Panama Canal Authority Board of Directors’ Chairman Hears Savannah Update

Press Release
Friday, March 22, 2013
GPA Vice Chairman Stephen S. Green (at left) and Executive Director Curtis Foltz welcome Panama’s Minister for Canal Affairs Roberto Roy (center) to the Port of Savannah Friday. Photo: Georgia Ports Authority

In a visit to the Port of Savannah, Panama’s Minister for Canal Affairs Roberto Roy described progress on the canal expansion and heard the latest news on deepening the Savannah Harbor to 47 feet.

“With the historic expansion of the Panama Canal nearing completion, I applaud Georgia for making the improvement of its port infrastructure a fiscal priority,” said Roy, who also serves as Panama Canal Board Chairman.

The Record of Decision, signifying final federal approval for the Savannah Harbor Expansion Project, was issued in October 2012. The Record of Decision also means that federal funding for construction can be allotted in the FY2014 budget.

“This final clearance affirms this project carries national significance; it is a major milestone,” said GPA Executive Director Curtis Foltz. “The next step is for Congress to approve the project budget and fund the deepening.”

Earlier in the week, Roy met with Georgia Governor Nathan Deal, who stressed the importance of both maritime projects.

“The expanded Panama Canal will play a pivotal role in the future of global commerce, instituting a sea change in the efficiency of Trans-Atlantic trade,” said Gov. Deal. “As the busiest terminal on the East Coast for U.S. export tonnage, it is vital for the Port of Savannah to prepare for the larger ships that will soon transit via Panama.”

The Panama Canal expansion will increase the maximum possible draft of vessels traveling to and from the U.S. East Coast via Panama from 39.5 feet to as much as 50 feet in tropical fresh water. Vessel capacity will also increase from the current limit of up to 5,000 twenty-foot equivalent container units (TUEs) to up to approximately 13,000 TEUs. The work is scheduled for completion in 2015.

Georgia Ports Authority Board Chairman Robert Jepson noted that U.S. Army Corps of Engineers studies indicate the port deepening will reduce shipping costs by at least $213 million a year.

“The 5.5-to-1 benefit-to-cost ratio demonstrates that the expenditure would be a wise investment of federal dollars,” Jepson said.

The Georgia Ports Authority renewed its Memorandum of Understanding (MOU) with the Panama Canal Authority in 2011. It was first signed in 2003. This strategic alliance allows both authorities to improve services for customers and generate new economic opportunities for Georgia and the eastern half of the United States. Areas of cooperation include, among others, joint marketing efforts, exchange of data, market studies, expansion plans, training and technology.

www.pancanal.com

www.gaports.com

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

Ports

Canaveral Tops State List for Sand Bypass Funding

The Canaveral Harbor Inlet Sand Bypass Project has earned the top state ranking for 2014/15 inlet management funding. As a result, Port Canaveral is expected to receive $100,

Rotterdam port's throughput almost stable

The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type,

CMA CGM Strengthens Madagascar Presence

Since the creation of CMA CGM Madagascar in 2003, container shipping company CMA CGM Group has continued to develop on the island to move closer to its valued customers

News

Saudi SABIC Q1 Profit Falls 1.8 % On Product Prices

Profit at Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower

Korean Ferry Captain's Detention Could Extend As Death Toll Mounts

South Korean prosecutors investigating a ferry disaster said on Sunday they would seek to extend the detention of the ship's captain and two other crew by 10

First Bodies Recoved From Sunken Ferry

South Korean divers retrieved three bodies from inside a sunken ferry overnight, officials said on Sunday, the first time they have been able to gain entry to the passenger section of the ship.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.2149 sec (5 req/sec)