Panama Canal Locks Project Work Resumes

Posted by Michelle Howard
Friday, February 21, 2014
Photo courtesy Panama Canal Authority

The Panama Canal Authority (ACP) said that Grupo Unidos por el Canal. S.A. (GUPC) has resumed work on the new locks project during the afternoon of Thursday, February 20.

“Works have restarted this afternoon,” said Panama Canal Administrator Jorge L. Quijano. “The consortium has guaranteed that it will continue working, which was our main objective so we can move forward and discuss other issues for a longer-term agreement.”

Since works have resumed, ACP will proceed to pay tomorrow GUPC the $36.8 million due for December invoices. 

This preliminary agreement to resume works does not imply a negotiation on the alleged cost overruns claimed by the contractor. ACP reiterates that these claims must be process through the mechanisms within the contract.

The consortium is formed by Sacyr Vallehermoso, S.A (Spain), Impregilo, S.p.A. (Italy), Jan de Nul Group (Belgium) and Constructora Urbana, S.A. (CUSA) (Panama).

The parties will continue to negotiations during the next couple of days to come to an agreement that ensures the successful completion of the project.

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

Contracts

Algoma Central Orders New Great Lakes Ships

Algoma Central Corporation announces $160 million investment in fleet expansion and fleet renewal   Algoma Central Corporation announced that it has acquired

Russia, France Close to Deal on Mistrals

Russia and France are close to reaching an agreement for Paris to cancel a frozen contract on the sale of Mistral helicopter carriers and reimburse Moscow, a Russian

Horizon's Hawaii Business Acquisition Cleared by DOJ

Horizon Lines, Inc. reported yesterday that, after a review by the Antitrust Division of the Department of Justice, Horizon's proposed sales transaction with The

Ports

Kenya Eyes Inland Cargo Logistics Hub to Serve Nearby States

Kenya aims to build a cargo logistics hub near the border with Uganda to receive and clear goods through customs that arrive by air, rail or road, easing pressure

Port of Ngqura’s New Automated Mooring System

The automated mooring system at the Port of Ngqura in South Africa’s east coast is poised to improve port efficiency and safety, cementing the deep water port’s

General Mills Strategically placed in Port Salford

General Mills UK & Ireland – responsible for a range of market-leading brands, including Old El Paso, Green Giant, Betty Crocker and Nature Valley – is to be

Finance

Oil Price Shock Soon to be Positive Overall for Canada

Canada's economy will start to show more positive effects from the drop in oil prices than negatives from the second quarter onwards, Bank of Canada Governor Stephen Poloz said on Friday.

Total Eyes Sale of its Fuel Retailing Business in Turkey

Total aims to exit its fuel distribution business in Turkey and has asked Societe Generale to lead the sale, sources said on Friday, as the French oil producer

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

News

Two Rescued from Sinking Shrimp Boat

Two fishermen were rescued from their sinking shrimp boat by a U.S. Coast Guard aircrew Friday off the coast of Saint Simons Island near Brunswic, Georgia.   Watchstanders

IMO: Making Ferries Safer

The International Maritime Organization (IMO) domestic ferry safety conference in Manila April 24 has adopted guidelines to aid the process of reducing the mounting

Judge Orders Migrant Boat to Remain in Custody

An Italian judge on Friday ordered that the presumed captain of a migrant boat that sank with the loss of more than 700 lives should remain in custody after prosecutors

Government Update

Judge Orders Migrant Boat to Remain in Custody

An Italian judge on Friday ordered that the presumed captain of a migrant boat that sank with the loss of more than 700 lives should remain in custody after prosecutors

Iran Moves Ships, Reducing Tensions Near Yemen

A flotilla of nine Iranian military and cargo ships that U.S. officials feared was carrying arms to strife-torn Yemen sailed northeast in the direction of Iran on Friday,

Rescue Ships Head for Libya, as Migrants Die Also in Balkans

British and German warships made ready to sail for waters off Libya as Europe ramped up rescue operations in the Mediterranean after up to 900 desperate migrants

 
 
Maritime Contracts Maritime Security Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators 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: 0.3080 sec (3 req/sec)