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
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
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 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
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.
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.
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
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.
General Mills UK & Ireland – responsible for a range of market-leading brands, including Old El Paso, Green Giant, Betty Crocker and Nature Valley – is to be the first tenant at a new state-of-the-art distribution hub that will save 600
Ship container line Hapag-Lloyd has placed an order for five vessels as it looks to bolster trade in Latin America ahead of next year's planned expansion of the Panama Canal, the world's fourth biggest player said on Monday. Workers are installing 22-storey lock gates to accommodate
A report in the USA Today says that the U.S. ports are busy deepening harbors and building bigger terminals to draw the bigger ships. Across the USA, public ports and their private sector partners will spend more than $46 billion in port-related improvements through 2016
The Danish container ship Susan Maersk has collided with the container ship Margret Oldendorff flying the Libyan flag. The 347 meter long, 110387 dwt container ship Susan Maersk and the 300 meter long, 208086 dwt bulk carrier Margret Oldendorff ran aground on the Suez Canal near the
The giant mural on one of the walls of the Deurganck dock lock has been completed. Graffiti artist Cazn took a total of 10 weeks to complete the 300 meter long and 9 metre high mural which starts with a desert landscape then merges into birds in a nature reserve followed by colourful fish
The Port of Mariel, Cuba, aims to become the best choice transshipment in the region from the Panama Canal expansion. According to the Mariel terminal sources, "The port has possibility to connect with everyone from the Panama Canal expansion" and its geographical position
Egypt's Suez Canal Authority has confirmed its massive expansion of the Suez Canal is on schedule and that dredging will be completed in July. According to a state government communiqué, Head of the Suez Canal Authority Mohab Mamish said that the coming period of the New Suez
Members of the Panama Canal Authority (ACP) Board of Directors and Administration returned to Panama after having traveled to Asia for the 24th joint meeting of its Advisory Board. The delegation met in Japan with the group of distinguished advisers to discuss Canal operations and
The World Bank's development arm plans to invest between $1.2 billion and $2 billion in Egypt over the next four years, including around the Suez Canal, its regional director told Reuters. The International Finance Corporation is looking at ports and logistics projects, Mouayed Makhlouf
The CMA CGM Group announced that Farid T. Salem, CMA CGM Group Executive Officer, signed on April 7, in Kingston – Jamaica, an agreement with the Port Authority of Jamaica granting the CMA CGM Group the concession of Kingston Container Terminal for 30 years
The April 12 Panama Canal sailing of Norwegian Star has been canceled due to a technical issue with the ship's ABB-manufactured azipod propulsion system, according to a statement from Norwegian Cruise Line. The Norwegian Star was originally scheduled for a 15 night cruise to
Power management company Eaton has been awarded an additional $5.2-million contract to provide critical installation services for the Panama Canal Expansion Program. Eaton’s contract was awarded by Grupo Unidos por el Canal, SA (GUPC)
Mariners are advised that due to low water levels on Lake St. Louis, the speed limit between buoys A30 to A40 is reduced to 10 knots for all vessels, upbound and downbound. Vessel speeds will be monitored closely. In addition, we are asking mariners to avoid sailing over and SOUTH of the
Warships shelled a column of Houthi fighters and troops loyal to former president Ali Abdullah Saleh as they tried to advance on the southern port city of Aden on Monday, residents said, the first known report of naval forces taking part in the conflict.
Non-booked regular sized vessels wishing to transit the Panama Canal face a wait of approximately 5-6 days. There has been a dramatic increase in the transit backlog as a result of several factors, including heavy arrivals in February/March, averaging 35