Panama Canal Authority, Antwerp Partnership
On September 7, Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta and Antwerp Port Authority Chief Operations Officer Christiaan De Block signed an important Memorandum of Understanding (MOU) to jointly help foster commercial activity between the two authorities. The first of its kind between the ACP and a European port, the MOU will increase cooperation, such as joint marketing and coordination on modernization and expansion projects, and help boost trade between the Port of Antwerp and the West Coast of South America via the Panama Canal. Additionally, the Port of Antwerp is equipped with a post-Panamax locks system…
Panama Canal Sets Daily Tonnage Record
In February 2017, the Panama Canal set a new daily tonnage record of 1.18 million Panama Canal tons (PC/UMS) after welcoming a total of 1,180 vessels through both the expanded and original locks, the Panama Canal Authority reported. The previous record was established the month prior in January 2017 when the canal recorded a daily tonnage average of 1.16 PC/UMS. February is the third-consecutive record-breaking month for the Panama Canal. In December 2016 and January 2017, the waterway set monthly tonnage records after transiting 35.4 million PC/UMS and 36.1 million PC/UMS, respectfully.
Panama Canal Authority Reduces Time
The Panama Canal Authority (ACP) announced that it has reduced by 16.6 percent, the time a vessel spends in Canal waters until it completes its transit through the waterway. The average Canal Waters Time (CWT) for 2001-2002 was 26.2 hours, compared to an average CWT of 31.4 hours for 1999-2000. The difference represents a 5.2-hour average savings to vessels on each trip through the Canal. Moreover, the reduction was more dramatic for shippers using the Canal's "reservation system," where ships are able to reserve an exact date to transit the Canal, resulting in precise scheduling. Ships that employed the reservation system took only 18.6 hours to transit the Canal.
Panama Canal Authority to Invest Heavily in Maintenance
The Panama Canal Authority (ACP) will invest in its fiscal year (FY) 2014 (October 1, 2013 to September 30, 2014) approximately US$238-million in maintenance of structures and equipment to continue providing an efficient service to the international maritime community. “The key to the Panama Canal’s operational excellence is a combination of its committed workforce and constant maintenance,” Executive Vice President for Operations Esteban Saenz said. About to reach its centennial, the Canal guarantees its efficiency through the permanent maintenance and modernization of its infrastructure.
Panama Canal Authority to Increase Tolls
The Cabinet Council of Panama voted to approve a two-phase increase in Panama Canal tolls. The first phase, an average increase of approximately 8 percent, will be implemented on October 1, 2002; the second phase, consisting of an average increase of 4.5 percent, will take effect in July 2003. The Cabinet Council characterized the new pricing structure, which was proposed by the ACP, as an innovative move toward a customized toll system that is based on vessel type and tonnage and will allow for a permanent modernization program for the Canal. In a further effort to address the specific needs of individual Canal customers, the Council approved a locomotive charge of $200.00 per wire.
Panama Canal Authority Opens Simulator Center
In commemoration of the Panama Canal’s 88th Anniversary on August 15th, Panama President Mireya Moscoso inaugurated a modern Simulator Center with three state-of-the-art simulators that will be used for training Canal maritime personnel. President Moscoso was joined by Canal Administrator Alberto Alemán Zubieta, members of the Cabinet Council members, local and international guests of the maritime sector, and Panama Canal Authority (ACP) officials. The new Center includes the latest technological advances in maritime training and is valued at $1.8 million. The equipment for the center includes a 360- degree visual simulator; a 150-degree simulator and a third auxiliary tugboat simulator that reproduces the systems installed in the floating units of the Transit Resources Division.
Panama Canal Wins $193 mln Arbitration
The head of the Panama Canal Authority said on Monday a Miami-based arbitration board rejected a demand by Spanish-led GUPC consortium for $192.8 million to cover cost overruns during the building of a third set of locks for the century-old waterway. GUPC or Grupo Unidos por el Canal includes Sacyr SA of Spain, Impregilo of Italy, Jan De Nul of Belgium and Constructura Urbana of Panama. The authority's chief executive, Jorge Quijano, announced the ruling in a post on his Facebook page.
