Panama Canal LNG Volume Soars as Global Demand Grows
The Panama Canal may carry five times as much liquefied natural gas (LNG) in 2020 as it did last year as production of the fuel expands in the United States and Asian import demand rises, the head of the canal's governing agency told Reuters.LNG volumes traversing the Canal could hit 30 million tonnes a year before the end of 2020, said Jorge Quijano, who leads the Panama Canal Authority, up from 6 million tonnes last year.Demand for LNG has risen significantly in the last three years as the increase of supply…
Panama Canal Expects LNG Tanker Traffic to Rise 50%
The number of liquefied natural gas (LNG) tankers traversing the Panama Canal is expected to jump 50 percent by September due to rising exports of the fuel from the United States, the head of the canal's governing agency told Reuters. After adding a third set of locks in 2016, the Panama Canal Authority expects that growing global demand for LNG will boost transit through the waterway, said Jorge Quijano, head of the authority. Demand for LNG has taken off in recent years because of abundant supplies of natural gas…
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.
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.
June Deadline for Panama Canal Expansion
The Panama Canal expansion project is now expected to be finished “mid of 2016” says a report in Reuters quoting the waterway's administrator. "The new set of larger locks for the Panama Canal will be complete by the end of June, after more than a year-long delay and after builders repaired cracks that had formed in the concrete walls," says Jorge Quijano, who leads the Panama Canal Authority. The consortium building a third, bigger set of locks on one of the world's busiest maritime routes…
Panama Canal Sets Sight on Another Expansion
As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world's biggest ships. Workers are now installing giant, 22-story lock gates to accommodate larger "Post-Panamax" ships through the Canal, one of the world's busiest maritime routes. The project involves building a third set of locks on the Canal. It is being headed by Italy's Salini Impregilo and Spain's Sacyr, and should open on April 1, 2016.
Panama Canal Cost Dispute Headed to Miami Court
A $180 million claim involving the Panama Canal's disputed $1.6 billion cost overrun is headed to arbitration court in Miami next week, canal officials said on Monday. The $180 million claim by the consortium working on the massive canal expansion project is the first of several disputed construction costs that could end up in the hands of the Miami arbitrators. The cost overrun temporarily halted work on the massive expansion project in February, and the Panama Canal Authority now says the project is on track to open in January 2016.
Panama Okays New Canal Toll Structure
Panama’s cabinet council has approved a request by the Panama Canal Authority (ACP) to modify the canal toll structure and implement volume-based discounts for container ships. The new toll schedule will take effect April 1, 2016. New tolls apply to all lanes, including the new third lane, according to the Panama authorities as reported by energy news provider Platts. It modifies the pricing structure for most canal segments and establishes a new segment specifically for LNG tankers - a key new market for the canal once the expansion is completed.
China to Dig the Nicaragua Canal With a Change in Layout
The $50 billion project of Hong Kong development company HKND to build an artificial waterway across Nicaragua to go ahead with some modification of the route of the canal to avoid affecting ecological zones and farming communities opposed to the project. The vice president of the Chinese company, Kwok Wai Pang, reportedly said that the HKND is studying modifications in the design of the channel. According to Kwok, adjustments seek to "avoid affecting the people of El Tule" located along the river of the same name where the road would…
Global Maritime take Center Stage @ Danish Forum
The second Annual Danish Maritime Forum, scheduled for October 7-8, 2015, in Copenhagen, brings together a wealth of global maritime leaders to address present and long-term challenges for industry. Discussions at this year’s Danish Maritime Forum are influenced by volatility in global markets and uncertainties about future growth and will focus on how the maritime industry can address these challenges in both the short and long term. Other topical issues will include the New Chinese Silk Road, the global energy outlook and the future of ocean governance.
Will Opening of Expanded Panama Canal Be Delayed?
Though cracks were detected in the concrete walls of one of the locks of the newly expanded Panama Canal last month, the Panama Canal Authority (ACP) is maintaining an April 2016 start date for the revamped inter-oceanic waterway, reports Fox News. ACP informed that the April 2016 date remains unchanged. It was waiting for the GUPC consortium, led by Spanish construction giant Sacyr Vallehermoso, to deliver it a report on the seepage that also states whether it will result in any delay in completing the expansion.
ACP Demands GUPC to Resume Locks Project Work
The ACP demanded today that Grupo Unidos por el Canal (GUPC), the consortium in charge of the construction of the third set of locks, resume work on the project as required by the contract. GUPC is formed by the companies Sacyr Vallehermoso, S.A (Spain), Impregilo, S.p.A. (Italy), Jan de Nul Group (Belgium) and Constructora Urbana, S.A. (CUSA) (Panama). After two weeks of negotiations, which saw production levels drop to 25%, almost all activity has ceased. The Canal Administrator…
New Panama Canal Dredger Named in Dutch Shipyard
A backhoe dredger built by IHC Merwede was named ALBERTO ALEMÁN ZUBIETA at its associate's NMC shipyard, in Nieuw- Lekkerland, The Netherlands. The backhoe dredger will initially be used for the expansion of the Panama Canal and subsequently for its maintenance. The vessel was built by IHC Merwede for Autoridad del Canal de Panama (ACP) and was named by Mrs Ana Matilde Alemán, who is the wife of ACP's former CEO, Mr Alberto Alemán Zubieta. A large delegation from ACP attended the event…
Panama Canal Inks Deal with Lake Charles Port
The Panama Canal Authority (ACP) signed a cooperation agreement with the Port of Lake Charles in Louisiana earlier this week, which aims to attract new customers from the liquefied natural gas (LNG) industry; a strategy that builds upon the advantages that the expanded Canal will offer. Currently, LNG vessels cannot transit through the waterway due to their beam dimensions, which are too wide to fit the existing locks. The agreement will promote cooperation in marketing activities…
Delay 'Likely' in Opening of Expanded Panama Canal
The opening of a newly expanded Panama Canal, previously scheduled for April, will be postponed due to cracks detected in the new set of locks that are the centerpiece of the $5.25 billion overhaul, EFE quotes Panama Canal Authority (ACP) head Jorge Quijano as saying. The interoceanic waterway agency was still planning for the inauguration to occur during the second quarter of 2016 and no later than June. Under the new timetable, the GUPC consortium that is carrying out the expansion will begin navigation tests in April…
ACP Names New Director
Panama Canal Authority Board of Directors appoints new Canal Administrator. The Panama Canal Authority (ACP) Board of Directors announced today the appointment of engineer Jorge Luis Quijano as the new Panama Canal Administrator. Mr. Quijano will succeed Alberto Alemán Zubieta, who has been at the helm of the Canal for the past 16 years and whose term will end on September 3, 2012. “We are proud to announce the appointment of Jorge Quijano as the new Canal Administrator. The Board of Directors…