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.
During a repair stop on the Atlantic, the “Bremen Express” (8,750 TEU) experienced rolling for reasons yet to be determined. As a result, some containers fell overboard. The ship, which operates in the CEC service and was located roughly 1
Today, Moody's credit rating agency announced that it has assigned an A2 rating to the Panama Canal Authority (ACP) for its business model, unique geographic advantage, and historically strong operational and financial performance. Moody's expects this performance to continue into the
Hydrex Underwater Technology has assisted an excavation vessel hemorrhaging oil from a stern tube seal entangled with steel wire to pass safely through the Panama Canal. The 156m long, Dutch-owned vessel was unable to make the canal transit until the propeller shaft seal had been repaired
Japan's JERA Co said on Friday it imported the country's first liquefied shale gas cargo from the United States as part of efforts to diversify its supply. This also marks Japan's first import of liquefied natural gas (LNG) produced in the contiguous United States
The members of THE Alliance announced the details of the plan for their product starting from April 2017. THE Alliance plans to deploy a fleet of more than 240 modern ships in the Asia /Europe, North Atlantic and Trans-Pacific trade lanes including the Middle East and the Arabian Gulf/Red Sea
Together with Macquarie Infrastructure Partners III (MIP III),* NYK Ports, NYK’s subsidiary company, has made the decision to invest in Maher Terminals (Maher), which operates a terminal in the U.S. port of New York and New Jersey. On November 16, 2016
As its Annual Meeting and Board of Directors Meeting in Cincinnati on November 15, 2016, Waterways Council, Inc. (WCI) named Tim Parker, President of Parker Towing, as its Chairman of the Board. Parker succeeds Merritt Lane, President and Chief Executive Officer, Canal Barge Company.
NYK subsidiary NYK Ports, together with Macquarie Infrastructure Partners III (MIP III), has invested in Maher Terminals, which operates a terminal in the U.S. port of New York and New Jersey. On November 16, 2016, NYK Ports acquired a 20 percent share of Maher.
Four new Super Post Panamax ship-to-shore cranes arrived at Garden City Terminal yesterday, bringing the Port of Savannah's total to 26, more than any other terminal in the U.S. "For customers, it means the capacity to move up to a thousand containers per hour across a single dock at
Japan's JERA Co, the world's biggest importer of liquefied natural gas (LNG), on Thursday said it made its first-ever purchase of LNG from the lower 48 U.S. states, as part of its goal to diversify supplies. JERA, a fuel joint venture between Tokyo Electric Power and Chubu Electric Power
Inland Rivers, Ports & Terminals (IRPT) has signed a Memorandum of Understanding with the Panama Canal Authority (ACP). This historic event marks the first ever global connection for IRPT. This Memorandum of Understanding is important to all of our inland river ports, terminals
Less than six months after the inauguration of the Expanded Panama Canal, the waterway welcomed its 500th transit of a Neopanamax ship on Wednesday, highlighting the trust that Canal customers have placed in the route. Performing the 500th transit was the container vessel YM Unity
In order to improve its services and provide better solutions to market needs, ZIM is announcing a restructuring of its main services on major trades. The new, enhanced structure provides first-class services in the select trades the company is pursuing.
The City of Amsterdam Fire Department has taken delivery of its new firefighting vessel: the Jan van der Heyde IV. C-Job Naval Architects provided the concept design for the 17.6-meter vessel. Damen Shipyards Hardinxveld executed detailed design, engineering and vessel construction.
The Panama Canal welcomed the largest capacity vessel to-date to transit the Expanded Locks—Hapag-Lloyd's Valparaiso Express, a 10,589 TEU Neopanamax containership built specifically to take advantage of the greater capacity offered by the Expanded Panama Canal.