Suez Canal, the Fastest Maritime Corridor
Egypt's Suez Canal has maintained its classification as the most important and fastest maritime shipping corridor despite the economic challenges faced by the world in 2015 and 2016, reported Xinhua quoting head of the Egyptian Suez Canal Authority Mohab Mamish as saying. A statement from the canal's authority said on Sunday that its revenues stood at $2.938 billion from January to July. Its revenues jumped to $446.3 million in July from $427.2 million in June, according to Reuters' calculations. In July last year, revenues stood at $429 million.
DP World, Suez Canal to Build Egypt El Sokhna
Chairman of the Suez Canal Authority Mohab Mameish and CEO of DP World Sultan Ahmed Bin Sulayem signed an initial partnership agreement in the UAE to establish a major development company for the development of Ain Sokhna, Al-Ahram daily reported. The partnership was first announced in August following talks between Egyptian President Abdel-Fattah El-Sisi, CEO of DP World Sultan Ahmed Bin Sulayen and Mamish. The Suez Canal project includes the development of a 460 square-kilometer…
Ship Hits Panama Canal
The Panama Canal authority (ACP) says a Chinese container ship’s damaging scrape with the canal’s new wider locks was caused by bad weather, Reuter quotes ACP's administrator, Jorge Quijano. He said that the only problem in the last month involved a China Shipping Container Lines ship, the Xin Fei Zhou, and it was due to intense rainfall and wind and the vessel not lining up correctly. Quijano says it was the only such incident in the widened canal’s first month of operation. He says unfortunately these things happen in their business.
Suez Canal Authority Goes for Major Communications Upgrade
Provider of business collaboration and communication solutions, Avaya, says it has signed a major deal with Cairo ICT 2013, which enables the Suez Canal Authority to move their full 15,000 communications ports to Avaya Aura® Communication Manager. In a move towards complete unified communications the Suez Canal Authority will be able to improve employee mobility, centralizing the communications network with Modular Messaging technology that can 'find' employees and coordinates messaging across sms, email and voice services.
DP World to Develop Economic Zone in Egypt's Sokhna
Admiral Mohab Mamish, Chairman of the Suez Canal Authority and Chairman of the Suez Canal Economic Zone (SCZone), and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, signed a partnership agreement to develop an integrated industrial and residential zone at Sokhna in Egypt, in the presence of Sherif Ismail, the Prime Minister of Egypt. The signing took place at a ceremony in Sharm el-Sheikh at the World Youth Forum. The agreement will establish a joint venture between SCZone (51%) and DP World (49%) with DP World managing the zone…
Suez Canal Authority, DP World Present Sokhna World Zone
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World and Admiral Mohab Mamish, Chairman of the Suez Canal Authority and Chairman of the Suez Canal Economic Zone (SCZone), presented details of the recent agreement to develop an integrated industrial and residential zone at Sokhna in Egypt to investors and businesses in Dubai. The opportunities to invest and launch operations in the project were outlined to company representatives, many of whom already have existing outlets in Dubai’s Jebel Ali Freezone (Jafza).
Big Tankers' Need for Retrofit Slows Use of New Panama Canal
The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected because many ships must first undergo inconvenient retrofits to transit through the new locks, shipping industry experts said. The modifications to these bigger oil carriers - which mostly involve fittings such as chocks and bollards that secure the ship's dock and tow lines - are needed because the new locks that opened in June use tug boats rather than locomotives to pull vessels.
Panama Canal Authority Proposes Changes to Pricing System, Regulations
On January 25, 2007, the Panama Canal Authority's (ACP) Board of Directors gave authorization to proceed with a formal proposal to restructure the Canal's pricing system and certain regulations. The proposal was officially published today and can be accessed at http://www.pancanal.com.
