Panama Canal Infrastructure to be Valued by VRC

By George Backwell
Wednesday, September 03, 2014
Panama Canal: File photo

Leading provider of independent valuations, Valuation Research Corporation (VRC) says it has been engaged by the Panama Canal Authority to value the locks, dams, power plants and other structures of the canal for insurance purposes.

This is VRC’s second valuation engagement with the authority. In 2004, VRC was engaged to provide a comprehensive valuation in connection with financing the Canal’s expansion.

“We are very pleased to once again work with the Panama Canal Authority,” said Richard Nordberg, Managing Director. “Our past valuation of the underlying assets and canal business enterprise has put us in a good position to provide a current value for the physical assets of the canal.”

In its 100th year, the Panama Canal is still considered one of the largest and most difficult engineering projects ever undertaken. The Canal extends approximately 50 miles, through the Isthmus of Panama, from the twin ports of Cristobal-Colón on the Atlantic Ocean side to the port of Balboa (near Panama City) on the Pacific Ocean side. It is a globally significant landmark that benefits from the exponential increase in global trade.

In its last engagement for the Panama Canal Authority, VRC provided valuations of the operating assets, including the power generation and transmission lines, the water utility system, the lock system and the railroad assets, to help the Authority obtain financing for its expansion.

“This engagement is an important undertaking for our firm and we appreciate the opportunity to assist the Canal Authority in the valuation of an asset that is a tremendous engineering achievement and provides a significant economic contribution to the region,” said Nordberg.

VRC furnishes expert and independent opinions of value for solvency, fairness, business enterprises, intangible assets, capital stock, equity interests, real estate, and fixed assets.

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

People & Company News

Rotterdam to Build New Indonesian Port

The Port of Rotterdam Authority has signed a partnership agreement with the Indonesian Port Corporation Pelindo I for the development of a new deep sea port at Kuala Tanjung near to Medan in Sumatra,

Alaska Marine Lines Reduces Fuel Surcharge

Alaska Marine Lines, a marine transportation company providing barge service to and from Alaska and Hawaii, informs it has filed with the U.S. Surface Transportation

SSI to Showcase Marine Information Model

SSI's CAD/CAM ShipConstructor software utilizes a Marine Information Model (MIM) to store a wealth of data that can be leveraged for maintenance, repair and lifecycle support.

Contracts

Rotterdam to Build New Indonesian Port

The Port of Rotterdam Authority has signed a partnership agreement with the Indonesian Port Corporation Pelindo I for the development of a new deep sea port at Kuala Tanjung near to Medan in Sumatra,

Ferguson to Build Two CalMac Ferries

Scottish minister Nicola Sturgeon have named Ferguson shipyard as the preferred bidder for a £97 million contract for the biggest new ferries on the Clyde since

ME Production Receives Two Scrubber Orders

ME Production subsidiary Marine Exhaust Technology has been awarded a new contract for the DFDS vessel Finlandia sailing on the route Rosyth-Zeebrugge. The scrubber contract includes design,

Ports

China Merchants Profit up 29pct

While China’s ports continue to face growth pressure, the country’s largest port operator is reaping the rewards of years of investments in overseas projects.   China

Rotterdam to Build New Indonesian Port

The Port of Rotterdam Authority has signed a partnership agreement with the Indonesian Port Corporation Pelindo I for the development of a new deep sea port at Kuala Tanjung near to Medan in Sumatra,

Swire Upgrades Asia-Pac Coverage

Singapore-based liner trade division of The China Navigation Company (CNC) Swire Shipping has upgraded its multipurpose liner service coverage in the Asia Pacific region.

Finance

China Merchants Profit up 29pct

While China’s ports continue to face growth pressure, the country’s largest port operator is reaping the rewards of years of investments in overseas projects.   China

Baltimore Port Shipments Hit New Record

Helen Delich Bentley Port of Baltimore's public terminals shipped a record 9.74 million tons of general cargo in the 2015 fiscal year ending June 30, it said Monday.

Alaska Marine Lines Reduces Fuel Surcharge

Alaska Marine Lines, a marine transportation company providing barge service to and from Alaska and Hawaii, informs it has filed with the U.S. Surface Transportation

Insurance

Syncrude Uncertain about Plant Fire Affecting Production

The operator of Canada's largest synthetic crude project said on Saturday it is investigating the causes of an early morning fire at an upgrading plant. Firefighters extinguished the blaze,

MN 100: Gencorp Insurance Group

The Company: Gencorp Insurance Group provides the Insurance and Surety needs of Marine Contractors, Vessel Operators and Shipyards throughout the country and Caribbean.

Mariners Dread Port Calls

Seafarer social media site Crewtoo, part of KVH Industries, Inc., has published the results of its second Crewtoo Seafarers Happiness Index report detailing job satisfaction at sea.

 
 
Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.4480 sec (2 req/sec)