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
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 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 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.
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
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 mega container ships raising concerns among vessel operators, insurers and regulators about the potential for catastrophic accidents. Shipping lines have sought to stay competitive by running larger, more fuel-efficient container ships in major shipping lanes
Revenues from the Suez Canal stood at $434.8 million in January, the state news agency said on Saturday, down from $445.5 million in December. The fastest shipping route between Europe and Asia is one of Egypt's main sources of foreign currency.
The crews of the Coast Guard Cutters Capstan, Cleat and Chock are working this winter to break ice and maintain navigable waterways from the Delaware River, through the Chesapeake and Delaware Canal, down to Tangier Island, Virginia.
Shipping corridors used by Gulf energy exporters are not at risk from violence and political volatility in Yemen and the seizure of swathes of territory in the region by Islamic State militants, a senior U.S. naval officer said on Monday.
BHM Penlaw and Tactique Ltd have now joined forces to support their clients in exploiting an alternative sea route which reduces sailing distance by 4,300 nm and 10 days on transits between Europe and Asia. The Northern Sea Route, also known as the NSR, or Northeast Passage
As part of promoting water transport in the country, the Indian government has set an ambitious target to convert 101 rivers across the nation into waterways. The Minister for Road Transport, Highways and Shipping Nitin Gadkari said that promoting waterways is the top-most priority of the
The first gate will be installed in lock head one facing Gatun Lake; canal expansion program 85 percent complete The first gate for the Panama Canal’s new locks in the Pacific side was installed earlier today after being carried to its final destination on self-propelled motorized wheel
Widening the Panama Canal will cost more than budgeted due to billions of dollars in overruns by the consortium carrying out the work says a report from AFP. The canal's administrator Grupo Unidos por el Canal (GUPC), which is overseeing upgrades to the canal's locks
Delays can be expected in the Kiel Canal following a collision this yesterday, 23 January, with the small north lock gate at Brunsbuettel. Only the big north lock chamber and the small south lock chamber at Brunsbuettel are currently available for transits.
German navigation system manufacturer Raytheon Anschütz has established its new subsidiary Raytheon Anschuetz Panama, S. de R.L., in Panama City. The new company, to open on February 1, 2015, will be positioned as the regional customer support and service coordination center
In 2015, the Port of Houston Authority has budgeted $275 million for various capital improvement projects. About $184 million is being allocated to its container terminals for continuing development of Bayport and modernization at Barbours Cut
Port Manatee and its stakeholders look to benefit from full federal funding of a feasibility study related to deepening of its channel and harbor area, the port said. Manatee Harbor, near the Gulf of Mexico entrance to Tampa Bay, is one of only 10 waterways in the continental United States
The Suez Canal Authority said on Wednesday transit tolls would remain steady in 2015, except for a reduction in the discount for liquefied natural gas (LNG) carriers. Authority chairman Mohab Mahmish told a news conference that the discount for LNG carriers had been set at 25 percent
In Nicaragua, a Chinese company is busy building what will become one of the world’s largest transoceanic canals. One of the largest engineering projects in history - They call it the Grand Inter-Oceanic Canal. Engineers say it will surpass the nearby Panama Canal in size and capacity
Whereas the slow pace of recovery of the global economy fails to ease the pain in the global shipping industry significantly, the “no increase of Suez Canal tolls” announcement by the Suez Canal Authorities is a welcome easing.