Panama Canal Commemorates 14 Years Under Panamanian Administration

marinelink.com
Monday, December 30, 2013
Panama Canal Administrator Jorge L. Quijano

On the countdown to its centennial in 2014, the Panama Canal celebrates 14 years under Panamanian administration, characterized by its enhanced service to world maritime trade.

"The Panama Canal has strengthened its role in international trade, while contributing to the country’s development,” said Panama Canal Administrator Jorge L. Quijano. The Panamanian management model has enabled the efficient and safe operation of the Canal, allowing it to offer a world-class service.


Cutting-Edge Infrastructure
Under Panamanian administration, the Panama Canal Authority (ACP) has improved its service to world maritime trade through the permanent maintenance and modernization of its infrastructure. Approximately, US$2 billion have been invested since 2000. During fiscal year (FY) 2014 (October 1, 2013 to September 30, 2014), the ACP will invest approximately US$238 million in maintenance of structures and equipment to continue providing an efficient service to the international maritime community. The main areas of maintenance include, among others, the navigation channel through dredging operations; the control of erosion and landslides; floating equipment such as tugboat, dredges, cranes and launches; the locks and their components; and the dams, landfills, power plants, buildings and facilities.

Panama Canal Expansion
In 2007, the Panama Canal Expansion Program began as a result of a widespread approval by Panamanians in a national referendum. The Expansion Program will create a new lane of traffic along the Canal by building a new set of locks which will allow the transit of bigger ships with more capacity. This is the greatest modernization project of the waterway since it was opened in 1914. To date, the Expansion Program is 70.7% complete with several components completed such as the dredging of the Atlantic and Pacific entrances, while the construction of the new locks is 64% complete. During the past six years, the Expansion Program has generated 31,000 direct jobs.

Panama Canal Expansion Program Progress (as of November 30, 2013)
 
Project    Progress

  • Excavation of the Pacific locks access channel    80.3%
  • Dredging of the Atlantic side Canal entrance    100%
  • Dredging of the Pacific side Canal entrance    100%
  • Dredging of Gatun Lake and Culebra Cut    84%
  • Design and construction of new locks    64%
  • Raising Gatun Lake's maximum operating level    57%
  • TOTAL    70.7%


Centennial Countdown
The Panama Canal will celebrate its centennial on August 15, 2014. As part of the centennial countdown, the Panama Canal Authority began on August 15, 2013 a calendar of activities to celebrate the milestones that led to its opening, such as the first lockage and the 100 years of dredging Culebra Cut, which removed the last barrier during its construction. During the upcoming months, the Panama Canal will commemorate other important historical milestones linked to the waterway’s operation and its importance to world maritime trade, while highlighting the aspects that have made the Panama Canal an international symbol.

 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

WireCo Acquires Netherlands’ Endenburg

Company will open new crane distribution center WireCo WorldGroup Inc., the world’s leading producer and marketer of specialty steel ropes and high synthetic ropes,

Keppel Q1 Profits Dip Slightly

The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million,

Hapag-Lloyd, CSAV Merger Finalized

Hapag-Lloyd and CSAV binding agreement signed / In return for contributing its container business, CSAV becomes new core shareholder of Hapag-Lloyd / Hapag-Lloyd

Ports

SC Ports Report Record Pier Container Volumes

Georgetown grows 10 percent fiscal year to date Today South Carolina Ports reported March pier container volumes were the highest since August 2008. Last month the Port handled 85,

Quiet March Sees Cargo Slow in Long Beach

Harsh winter elsewhere, ship deployment changes soften traffic Container volumes at the Port of Long Beach dipped in March, compared to the same month one year ago, with a decline of 1.

West Coast is Key for Exporting Bigger Canada Crops

Canada needs to invest in shipping more grains and oilseeds off the West Coast as harvests get larger, to avoid the massive transportation backlogs that followed last year's record crops,

News

Crashes in Crucial US Crude Waterway Hit 10-year Low

Serious crashes in the bustling Bay of Galveston have fallen to the lowest level in a decade even as more oil moves on U.S. waterways, official data show, suggesting

WireCo Acquires Netherlands’ Endenburg

Company will open new crane distribution center WireCo WorldGroup Inc., the world’s leading producer and marketer of specialty steel ropes and high synthetic ropes,

Keppel Q1 Profits Dip Slightly

The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million,

Government Update

Treadwell: Arctic Security Should Be National Priority

Lt. Governor Mead Treadwell delivered the keynote address yesterday at the Arctic Collaborative Workshop in Fairbanks. Treadwell discussed five reasons why

US Sens. Kaine and Reed Visit Newport News Shipbuilding

Huntington Ingalls Industries (HII) hosted U.S. Sens. Tim Kaine (D-Va.) and Jack Reed (D-R.I.) Tuesday for a tour of the company's Newport News Shipbuilding division.

Petrobras, Mitsui Study South Brazil LNG Import Terminal

Brazil's state-run oil company Petroleo Brasileiro SA and Japanese trading house Mitsui Corp will study building a liquefied natural gas (LNG) terminal in the country's southernmost state,

Logistics

SC Ports Report Record Pier Container Volumes

Georgetown grows 10 percent fiscal year to date Today South Carolina Ports reported March pier container volumes were the highest since August 2008. Last month the Port handled 85,

Quiet March Sees Cargo Slow in Long Beach

Harsh winter elsewhere, ship deployment changes soften traffic Container volumes at the Port of Long Beach dipped in March, compared to the same month one year ago, with a decline of 1.

West Coast is Key for Exporting Bigger Canada Crops

Canada needs to invest in shipping more grains and oilseeds off the West Coast as harvests get larger, to avoid the massive transportation backlogs that followed last year's record crops,

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1492 sec (7 req/sec)