Multilateral Institutions Visit Panama Canal Expansion

MarineLink.com
Friday, February 07, 2014

Representatives from the multilateral institutions financing the Panama Canal Expansion Program visited today the new locks project construction in the Pacific side as part of their regularly scheduled visits.

Experts from the Inter-American Development Bank (IDB), the European Investment Bank (EIB), Japan Bank for International Cooperation (JBIC), International Financing Corporation (IFC) and the Andean Development Corporation (CAF) participated in meetings for two days and visited the Expansion Program construction site.

ACP executives made a comprehensive presentation of the current status of the project, including details of the work stoppage by Grupo Unidos por el Canal, S.A. (GUPC), the new locks project contractor.

On December 2008, ACP signed agreements with five multilateral institutions to procure financing of up to $2.3 billion (USD) required for the Expansion Program.

In total, agreements were signed for $800 million with the JBIC, $500 million with the EIB, $400 million with the IDB, $300 million with the IFC and $300 million with the CAF.

pancanal.com
 


Finance

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

China COSCO Falls to H1 Net Loss

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday.

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

News

NOAA Engineers a Better Current Sensor for Mariners

Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents.

Matson Orders Two ConRo Ships from NASSCO

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two

Iran Vessels Make 'High Speed Intercept' of US Ship

Four of Iran's Islamic Revolutionary Guard Corps (IRGC) vessels "harassed" a U.S. warship on Tuesday near the Strait of Hormuz, a U.S. defense official said, amid

People in the News

Why Maritime Museums Matter

With today’s focus on digital technology, mobile apps, enhanced reality and the overall digital landscape, the maritime industry often gets overshadowed, leaving some to ask,

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Wärtsilä Re-gasification system for Norwegian Ship Conversion

Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel.

Government Update

Iran Vessels Make 'High Speed Intercept' of US Ship

Four of Iran's Islamic Revolutionary Guard Corps (IRGC) vessels "harassed" a U.S. warship on Tuesday near the Strait of Hormuz, a U.S. defense official said, amid

El Faro Captain Ordered Crew to Abandon Ship before Sinking

The captain of the doomed El Faro cargo ship sounded an alarm for his crew to abandon the vessel shortly before it sank last fall in a hurricane near the Bahamas, killing all 33 onboard, the U.

China COSCO Falls to H1 Net Loss

China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday.

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.1147 sec (9 req/sec)