Panama Canal Signs MoU with Rotterdam Port
The Panama Canal and the Port of Rotterdam signed a Memorandum Understanding (MOU) to promote international trade between Europe and the West Coast of South America.Through this agreement, the two organizations will work closely to optimize operations while encouraging economic growth and the exchange of information on new business development opportunities, including logistics parks and port development projects."The Expanded Canal continues to reshape global trade routes today…
Dr. Ricaurte Takes Office as Panama Canal Administrator
Dr. Ricaurte Vásquez Morales was sworn-in during a ceremony held at the Panama Canal Administration Building in Panama City, becoming the fourth Panamanian Administrator of the waterway shortly before it celebrates its 20th year under Panamanian administration on December 31, 2019.Administrator Vásquez an economist with more than 30 years’ experience in the public and private sector said: "Just a few months short of the 20th anniversary of the transfer of the Canal to the Panamanian people, we face a distinctly different reality today.
Largest Boxship Ever Transits Panama Canal
Today, the Panama Canal completed a trial transit of Evergreen’s Triton, the largest vessel in dimension and container cargo capacity to pass through the Expanded Canal since it opened in June 2016.The Neopanamax containership Triton, which has a Total TEU Allowance (TTA) of 15,313, a 20-row beam of 51.2 meters and a length of 369 meters, transited northbound from the Pacific to the Atlantic Ocean.Similar to the milestone Q-Flex transit completed on May 12, today’s achievement was made possible by an increase to the maximum allowable beam for vessels transiting the Neopanamax Locks.
Triton Makes Record Transit Through Panama
The Panama Canal completed a trial transit of Evergreen’s Triton, the largest vessel in dimension and container cargo capacity to pass through the Expanded Canal since it opened in June 2016.The Neopanamax containership Triton, which has a Total TEU Allowance (TTA) of 15,313, a 20-row beam of 51.2 meters and a length of 369 meters, transited northbound from the Pacific to the Atlantic Ocean.“We are excited about the opportunities enabled by the Triton’s trial transit,” said Panama Canal Administrator Jorge L.
6,000th Neopanamax Transit at Panama Canal
The Panama Canal welcomed its 6,000th Neopanamax vessel through the Expanded Canal, underscoring the route’s ability to accommodate the highly-dynamic liquefied natural gas (LNG) segment, which first transited the waterway following the inauguration of the Expanded Canal less than three years ago.The LNG vessel Energy Liberty completed the milestone transit today travelling southbound from the Atlantic to the Pacific Ocean. Constructed in 2018, the vessel has a cargo capacity of 165…
Moody's Upgrades Panama Canal Rating
Moody’s Investors Service upgraded the 20-year $450 million Senior Unsecured Bonds issued by the Panama Canal Authority (ACP) to A1 from A2, with a stable outlook, based on the waterway's strong performance since the expansion's inauguration.Moody's noted that the Expanded Canal has increased overall tonnage and attracted new market segments, contributing to the waterway's strong performance. According to Moody's, "stronger cash flow generation coupled with a relatively low leverage…
Panama Canal Sets Record Annual Cargo Tonnage
The Panama Canal closed its 2018 fiscal year with a record tonnage of 442.1 million Panama Canal tons (PC/UMS), which represents a 9.5 percent increase from the previous year, the Panama Canal Authority reports.With this tonnage, the Panama Canal surpasses the cargo projections of 429.4 million PC/UMS tons for FY 2018, as well as the 403.8 million PC/UMS tons registered in FY 2017."The Panama Canal continues to exceed our expectations, reinforcing every day the importance of the waterway's expansion and its impact on global maritime trade," said Panama Canal Administrator Jorge L. Quijano.
