Panama Canal Extension Contractors Deny Halting Work
Wednesday, February 05, 2014
New Panama Lock Gate: Photo courtesy of ACP

The Spanish building company, Sacyr, leading the expansion project on the Panama Canal has denied that work at the waterway has been halted despite word to the contrary by the Panama Canal Authority (ACP) reports BBC News.

The Panama Canal Authority and the building companies involved are engaged in a dispute over who should foot $1.6bn (£1bn) in extra costs.

Citing remarks by president of Sacyr, Manuel Manrique, BBC News report that no date had been set for construction work to stop. However, work may eventually stop if the building companies run out of cash, but no such decision had been taken by the consortium.

The consortium is made up of Spain's Sacyr, Impregilo of Italy, Belgian firm Jan De Nul and Constructora Urbana, a Panamanian firm.

Source: BBC News


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

People & Company News

US Shipowner Creates Fund for Families of Missing El Faro Crew

The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family

Coast Guard Foundation Raises $250,000 for Scholarships

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Newport News Shipbuilding Converts to Natural Gas

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C,


Asia-N.Europe Box Rates Plunge 17 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.3 percent to $259 per 20-foot container (TEU) in the week ended on Friday,

Traders Eye Floating Diesel Storage in Atlantic

Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers

Shell Want Shipper Guarantees on Nigerian Crude Exports

Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a "letter of comfort" (LoC) to guarantee it is not stolen, according to an email from the company seen by Reuters.


AWO Calls on Congress for Vessel Discharges Bill

A federal appeals court ruling handed down this week underscores the urgent need for Congress to pass the Vessel Incidental Discharge Act (VIDA) and establish a

House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama,

US Senators Introduce Bill to Limit Offshore Drilling

A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington.


US Must Exercise Freedom of Navigation in Asia-Pacific -Navy Commander

The commander of U.S. forces in the Pacific said on Friday the United States must carry out freedom of navigation patrols throughout the Asia Pacific, but declined

Sea Truck's DP3 Construction Ship Passes Sea Trials

Sea Trucks has completed sea trials of the DP3 offshore construction vessel Jascon 18 in Singapore. Jascon 18 features a 1,800-metric-ton crane, 1,800 sq m deck and a 750-metric-ton pipelay system.

ABP Marine Conference at Port of Ipswich

The Port of Ipswich is hosting Associated British Ports’ (ABP) two-day annual Marine Conference for the first time starting today.   Held at the Old Custom House on the Ipswich waterfront,


Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output

Asia-N.Europe Box Rates Plunge 17 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.3 percent to $259 per 20-foot container (TEU) in the week ended on Friday,

Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Port Authority Ship Electronics 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: 0.4504 sec (2 req/sec)