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Panama Canal Sets New Tonnage Record

Panama Canal Authority Administrator/CEO Jorge Luis Quijano.

The Panama Canal set a mark in its history as it reached a new tonnage record of 333.7 million Panama Canal tons (PC/UMS) during fiscal year 2012 which concluded on September 30.  This achievement highlights the value of Panama and its significance as a link in the chain of global trade.   "This milestone attests to the reliable and continuous service offered by the Canal, which is supported by a workforce of 10,000 men and women. The Panama Canal works tirelessly to provide its customers with first-rate service, including new products and services in response to their evolving shipping and maritime needs," said Panama Canal Authority Administrator/CEO Jorge Luis Quijano.   Preliminary figures showed that the Panama Canal closed fiscal year 2012 with 333.7 million Panama Canal tons (PC/UMS).  This figure represents an increase of 11.6 million Panama Canal tons or 3.6% compared to the 322.1 million tons registered last year, and also surpasses the previous 2007 record of 312.9 million tons.  (Under PC/UMS, a mathematical formula is applied to the vessel´s total volume or cargo carrying capacity).   PC/UMS tonnage during the most recent fiscal years of the Panama Canal:     FY PC/UMS (in millions):   2002 235.1 2003 242.7 2004 266.9 2005 279.3 2006 297.8 2007 312.9 2008 309.6 2009 299.1 2010 300.8


America’s First Marine Highway Comes Back to Life

pg40 image.jpg

The New York State Canal System, once forgotten as a commercial shipping option, is on the rise again, after years of decline. The shorter, greener and smarter route(s) make increasingly good sense for high value cargoes. Commercial utilization of America’s original superhighway – the Erie Canal – is on the rise again in recent years after years of decline. The third generation of the famed Erie Canal – the “Barge Canal” was constructed between 1905 and 1918


ACP Charters Post-Panamax Ship for Pilot Training

The Panama Canal Authority (ACP) will charter a Post-Panamax vessel before the opening of the expanded Canal to be used for training purposes in the Third Set of Locks. The Executive Vice President of Operations Esteban Saenz reported that the Panama Canal will charter a Post-Panamax ship to train pilots and tugboat captains that will assist in transits through the new lane. Saenz said the vessel will be used several months before the opening of the expanded Canal to test the new locks


Panama Canal Board Approves New Port Plans

Photo: Panama Canal Authority

State-of-the-art facility in Corozal receives green light from canal’s board of directors   The Panama Canal board of directors this week formally approved the development and construction of a transshipment port in Panama’s Corozal region. Upon completion, the port will have the capacity to handle more than five million TEUs within a 120-hectare area at the canal’s entrance to the Pacific. The project is now awaiting the final step for approval from Panama’s


Egypt Bullish on New Suez Canal expansion

Pic by Suez Canal Authority

 The Egyptian government is pressing ahead with the first major expansion of the canal in almost 150 years, to allow ships to pass north and south concurrently, reports Telegraph.   The Suez Canal Area Development and the Second Suez Canal Projects are the most important drivers of economic recovery in Egypt and mark a turning point for a country that has been marred by continuing instability.   The project – which has been underwritten by Egyptians subscribing to


Egypt on a War Footing to Expand Suez Canal

Image by Suez Canal Authority

 The Suez Canal Authority is in a race to quickly expand the vital waterway for two-way traffic by August 2015, says an Associate Press report. Workers dig round the clock on Suez Canal expansion, hoping for surge in East-West trade.   President Abdel-Fattah el-Sissi has made the project a point of nationalist glory, not to mention a cornerstone of plans to revive the economy.    But while shippers say more ships may be drawn by shorter waiting times


Panama Canal To Be Run As Business After Handover

The Panama Canal will be run as a competitive business for the benefit of the Panamanian people after it reverts to national control at year's end, the waterway's administrator said. "The Canal was run before on a break-even concept, like a public utility," Panama Canal Commission (PCC) administrator Alberto Aleman Zubieta told a lunch for members of the American Chamber of Commerce. "But it will be run on the corporate concept of profitability ... for the 2


Panamanians Vote Yes for Canal Expansion

The voting began on Sunday morning, where the enthusiasm and energy was apparent as each voter played their part in this historic event that determined the direction and future of the Canal and Panama. By law, expansion, or the “third set of locks project,” must be put to a vote in a popular referendum. The Panama Canal Authority (ACP) presented its formal proposal to the Panamanian government in April. In the end, 78 percent voted for expansion, as of 9:30 p.m. EDT.


200 Years of Erie Canal History

April 2011 marks the 200th anniversary of the key decisions for the construction of the Erie Canal, a monumental public works project that transformed the economy of New York State.   Two centuries ago, on April 8, 1811, the state Legislature approved a measure that set into motion the construction of the Erie Canal. This followed the delivery of a report on March 2, 2011 of a report by the original Commission.  


Temporary Suspension of 2nd Southbound Convoy

  Effective from today, the entry of the second southbound convoy into the Suez Canal has been suspended until completion of cleansing and dredging work in the new Canal area. All southbound vessels are able to transit the Canal within the limit time designated for the first southbound convoy. The first southbound convoy commences daily on at 0100 hours local time, with a limit time of arrival 1900 hours on the previous day.


