Cosco Endorses Panama Canal Expansion

Thursday, June 15, 2006
Captain Wei Jiafu, President and CEO of China Ocean Shipping Company (COSCO), recently endorsed the potential Panama Canal expansion, citing that a more modern, Canal will benefit the global economy and world trade. Nearly five percent of total world trade transits the Panama Canal. Of this trade, 88 percent flows between the United States and Asia. In a speech given in Panama last month, Captain Wei stated that with the rapid development of China’s economy, the Panama Canal becomes more important as a vital link for China to import and export goods to and from the East Coast of the United States, the Caribbean and the East Coast of South America. “I fully support this expansion plan. I believe that the expansion of the Canal will enable more ships to utilize the Panama Canal. It will not only strengthen Panama financially by bringing considerable revenues, promote development of Panama’s maritime industry, and ensure Panama’s position as the regional maritime center, but it will also benefit the growth of regional and world trade,” said Captain Wei.
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Haven Marine Bags Back To Back Dockings

Despite a slow start to the year, Haven Marine Services reports it is now seeing a change in fortunes with two dockings for Svitzer in quick succession, with one

Clyde Marine Training Reports Short Course Milestone

Clyde Marine Training informs it has reached a milestone this week, welcoming its 10,000th person to successfully complete one of its marine short courses. Christopher

Viking Neptun Delivered for Technip

Viking Neptun was delivered from Kleven Verft to Eidesvik on February 17, and the naming ceremony was held in Stavanger on February 28. The vessel’s Godmother,

Finance

Royal Caribbean to Sell Splendour of the Seas

Royal Caribbean Cruises Ltd. announced that it has entered into an agreement to sell its cruise ship Splendour of the Seas to TUI Cruises in the second quarter of 2016.

Johan Sverdrup Contract to "Pioneering Spirit"

Statoil has signed a contract with Allseas for installation of three platform topsides on the Johan Sverdrup field.   The vessel will be installing the topsides for the drilling,

Record Thames Ridership

A record 9.8 million passengers are using the River Thames‎, two years on from the launch of the Mayor's River Action Plan, it was announced today. The River Action Plan,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2133 sec (5 req/sec)