Panama Canal Presents Expansion Program to Financial Markets

Tuesday, July 24, 2007
Continuing to move forward with expansion plans, Panama Canal executives presented the Canal's Expansion Program to international financial institutions yesterday. Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta provided a snapshot of the Republic of Panama, the Canal's operational achievements and increase in capacity through continuous improvements and modernization work. He also outlined the progress made on expansion, highlighting the excellent financials of a Canal that is debt-free with revenues reaching $1.7 billion in 2007.

More than 100 people representing financial institutions from the United States, Asia, Europe and the Americas participated in the presentation, consisting of investment and commercial banks, multilateral institutions and credit rating agencies. Banks with branches in Panama were also present during the event.

In the coming months, ACP will be conducting meetings with interested banks and will continue to update them about the Expansion Program of the Canal. Expansion will build a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and allow more traffic and longer, wider ships.

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

Finance

Rates Increase Boosts Diana Containerships Q3 Income

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.

EU Backs Nantes St-Nazaire and Vigo Transport Link

The EU's TEN-T Program will back the upgrade of the existing sea line between Nantes St-Nazaire, France and Vigo, Spain with over €3.5 million to ensure reliable

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Winch
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: 0.1337 sec (7 req/sec)