto Roy described progress on the canal expansion and heard the latest news on deepening the Savannah Harbor to 47 feet. “With the historic expansion of the Panama Canal nearing completion
CapEx or Capsize: International Port Analysis
New report examines evolving trade patterns resulting from the upcoming 2015 Panama Canal expansion The Colliers International report, "CapEx or Capsize," underscores the idea that cities need to spend the capital to upgrade their ports, or risk "capsizing" their economies
Total Lubmarine to Supply New Panama Canal Power Plant
International marine lubricant supplier Total Lubmarine secured a contract to supply lubricating oil to the Miraflores power plant in the Panama Canal. This installation is located near the existing locks, a few miles from Panama City. Total Lubmarine’s innovative Talusia Universal
Panama Canal, Vehicle Carriers Discuss Expansion Program
As part of the permanent dialogue with the shipping industry, a Panama Canal Authority (ACP) delegation headed by Administrator Jorge L. Quijano visited South Korea to hold discussions with the vehicle carrier market segment and obtain feedback on the future toll structure being developed by the
Maersk Move to Suez Route Temporary Says Spokesman
The modification of two Maersk shipping routes to pass through the Suez Canal rather than Panama is temporary, says a Maersk spokesman. The diversion from the Panama Canal to an alternate route has contributed to a decline in revenue for the canal administration, The Maersk Line
CII to Host Important Panama Canal Houston Event
The Containerization & Intermodal Institute (CII) organized seminar focuses on the Panama Canal, the update on U. S. export initiatives and breakbulk shipping. Michael Masserman, Executive Director for Export Policy, Promotion & Strategy, International Trade Administration