Milestone in Panama Canal Expansion Reached

Wednesday, October 12, 2011

Panama Canal Completes Major Step in Expansion Program.


In another important milestone of its Expansion Program, the Panama Canal Authority announced the completion of phase three of the dry excavation project in the construction of the Pacific Access Channel (PAC).  The Pacific Access Channel will connect the third set of locks with the Culebra Cut and Gatun Lake. The third phase of the PAC – costing $36.6 million including design, contractors and management – consisted of excavating 8.2 million cubic meters of materials, cleaning 190 hectares of munitions and explosives of consideration (MECs) and leveling Paraíso Hill from 46 meters to 27.5 meters above sea level.


This dry excavation project was completed within budget, on time and in compliance with strict environmental, safety, hygiene and quality standards. “As we reach another milestone, we at the Panama Canal are proud to acknowledge that this new third lane will be a game changer in world maritime commerce,” said Panama Canal Authority Administrator/ CEO Alberto Alemán Zubieta. Mr. Alemán Zubieta recently visited ports in the East and Gulf Coasts to showcase the Canal´s progress on expansion and future plans.


To date, three of the four dry excavation projects, which will result in a 6.1-kilometer channel, have been completed for Postpanamax vessels to transit once the Canal Expansion is completed. The Canal’s expansion is on schedule, following the recent commencement of the permanent concrete work for the new locks. The $5.25 billion project includes the construction of a new set of locks that will double Canal capacity and allow the transit of longer and wider ships.
 

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

People & Company News

‘Landmark Year’ for RS in 2014

For Russian Maritime Register of Shipping (RS), 2014 marked the 101st year of its activities. The classification society said 2014 also marked a landmark year,

Partnership Targets Waste Conversion Solutions

Terragon Environmental Technologies Inc. has entered into a strategic partnership with Green Marine Capital (GMC) in an effort to enable off grid sustainability

Matiss Backs European Shipping Week

The Presidency of the Council of the European Union has granted official patronage to the forthcoming European Shipping Week (ESW) which will be held in Brussels during March 2‐6, 2015.

Contracts

CORIMA Orders a Damen ASD Tug 2810

CORIMA, part of the Italian Gesmar Group, has ordered a Damen ASD Tug 2810.   The Damen ASD Tug 2810, which has a 60 metric tons bollard pull, will be deployed in the port of Ancona.

Enterprise Contracts to Boost U.S. Crude Exports

Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given

Tighter Supertanker Market Impacts Asian Fuel Supplies

The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs,

Ports

Northeast Winter Storm Disrupts Shipping

Winter Storm Juno, which has brought snow and gale force winds to the North East Coast of the United States, is causing severe disruption to shipping across the entire coastline.

Greek Government to Halt Piraeus Port Sale

The new Greek government led by the left-wing Syriza party will halt the sale of a majority stake in the port of Piraeus, Greece's biggest, begun by the previous government,

Carnival, China Merchants Sign MOU

MOU will explore both Port & Destination Development and Ship-Owning joint ventures with the goal of potentially launching China’s first world-class domestic cruise brand.

Finance

Tanker with Kurdish Crude Leaving U.S. After 6-month Dispute

After being stuck in legal limbo for six months, a tanker loaded with 1 million barrels of Kurdish crude headed east on Tuesday to leave U.S. waters after Baghdad

Hellman & Friedman Sells Out of GTT

Gaztransport & Technigaz S.A. (GTT) announces that H&F Luxembourg 1 S.à.r.l., an affiliate of Hellman & Friedman, has completed the sale of its remaining holding

Greek Government to Halt Piraeus Port Sale

The new Greek government led by the left-wing Syriza party will halt the sale of a majority stake in the port of Piraeus, Greece's biggest, begun by the previous government,

Container Ships

CakeBoxx, Globe Tracker Partner for Asset Tracking

Globe Tracker International, a company in global autonomous asset tracking, monitoring, remote management and data sharing services, and CakeBoxx Technologies,

ZIM Launches Monitoring and Tracking Service

ZIM integrated shipping services has announced the launching of a new monitoring, tracking and security services package, specifically designed for valuable and

Maersk Line to Increase Asia-Europe Rates

Maersk Line, part of Denmark's A. P. Moller-Maersk, plans to increase shipping freight rates for transporting containers from ports in Asia to Northern Europe by

Maritime Security

Blue Sky Network Updates SkyRouter Web Portal

Blue Sky Network (BSN), a global provider of satellite tracking and fleet management solutions for land mobile, maritime and aviation assets, announced upgrades

Tanker with Kurdish Crude Leaving U.S. After 6-month Dispute

After being stuck in legal limbo for six months, a tanker loaded with 1 million barrels of Kurdish crude headed east on Tuesday to leave U.S. waters after Baghdad

Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Sonar 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: 0.1678 sec (6 req/sec)