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 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
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
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 released a formal proposal to change its pricing structure to move toward a market-oriented business model that allows for greater customer service and continual improvements to the Canal. As global trade continues to expand, the shipping industry has evolved significantly and the Canal's 90-year-old pricing structure needs to be changed to meet the increasing demands of a dynamic market place.
Eighty-eight vessels from Qatar bearing cargoes of liquefied natural gas (LNG) used the Suez Canal in 2006. Of these, 74 were bound for Spain, six to France, five to Belgium and three to other destinations, according to Ahmed El Manakhly, Director of the Planning and Research Department at the Suez Canal Authority. With these vessels having a draft of around 40 feet, the Suez Canal would have more than adequate depth to allow them to pass through
The Panama Canal Authority (ACP) announced that it has reduced by 16.6 percent, the time a vessel spends in Canal waters until it completes its transit through the waterway. The average Canal Waters Time (CWT) for 2001-2002 was 26.2 hours, compared to an average CWT of 31.4 hours for 1999-2000. The difference represents a 5.2-hour average savings to vessels on each trip through the Canal. Moreover, the reduction was more dramatic for shippers using the Canal's "reservation system
Grande Mariner was Stranded on Canal System During 2011 Flooding. The M/V Grande Mariner, a 96-passenger cruise ship that was stranded for more than two months because of flooding in 2011, today returned to the Erie Canal for a new season of cruising America's most storied waterway. The ship, and a sister-ship, M/V Niagara Princes, both owned by Blount Small Ship Adventures in Warren, R.I., was among a handful of ships stranded on the New York State Canal system because of destructive high
The Panama Canal Authority (ACP) today announced 2003 fiscal year metrics, ending in September. These metrics indicate that the ACP's recent operational and capital improvements continue to yield positive results, with the Canal safer and more efficient than it has ever been in its 89-year history. Year-end statistics reveal an increase in tonnage flow through the Canal and a reduction in Canal Waters Time (CWT), the average time it takes a vessel to navigate the Canal including waiting
Nicaraguan lawmakers grant a 50-year concession to a Chinese company to design, build & manage a shipping channel across the Central American nation to compete with the Panama Canal, reports Reuters. The $40 billion proposal by HK Nicaragua Canal Development Investment Co Ltd's (HKND Group)
A concession to build a canal across Nicaragua linking the Pacific Ocean and Caribbean Sea is to go to to a Chinese company. Citing Nicagaguan National Assembly legislative leader Rene Nunez, AP reports that the company will use funds from investors around the world to build the $40 billion
Has the Panama Canal expansion already outgrown itself? How does the success or failure of the administration's export initiative impact your bottom line? Breakbulk is flourishing; what does that mean to your business? These questions and other hot topics will be the focal point of the
The new Damen CSD250 dredger delivered to Nigeria has already started on making its own pond, eventually to become a canal. The CSD250 has started creating a canal, which will flow eventually in the Benin River, and through to the Atlantic Ocean
The Panama Canal Authority will hold its annual "Safe Boarding Week" from 8 to 12 July 2013. During the week it will highlight and encourage safe boarding practices on all vessels arriving in the waterway. Activities will involved inspections of boarding facilities by teams
The Panama Canal Authority (ACP) has implemented the just-in-time service (JIT) that they say will allow vessels to have a more efficient transit. The new service will allow the vessels to arrive at the Panama Canal much closer to their scheduled transit time
Maersk Line, the global containerized division of the A.P. Moller – Maersk Group, added Port Miami to its Transpacific 7 (TP7) Service. The first call for the TP7 Service started today at PortMiami with the arrival of the Maersk Kristina, a 6
IHC Merwede delivered the Alberto Alemán Zubieta to Autoridad del Canal de Panama (ACP) in Panama City. The formalities were handled by ACP’s Contracting Officer, Mrs. Regina Donelson, after a successful trial period of 30 continuous days on the Panama Canal.
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
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:
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
The Suez Canal Authority (SCA) raises toll fees by 5% for oil tankers & petrochemical products, 2% for container ships & car carriers effective 1, May 2013. News of the latest rise in tolls follows last year's SCA increase of a 3% rise for all ships passing through the canal
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
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
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