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…
Panama Canal Begins Centennial Countdown
The Panama Canal Authority (ACP) began the countdown for the centennial celebration as it commemorates its 99th anniversary. The countdown’s events will highlight the waterway’s contribution during the past 100 years and the efforts underway to face the challenges of the upcoming decades. The countdown began with the presentation of the Panama Canal Centennial logo on the control house balcony at the Miraflores Locks in a ceremony attended by members of the ACP Board of Directors and Panama Canal executives.
COSCO's Vessel Departs Greece for Inaugural Transit through Extended Panama
The container vessel COSCO Shipping Panama set sail from the Greek Port of Piraeus today on its way to Panama to make history. The Neopanamax vessel will make the inaugural transit of the Expanded Panama Canal on Sunday, June 26, after a 14-day journey. Panama Canal Administrator Jorge L. Quijano met with COSCO Shipping Panama’s Captain Jude Rodrigues and crew members prior to the ship’s departure. “I am very excited to be here today to witness the sailing of the ship from Greece, but also meet the Captain and his crew,” said Administrator Quijano.
PSA Starts Expansion Work on 2m teu Panama Terminal
Singapore-based port operator PSA Panama International Terminal (PSA Panama) has started a USD 400 million expansion of its container terminal located on the west bank of the Panama Canal Pacific. It has started on the expansion after being granted approval by the National Assembly, the Panama Canal Authority ACP, the Panama Maritime Authority and the Panamanian State. The expansion is targeted to be ready for operations before the end of 2016, in conjunction with the commercial opening of the expanded Panama Canal.
Maersk Line CEO Visits Panama Canal Expansion
Panama City, Panama, May 14, 2013 – Maersk Line CEO Søren Skou visited the Panama Expansion construction site accompanied by Panama Canal Administrator Jorge L. Quijano during his recent trip to Panama. Skou and other Maersk Line executives had the opportunity to see the construction site of the new locks in the Atlantic side, which will allow the transit of Post-Panamax vessels through the Panama Canal. During the visit, Panama Canal Administrator Jorge Luis Quijano updated the delegation on the progress of the expansion program.
Indonesia, Panama explore maritime cooperation
The governments of Indonesia and Panama have explored cooperation in the field of maritime affairs, reports the Jakarta Post. The cooperation in maritime affairs especially regarding the management of seaports include vessel registration, the eradication of illegal fishing, the protection of ship crews, the certification of seafarers and the development of bilateral trade, says the Indonesian foreign ministry's Director General for America and Europe Dian Triansyah Djani. "Indonesia…
Panama Canal Centennial Featured in Conference
The 100 years of the Panama Canal will be featured in the 2014 American Society of Civil Engineers (ASCE) Global Engineering Conference held October 7 - 11, 2014 in Panama City, Panama. This year’s conference hosts approximately 1,000 professionals in the field of engineering worldwide. The conference began with Panama Canal Administrator Jorge L. Quijano’s opening keynote address, providing an update on the Expansion Program and its technical aspects. “This conference is an opportunity…
Panama Invites China and Taiwan for Canal Ceremony
Taiwanese President-elect Tsai Ing-wen and Chinese President Xi Jinping have both been invited to the inauguration ceremony of the newly expanded Panama Canal on June 26. Tsai Ing-wen's invitation from its Panamanian diplomatic ally is drawing local media attention as Chinese leader Xi Jinping has also been invited to the same event. Aside from focusing on the possibility of a "Tsai-Xi" meeting on the sidelines, Panama's intentions need to be scrutinized with regard to a possible resumption of a diplomatic recognition tug-of-war across the Taiwan Strait.
Panama to Transform its Role with Canal Expansion
Knowledge@Wharton, the Wharton School of the University of Pennsylvania journal, says that the transformation Panama Canal expansion project will bring to Panama’s domestic economy and society have been largely overshadowed by the historic expansion. With the opening of the long-awaited Panama project this June, all eyes are on the impact the $5.25 billion engineering marvel will have on maritime traffic across the vital international lanes that link the Pacific, the Atlantic and the Gulf of Mexico.
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.
