Panama Canal Reiterates Expansion Commitment

MarineLink.com
Monday, January 06, 2014
Jorge Quijano

The Panama Canal Authority (ACP) reaffirmed its commitment to the international maritime community and its customers to successfully complete the Expansion Program, thereby fulfilling its objective of offering a new era of opportunities to world maritime commerce.

In the Advisory to Shipping (No. A-02-2014), the Panama Canal Administrator Jorge L. Quijano stated that, “We would like to reassure our customers that the contract was well drafted and includes guarantees that will allow the completion of the new locks, even if the ACP needs to step in to assume control of the project and deliver it in the shortest possible time.”

“Our customers are our number one priority and we will seek to resolve this conflict in the best possible manner within the legal framework of the contract to ensure that the construction continues and that the Expansion Program is completed,” added ACP Administrator in the Advisory to Shipping.

ACP reiterated that the Panama Canal continues to function normally and the situation with a contractor relates to one of the projects in the Expansion Program and has no impact on current Canal operations.

Overall, the Expansion Program is 72% complete and at this time, is expected to be open to commercial transits in the second half of 2015. 

In response to GUPC recent letter, the ACP stated that the arguments raised by the contractor in the note lack legal basis, are not clear and do not give any reasons for the contractor to suspend the work.

The ACP reiterated that the only channels to process claims are clearly established in the contract. A third party decides two of the three methods established in the contract for the resolution of claims. These contractual clauses were accepted by GUPCSA upon signature of the contract.

The ACP trusts that the contractor is able to comply with the terms agreed upon under contract. If needed, the new locks project is at an advanced enough stage that the construction may be completed with the mechanisms and guarantees included in the contract.

pancanal.com
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Cargill: 50,000T of Sugar Affected by Brazil Fire

Approximately 50,000 tonnes of sugar were stored in a warehouse affected by fire in the Teag terminal in Brazil on Monday, Cargill Inc said in a statement. The terminal,

GAO: Ending Crude Export Ban Could Ease 'Price at the Pump'

As the energy profile of the U.S. continues to improve and evolve daily, fresh debate in favor of exporting oil and gas products -- which would have a significant impact on the U.

'New Tango' Brings More Post-Panamax Ships to Charleston

New service expands Port of Charleston's capacity to serve North-South trade The SC Ports Authority today received the first ship call of a new consolidated

News

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Missouri River Basin is Booming

The U.S. Army Corps of Engineers Missouri River Basin Water Management Division is maintaining above normal releases at the four lower dams on the Missouri River.

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
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: 0.2942 sec (3 req/sec)