ACP Reaffirms Commitment to Panama Canal Expansion

MarineLink.com
Thursday, January 02, 2014
Jorge L. Quijano

The Panama Canal Authority (ACP) reaffirms its commitment to successfully complete the Expansion Program to fulfill its objective of offering a new era to world maritime trade.

“For the Panama Canal it is of utmost importance that the Expansion Program is completed to better serve the international maritime community and its customers,” said Panama Canal Administration Jorge L. Quijano.

ACP categorically rejects the pressures by contractor Grupo Unidos del Canal, S.A. (GUPCSA) in recent statements, which sole purpose are to force the ACP to negotiate outside the terms established in the contract for the new locks alleging over costs and demanding to be provided additional funds from those agreed in the contract.

GUPCSA, formed by the companies Sacyr Vallehermoso, S.A (Spain), Impregilo, S.p.A. (Italy), Jan de Nul Group (Belgium) and Constructora Urbana S.A. (CUSA) (Panama), is the international consortium in charge of the new locks project, one of the components of the Panama Canal Expansion.

To date, the contractor has not followed the claims and conflict resolution mechanisms established in the contract to support the claims.

“No matter what type of pressure is exercised against the ACP, we maintain our request that GUPCSA respects the contract that they accepted and signed,” said Quijano

The ACP reiterated that the only channels to process claims are clearly established in the contract. A third party decides two of the three methods established in the contract for the resolution of claims. These contractual clauses were accepted by GUPCSA upon signature of the contract.

The ACP also trusts that the contractor is able to comply with the terms agreed upon under contract. The contract includes guarantees that will allow completing the new locks. With 65% completion, the new locks project is at a stage that the construction may be completed with the mechanisms included in the contract, if needed.

Overall, the Expansion Program is 72% complete. GUPCSA has previously indicate that instead of completing construction on October 2014, as originally established in the contract, the new locks will be finished June 2015.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Odfjell Reports Best Quarter Since 2008

In what it is calling its best quarterly performance since third quarter 2008, the Odfjell Group for the second quarter of 2015 reported net results of $7 million.

Great Lakes Shipyard to Build Guatemalan Harbor Tug

U.S. shipbuilding and repair yard Great Lakes Shipyard informs it has signed a contract to build another of its HandySize Class, 3,400 HP twin-screw tugboat for

BAE Systems Welcomes Record Number of Paid Interns

More than 140 university students from across the country are being given a unique insight into working life at BAE Systems, as part of the company’s 12-week summer internship program.

Contracts

Great Lakes Shipyard to Build Guatemalan Harbor Tug

U.S. shipbuilding and repair yard Great Lakes Shipyard informs it has signed a contract to build another of its HandySize Class, 3,400 HP twin-screw tugboat for

Builder KHI Contracts ALMACO for Drillships Work

ALMACO Group informs it has been awarded the design, material supply and supervision contract from Kawasaki Heavy Industries, Ltd. (KHI) in Japan for the first

Shell Charters Regalia in 2016

Prosafe announced it has signed a contract worth approximately $24 million with Shell U.K. Limited for the provision of the Regalia semi-submersible accommodation

News

Oil Soars in Biggest One-day Rally in Years

Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies

Odfjell Reports Best Quarter Since 2008

In what it is calling its best quarterly performance since third quarter 2008, the Odfjell Group for the second quarter of 2015 reported net results of $7 million.

Fisherman Hit by Parted Line Lifted to Safety

A fisherman struck and injured by a parted line was medevaced south of San Juan Island and transported to Olympic Medical Center in Port Angeles, Wash. Thursday morning.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Repair 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: 0.7552 sec (1 req/sec)