Panama Canal CEO Touts Achievements, Expansion

Capitalizing on the momentum of the Expansion Program’s ground breaking nearly three weeks ago, Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta traveled to Seoul, Hong Kong, and London, three of the most important financial and maritime centers. Mr. Alemán spoke with different financial institutions, clients and influencers, emphasizing the Canal's operational achievements and capacity growth through continuous improvements and modernization. In addition, he outlined progress made on the Canal expansion and highlighted the excellent financials of a debt-free Canal with $1.7b in revenues in 2007. Expansion will build a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and allow more traffic and longer, wider ships.