Panama Canal Authority 2009 Q2 Metrics
The Panama Canal Authority (ACP) released second quarter (Q2) operational metrics for fiscal year 2009. In Q2, Canal Waters Time (CWT), the average time it takes a vessel to transit the Canal, including waiting time for passage, decreased significantly, while total transits and net tonnage remained nearly flat. These metrics are based on operations from January through March 2009, the second quarter of the ACP's 2009 fiscal year, and are compared with Q2 of fiscal year 2008. Average CWT decreased 27.9 percent – to 26.22 hours from 36.39 hours. CWT for booked vessels (those ships holding reservations) decreased 19.5 percent – to 15.83 hours from 19.66 hours. The drop in CWT can be attributed to the ACP’s efficient operations and a slight decline in transits.
Suez Canal Revenues Rise to $5.3 Bln
Egypt's Suez Canal revenues rose to $5.3 bln in 2017 from $5 bln in 2016, a statement by the Canal authority said on Thursday. The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of foreign currency. Its revenues were at $462.7 million in Nov. 2017. Reporting by Youssri Ahmed; Writing by Nadine Awadalla
Panama Canal Authority Board Publishes Toll Proposal
Panama Canal Authority The Board of Directors of the Panama Canal Authority (ACP) has published its proposal to restructure the Panama Canal's pricing system and certain regulations. On February 2, 2007, the ACP announced its desire to move toward a charge that accurately reflects the commercial value of the service and route. After a 30-day public consultation period, the ACP conducted a hearing on March 14. The proposal announced today has been slightly modified from the February proposal: At the request of the industry, implementation of the new charges has been postponed from May 2007 to July 2007. Due to this modification, the ACP today is reopening the issue for public comment and will consider additional input, suggestions and feedback from interested parties over the next 15 days.
Kuzniecky Inaugurated as Head of Panama Canal Authority Board of Directors
Former Comptroller General Dani Ariel Kuzniecky Barsky officially assumed his new position as chairman of the Panama Canal Authority (ACP) Board of Directors at an inaugural ceremony conducted at the presidential palace last Monday. Among the first duties in his new role, Kuzniecky headed an ACP commission to present the second quarterly expansion report to the National Assembly of Panama. He also presided over the ACP Board of Directors meeting, where the proposal to restructure the Panama Canal's pricing system for the next three years was approved. Following the decision made by the Board, Mr. Kuzniecky submitted the proposal to the Cabinet Council of the Republic of Panama, which later provided final approval on the proposal Wednesday afternoon.
DP World Moves Ahead with Suez Canal Industrial Zone
Dubai-based ports operator DP World has inked an agreement with the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) to launch the first phase of an integrated industrial and residential zone in Sokhna. The framework agreement, which establishes a clear timetable of actions required to execute the first phase of the project spanning 30 square kilometres, was signed by Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World and Admiral Mohab Mamish, Chairman of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone).
Panama Canal Authority, Peel Ports Form Alliance
The Panama Canal Authority (ACP) has entered into a Memorandum of Understanding (MOU) with major UK ports operator, Peel Ports, who own the Port of Liverpool, as the latter gears up for the formal opening of its Liverpool2 container terminal in early November. The formal agreement creates a strategic alliance aimed at facilitating international trade and generating new business by promoting trade routes between Liverpool and the west coast of South America via the Panama Canal. The agreement was signed October 24 by Jorge L.
Egypt Seeks a New Suez Canal Toll System
Egypt is in talks with global shipping firms to change the way it charges vessels to pass through the Suez Canal, offering discounts for advance payments as it seeks to raise much-needed hard currency from a struggling industry. Denmark's A.P. Moller-Maersk, which runs the world's biggest container shipping line, said on Tuesday it was considering proposals from the Suez Canal Authority for a new toll system. "They have proposed a new payment method and presented it to us, and we are looking at it now…
Maersk Considering New Toll System by Suez Canal Authority
AP Moller-Maersk's Maersk Line shipping arm said it is considering proposals from the Suez Canal Authority for a new toll system that could involve advance payments, reports Reuters. "They have proposd a new payment method and presented it to us, and we are looking at it now," a company spokesman said. The Wall Street Journal earlier quoted Canal Authority Chairman Mohab Mamish as saying it aimed to levy charges for three years or five years in advance. Talks with Maersk, Geneva…