Panama Canal Hearing Addresses Toll Structure Changes

Photo: The Panama Canal Authority

The Panama Canal Authority (ACP) today held a public hearing on its tolls structure modifications proposal.   “The modified tolls will safeguard the Canal's competitiveness, charge a fair price for the value of the route and provide a competitive service to the global shipping industry


Monjasa Reports Panama Canal Supply Growth

Physical bunker supplier Monjasa has been active in the Panama Canal since 2011 and established a physical presence for operations and bunker trading in Panama City in 2015. Now one year after the official inauguration of the new locks of the expanded Panama Canal


Egypt Bans Qatari Ships Docking in Suez Canal

 Photo: Suez Canal Authority

 The Suez Canal Authority is committed to a ban on allowing Qatari ships to dock in ports within the Suez Canal’s economic zone, Ahram reported as chairman Mohab Mamish saying.   In press statements on Friday, Mamish said that Egyptian ban on the ships is being imposed on all


ABS Approves New MOSS-type LNG Tank Concept

ABS informs it has granted Approval in Principle (AIP) for a new MOSS-type liquefied natural gas (LNG) tank design concept developed by Japan’s Kawasaki Heavy Industries (KHI).    Designated as an IMO Type B independent tank


Biggest Ship to Ever Visit US East Coast

 Wide, deep channels and big-ship infrastructure will earn South Carolina Ports Authority the desired position as last port of call when the biggest ship ever to call the US East Coast, the COSCO Development, arrives in May.   "SCPA has worked aggressively for years to ensure we


Disney Wonder First Passenger Vessel To Transit New Panama Canal

Disney Wonder Becomes First Passenger Vessel To Transit New Panama Canal Locks (Disney Cruise Line Handout Image)

The Disney Wonder transited the Panama Canal on Saturday as the first passenger vessel to go through the canal's new set of locks, marking a milestone for the cruise industry.    The Disney Cruise Line 2,713-passenger ship was transformed in late 2016


Cutter Suction Dredger Delivered to Heuvelman Ibis

Damen Cutter Suction Dredger 350 (Photo: CSD)

A Damen Cutter Suction Dredger (CSD) 350 has been delivered from Damen Dredging Equipment in Nijkerk, the Netherlands, to start work on a canal dredging assignment in the province of Groningen, in the north of the country. In order to execute the project


Santos Express Delivered to Hapag-Lloyd

Santos Express (Photo: Hapag-Lloyd)

Hapag-Lloyd’s newest containership Santos Express was recently delivered from Hyundai Samho Heavy Industries (HSHI) in South Korea.   The 10,500 TEU capacity, 333 meter long ship is the final of five vessels in the Valparaíso Express class.  


Largest Ship To-date Transits Expanded Panama Canal

The COSCO Development transiting the Panama Canals Cocoli Locks, making it the largest vessel to transit the Expanded Canal. (Photo: Panama Canal Authority)

The 13,092 TEU Neopanamax containership COSCO Development, which measures 366 meters in length and 48.2 meters in beam, today became the largest vessel both in dimension and capacity to transit the Expanded Panama Canal since it was inaugurated in June 2016.  


Royal Caribbean Will Return to New Orleans

Vision of the Seas (Photo: Royal Caribbean International)

Royal Caribbean International announced it will return to New Orleans with a seasonal home-based cruise ship in late 2018. The 915-foot Vision of the Seas will sail seven-night itineraries to destinations across the Bahamas and Yucatan Peninsula from the Port of New Orleans’ Julia Street


Keppel on Track to Deliver Rig for Caspian Drilling

Photo credit: Keppel Offshore & Marine

Keppel Offshore & Marine Ltd (Keppel O&M) through its subsidiary in Azerbaijan, Caspian Shipyard Company (CSC), is on track to deliver a semisubmersible drilling rig to Caspian Drilling Company Ltd, a subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR).


Panama Canal to Modify Tolls Structure

Pic: Panama Canal Authority (ACP)

 Panama Canal Authority (ACP) has published a proposal for modifications to its current tolls structure, signaling the beginning of a 30-day formal consultation period for industry feedback, allowing the waterway to continue providing a competitive service to its customers.  


BMT Secures New Orleans Passenger Ferry Contract

Photo courtesy of BMT

BMT Group subsidiary BMT Nigel Gee has secured a new contract with sister company BMT Designers & Planners and Louisiana based shipyard Metal Shark for two 32m high speed/low wake wash, 149-passenger aluminum catamaran ferries for the New Orleans Regional Transit Authority (RTA). 


Cargo Shipping Market to Grow at 3.45% to 2023

Photo: Maersk Group

 Global Cargo Shipping Market is expected to grow around 3.45% CAGR during the period 2017 to 2023, says a report by Market Research Future.   In recent years, Global Cargo Shipping Market has advanced rather productively. While, increasing number of countries forging of free trade


Expanded Panama Canal Celebrates First Anniversary

Photo: Panama Canal Authority

 The Panama Canal commemorated the one-year anniversary of the inauguration of its Expanded Canal, one of the most significant milestones in the history of the 102-year old waterway and a defining moment for the people of Panama and the global maritime industry.  






 
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