Four LNG Carriers Transit Panama Canal in One Day
The transit of four liquefied natural gas (LNG) carriers through the Panama Canal’s Neopanamax Locks in a single day marks a new milestone for the canal and reinforces its capacity to handle growing demand from the U.S., where several new LNG export terminals are scheduled to begin operating.On Monday, the vessels Ribera del Duero Knutsen with a cargo capacity of 173,000 m3 and Maran Gas Pericles with cargo capacity of 174,000 m3 transited northbound, while Torben Spirit with a cargo capacity of 174…
4,000th Neopanamax Vessel Transits the Panama Canal
The Panama Canal registered the transit of its 4,000th Neopanamax vessel through the Expanded Canal, underscoring the steady growth of the burgeoning liquefied natural gas (LNG) segment – which began transiting the waterway for the first time following the inauguration of the Expanded Canal.The LNG tanker Maria Energy completed the milestone transit traveling southbound from the Atlantic to the Pacific Ocean on July 29."The steady increase in Neopanamax transits reflect our customers’ confidence in the Expanded Canal…
Panama Canal Expansion Marks Second Anniversary
Today marks Panama Canal's two-year anniversary of the inauguration of its Canal Expansion. It is the largest enhancement project in the waterway’s 103-year history. To date, the Canal has transited 3,745 Neopanamax vessels. The performance of the Expanded Canal’s Neopanamax Locks continues to exceed expectations. The transit of the Canal’s largest cruise ship to date, the Norwegian Bliss, weighing more than 168,000 gross tons and carrying nearly 5,000 passengers. Recording year-on-year growth, in terms of number of transits and total cargo volumes.
Panama Canal Sets Monthly Tonnage Record
Yesterday, for the third time since the inauguration of the Expanded Canal, the Panama Canal set a new monthly tonnage record of 38.1 million tons (PC/UMS) after facilitating the transit of 1,231 vessels in May 2018.The previous record was established in January 2017, when 1,260 vessels transited 36.1 million tons (PC/UMS) through the waterway, just a month after setting the record with 35.4 million tons (PC/UMS) transited by 1,166 vessels in December 2016.The containership segment contributed highest tonnage (36 percent)…
Panama Canal Lifts Daily Neopanamax Reservations to Eight
The Panama Canal announced that it has added an additional reservation slot to its Neopanamax locks, effective from Monday (May 07), bringing the total available booking slots to eight daily. The decision to offer additional capacity to shippers was made as a part of the Canal's routine careful planning and analysis to meet the increased demand at the interoceanic route, inaugurated nearly two years ago. Since then, the global maritime community has increasingly taken advantage of the time and cost savings afforded by the Expanded Canal.
Panama Canal Pact with Mato Grosso for Bulk Grain Cargoes
The Panama Canal signed a Memorandum of Understanding (MOU) in Cuiabá, Brazil that will promote the Panama Canal's position as a route for grain shipments traveling from northern Brazil to ports accessed in the Pacific Ocean. The agreement, signed with the Association of Soybean and Corn Producers of Mato Grosso (Aprosoja), will allow the two groups to conduct joint marketing activities and exchange market studies and information on trade flows to support modernization and improvement programs.
Panama Canal Sets Record Annual Cargo Tonnage
Following the close of its 2017 fiscal year (FY17), the Panama Canal announced that the waterway welcomed a record 403.8 million Panama Canal tons (PC/UMS) of cargo in FY17, the largest amount of annual tonnage ever transited in its 103-year history. The 22.2 percent increase from the previous year can be directly attributed to the added capacity provided by the Expanded Canal. According to figures, the Panama Canal transited a total of 13,548 vessels during its FY17, representing a 3.3 percent increase compared to totals the year before.
Panama Canal Expects 230+ Cruise Ships This Season
The Panama Canal announced that it expects to receive approximately 235 cruise ships through the Panamax and Neopanamax Locks during the upcoming 2017-2018 cruise season. Beginning in October, this will be the first full cruise season to welcome vessels through the Expanded Canal. “In addition to the existing locks, cruise lines now have the option to include the Expanded Canal as part of their itineraries,” said the Panama Canal’s international trade specialist Albano Aguilar. In April 2017, Disney Cruise Line’s Disney Wonder became the first cruise ship to ever transit the Expanded Canal.
2,000th Neopanamax Transits Expanded Panama Canal
Yesterday, the Panama Canal welcomed its 2,000th Neopanamax vessel through the waterway, demonstrating the route’s continued impact on maritime trade and the industry’s confidence in the safe, reliable and efficient service the Canal provides. The COSCO Yantian containership completed the milestone transit through the Expanded Canal traveling northbound from the Pacific to the Atlantic Ocean. The vessel measures 351 meters in length and 43 meters in beam, with a total TEU allowance (TTA) of 9,504.
