The Panama Canal set a mark in its history as it reached a new tonnage record of 333.7 million Panama Canal tons (PC/UMS) during fiscal year 2012 which concluded on September 30. This achievement highlights the value of Panama and its significance as a link in the chain of global trade. "This milestone attests to the reliable and continuous service offered by the Canal, which is supported by a workforce of 10,000 men and women. The Panama Canal works tirelessly to provide its customers with first-rate service, including new products and services in response to their evolving shipping and maritime needs," said Panama Canal Authority Administrator/CEO Jorge Luis Quijano. Preliminary figures showed that the Panama Canal closed fiscal year 2012 with 333.7 million Panama Canal tons (PC/UMS). This figure represents an increase of 11.6 million Panama Canal tons or 3.6% compared to the 322.1 million tons registered last year, and also surpasses the previous 2007 record of 312.9 million tons. (Under PC/UMS, a mathematical formula is applied to the vessel´s total volume or cargo carrying capacity). PC/UMS tonnage during the most recent fiscal years of the Panama Canal: FY PC/UMS (in millions): 2002 235.1 2003 242.7 2004 266.9 2005 279.3 2006 297.8 2007 312.9 2008 309.6 2009 299.1 2010 300.8
The New York State Canal System, once forgotten as a commercial shipping option, is on the rise again, after years of decline. The shorter, greener and smarter route(s) make increasingly good sense for high value cargoes. Commercial utilization of America’s original superhighway – the Erie Canal – is on the rise again in recent years after years of decline. The third generation of the famed Erie Canal – the “Barge Canal” was constructed between 1905 and 1918
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
State-of-the-art facility in Corozal receives green light from canal’s board of directors The Panama Canal board of directors this week formally approved the development and construction of a transshipment port in Panama’s Corozal region. Upon completion, the port will have the capacity to handle more than five million TEUs within a 120-hectare area at the canal’s entrance to the Pacific. The project is now awaiting the final step for approval from Panama’s
The Egyptian government is pressing ahead with the first major expansion of the canal in almost 150 years, to allow ships to pass north and south concurrently, reports Telegraph. The Suez Canal Area Development and the Second Suez Canal Projects are the most important drivers of economic recovery in Egypt and mark a turning point for a country that has been marred by continuing instability. The project – which has been underwritten by Egyptians subscribing to
The Suez Canal Authority is in a race to quickly expand the vital waterway for two-way traffic by August 2015, says an Associate Press report. Workers dig round the clock on Suez Canal expansion, hoping for surge in East-West trade. President Abdel-Fattah el-Sissi has made the project a point of nationalist glory, not to mention a cornerstone of plans to revive the economy. But while shippers say more ships may be drawn by shorter waiting times
The Panama Canal will be run as a competitive business for the benefit of the Panamanian people after it reverts to national control at year's end, the waterway's administrator said. "The Canal was run before on a break-even concept, like a public utility," Panama Canal Commission (PCC) administrator Alberto Aleman Zubieta told a lunch for members of the American Chamber of Commerce. "But it will be run on the corporate concept of profitability ... for the 2
The voting began on Sunday morning, where the enthusiasm and energy was apparent as each voter played their part in this historic event that determined the direction and future of the Canal and Panama. By law, expansion, or the “third set of locks project,” must be put to a vote in a popular referendum. The Panama Canal Authority (ACP) presented its formal proposal to the Panamanian government in April. In the end, 78 percent voted for expansion, as of 9:30 p.m. EDT.
April 2011 marks the 200th anniversary of the key decisions for the construction of the Erie Canal, a monumental public works project that transformed the economy of New York State. Two centuries ago, on April 8, 1811, the state Legislature approved a measure that set into motion the construction of the Erie Canal. This followed the delivery of a report on March 2, 2011 of a report by the original Commission.
Effective from today, the entry of the second southbound convoy into the Suez Canal has been suspended until completion of cleansing and dredging work in the new Canal area. All southbound vessels are able to transit the Canal within the limit time designated for the first southbound convoy. The first southbound convoy commences daily on at 0100 hours local time, with a limit time of arrival 1900 hours on the previous day.
The Alaska Marine Highway System (AMHS) has awarded the Alaska Class Ferry project to Vigor Alaska shipyard in Ketchikan, Alaska, where construction is currently underway. Providing production design for the ferry is Seattle-based naval architecture and marine engineering consultancy Glosten
Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016, Mohab Memish, head of the Suez Canal Authority, said on Wednesday.
Chairman of the Suez Canal Authority (SCA), Vice Admiral Mohab Mamish, signed a settlement agreement with the Suez Canal Container Terminal (SCCT-Maersk), says Daily News Egypt. Egypt is also planing to complete a side channel in East Port Said, near the Suez Canal.
China's Hong Kong Nicaragua Development (HKND) Co. said it is delaying the start of construction on a controversial $50 billion inter-ocean canal across Nicaragua until late 2016. HKND has obtained approval for environmental studies of the canal earlier this month
The Panama Canal Authority (ACP) announced a new tonnage record, welcoming 340.8 million Panama Canal tons (PC/UMS) through the canal for the 2015 fiscal year – a 4.3 percent increase year-on-year. This year's record surpasses the previous record of 333
The European Investment Bank (EIB) has agreed to provide EUR 165 million (187.5m) to support the construction of a new sea lock at IJmuiden, the principal access to the Dutch Port of Amsterdam. The current Noordersluis lock was built in 1929 and the new larger lock will ensure that the next
Harnessing solar propulsion, the 39-foot vessel Solar Sal has recently completed the final leg of its maiden cargo run, carrying recycled cardboard along the Erie Canal without using a single drop of fossil fuel. Solar Sal traversed 72 locks and traveled a total of 650 miles across the state of
Mitsubishi Heavy Industries Shipbuilding Co., Ltd., a group company of Mitsubishi Heavy Industries, Ltd. (MHI), announced it has received an order from Astomos Energy Corporation for a very large liquefied petroleum gas (LPG) carrier.
The world’s first LNG-powered container vessel, TOTE Maritime’s Isla Bella, transited the Panama Canal October 30, marking a milestone not only for the maritime industry, but also for the Canal as it nears the completion of its expansion scheduled to open in 2016
The Maritime Sector of the Egyptian Ministry of Transportation signed a Memorandum of Understanding (MoU) with the Port of Singapore Authority (PSA) as Singapore will operate and develop the Egyptian maritime ports, reports the Cairo Post.
The Panama Canal continues to experience high vessel backlog. This is attributed to several reasons, such as: * INCREASED ARRIVAL OF LARGE AND DEEP DRAFT VESSELS: These larger vessels and those with deeper drafts, besides having more restrictions than small, light draft vesse;s
Gulf Island Marine Fabricators has recently delivered a new drydock named the J.B. Barthelemy to FMT Shipyard and Repair. The new drydock, which is 180 feet long and 73 feet wide with 63-foot clearance between the wingwalls, seven-foot deep pontoon with 18-foot high wing walls, has a 2
The tall ship Tenacious has left her home port in the UK for an epic voyage to Australia. Over the next eight months, she will sail more than 17,000 NM and call at 26 ports en route to her final destination, Sydney. And at every stop along the way
The wait time to pass through the Panama Canal has shortened to four days, down from more than 10 days last month, the authority that runs the waterway said on Thursday. "We have reduced by 60 percent the wait time for vessels after measures applied amid an unusual demand and extreme
Aiming to help accommodate unseasonably high demand, the Panama Canal Authority (ACP) announced it has taken a number of steps to expedite traffic and decrease Canal Waters Time (CWT). The ACP has postponed noncritical maintenance work