Cyber Attacks Threaten Shipping & Dominate Maritime News
The maritime industry must redouble its efforts to secure IT systems and data. In June, Maersk Line A/S’s information systems were severely disrupted by the so-called Petya virus. FMC provided Maersk with relief to help them get through the difficult situation. In Mid-July, a researcher penetrated a ship’s internet system through its very small aperture system (VSAT). The ship was operating in the South America trade. An internet security researcher identified as “x0rz” discovered that many shipboard VSAT systems can be penetrated through the public internet…
CMA CGM Theodore Roosevelt Breaks Panama Canal Capacity
The Panama Canal welcomed the largest capacity vessel to ever transit the Expanded Locks, the CMA CGM Theodore Roosevelt. CMA CGM Theodore Roosevelt became the largest container ship ever to cross the new canal. Leaving the Port of Yangshan on July 28th, the CMA CGM giant crossed the new Panama Canal on August 22th. "Today's transit not only represents the growing success and adoption of the expanded canal, but also its impact on reshaping world trade," Jorge Quijano, the Panama Canal's adminstrator, said in a statement following the Theodore Roosevelt's passage.
Panama Canal Welcomes Largest Capacity Containership To-date
The Panama Canal today welcomed the largest capacity vessel to ever transit the Expanded Locks, the Neopanamax containership CMA CGM Theodore Roosevelt, which began its voyage from Asia, will be making stops along the U.S. East Coast. The ship has a total TEU allowance (TTA) of 14,855 and measures 365.9 meters in length and 48.2 meters in beam. “Today’s transit not only represents the growing success and adoption of the Expanded Canal, but also its impact on reshaping world trade,” said Panama Canal Administrator Jorge L. Quijano.
Largest Ship To-date Transits Expanded Panama Canal
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. Sailing from Asia, COSCO Development will soon become the largest ship to arrive on the U.S. East Coast when it calls at several ports there next week. The vessel is deployed on the new OCEAN Alliance’s weekly South Atlantic Express (SAX) service, connecting Asia-U.S. East Coast ports via the Panama Canal.
Expanded Panama Canal Welcomes 1000th Neopanamax Vessel
Less than nine months after the historic inauguration of the Expanded Canal, the Panama Canal has announced that it has welcomed its 1,000th Neopanamax vessel through the waterway, highlighting the importance of the route and customers’ continued faith in the safe, reliable and efficient service the Canal provides. On Sunday, March 19, the containership Mediterranean Shipping Company's MSC Anzu made the historic 1,000th transit through the Expanded Canal, heading northbound from the Atlantic to the Pacific Ocean.
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 Expansion Boosts US East Coast Port Volumes
As the Panama Canal’s newly operational expanded lane helps set monthly tonnage records, the project’s impacts are being felt along the U.S. East Coast. Effects of the canal’s expansion are reverberating well-beyond Panama’s shores, as ports around the world are in varying stages of work to deepen and widen their channels to accommodate the growing number of Neopanamax vessels that can now transit the canal. Now nearly one year on from the first vessel transit through the expanded waterway, many ports are benefitting, particularly those along the U.S. East Coast.
Panama Canal Sets Monthly Tonnage Record
In January 2017, the Panama Canal set a new monthly tonnage record of 36.1 million Panama Canal tons (PC/UMS), with the transit of 1,260 ships through both the Expanded and original locks. The previous record was established the month prior, in December 2016, when 1,166 ships transited the waterway for a total of 35.4 million PC/UMS. “This increase reiterates the importance of the Expanded Canal, and it's further proof of the maritime industry’s continued confidence in the Panama Canal and the impact it will have on the future of global trade,” said the Panama Canal Administrator Jorge L.
Expanded Panama Canal Welcomes its 500th Neopanamax Transit
Less than six months after the inauguration of the Expanded Panama Canal, the waterway welcomed its 500th transit of a Neopanamax ship on Wednesday, highlighting the trust that Canal customers have placed in the route. Performing the 500th transit was the container vessel YM Unity, which first began its passage through the Cocoli Locks in the Pacific and then headed north towards the Agua Clara Locks. Built in 2006, the YM Unity (of the Yang Ming Marine Transport Corporation) measures 335.7 meters in length and 42.8 meters in beam and has a carrying capacity of 8,200 TEUs.
Liverpool Port Eyes Transatlantic Expansion
Liverpool's new container terminal expects to ramp up transatlantic shipping as British companies look to deepen business ties despite concerns that the U.S. election of Donald Trump could hinder free trade, the port operator's chief said. Private group Peel Ports has invested 400 million pounds ($510 million) in transforming Liverpool's existing facility into a deep-water container terminal that can receive bigger ships. The new development opened last month. Mark Whitworth, chief executive of Peel Ports…