Panama Canal Dismisses ITF Claims
The Panama Canal has dismisses claims by the International Transport Workers’ Federation (ITF) that questions industry standards and the operation of the Expanded Panama Canal’s new locks. Claims made by ITF that new locks built for the Panama Canal expansion will be unsafe in operation have been strongly rejected by the Panama Canal Authority (ACP) as lacking scientific accuracy and credibility. Following the publication of an ITF-commissioned study, Peter Pusztai Panama, Canal Pilot Training Coordinator, said: “The ITF’s claims are unproven and contain many errors.
ACP to Modify Pricing Structure
Panama Canal proposes tolls adjustments and creates new market segments to reflect real value of the route and better serve its customers.New market segments by vessel type are created and consultation period with interested parties begins. The Panama Canal Authority (ACP) Board of Directors approved a proposal to modify the Panama Canal pricing structure to align Canal toll charges with the value the route provides. The proposal increases the number of segments from eight to eleven by Panama Canal vessel type.
ACP CEO Honored with Latin Trade Award
Top award acknowledges outstanding service in the Western Hemisphere. CEO of the Panama Canal Authority, Alberto Alemán Zubieta, will be awarded the Latin Trade BRAVO Business Award for Distinguished Service in the Hemisphere on October 28. With nine categories, including a Lifetime Achievement Award and Dynamic CEO of the Year, the BRAVO Business Awards are given to those playing a key role in improving Latin America’s economy, business and education. “I am humbled by this honor…
Panama Canal Reports Record Tonnage
The Panama Canal registered a tonnage record of 87.7 million PC/UMS tons (Panama Canal Universal Measurement System) during the first quarter of the fiscal year (FY), a 4.8% increase from what was forecasted. “These results reaffirm Panama Canal’s impact on international trade and its role of continuing to offer a reliable and competitive service to its customers,” Panama Canal Administrator Jorge L. Quijano said. The Panama Canal fiscal year goes from October 1 to September 30. The previous record was during the first quarter of FY 2012 which registered 86.2 million PC/UMS tons.
Maersk Move to Suez Route Temporary Says Spokesman
The modification of two Maersk shipping routes to pass through the Suez Canal rather than Panama is temporary, says a Maersk spokesman. The diversion from the Panama Canal to an alternate route has contributed to a decline in revenue for the canal administration, The Maersk Line, has used the waterway for over 90 years to transport goods to different continents, reports 'Newsroom Panama'. Since April 1, 2013 the line has temporarily suspended its Panama Canal service between Asia and the U.S.
Kongsberg Maritime Opens Office in Panama
Kongsberg Maritime has established a new country office in the Republic of Panama. Opened in January 2016 and situated in the ‘Canal Zone’ close to Panama City, Kongsberg Maritime Panama will service merchant fleet customers transiting the Canal and the extensive tug sector in the region, in addition to providing support for ongoing or planned land reclamation dredging and new port and terminal construction projects. Kongsberg Maritime Panama expands the Norwegian headquartered maritime technology company’s global presence to 65 offices…
Panama Canal Board Approves New Port Plans
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 National Assembly. The project is another example of the canal’s continual commitment to develop new products, enhancing customer service and furthering Panama’s position as the logistics and maritime hub of the Americas.
PMC Opens Membership to International Shipowners
For the first time in its history, PANAMA MARITIME CHAMBER (PMC) has opened its membership to international shipowners with vessels registered in Panama – making it the equivalent of a Panamanian Shipowners’ Association. Jose Digeronimo, chairman of the Panama Maritime Chamber said: “There are over 9,000 vessels registered under the Panama flag, and our aim is to involve and help shipowners with representation, information, education, networking, trade missions and most important, lobbying on their behalf”.
Maritime Exercises Kicks Off in Panama
More than 4,500 personnel from 20 countries began a 12-day exercise in Panama City on Sept. 11 to train in a joint, multinational effort to ensure the security of the Panama Canal. U.S. and Panamanian officials held a formal opening ceremony Friday for Fuerzas Aliadas (Allied Forces) Panamax 2009, co-sponsored by U.S. Southern Command and the Government of Panama, in Panama City, Panama. Representatives of the 20 participating nations joined Jose Raul Mulino, Panama's Minister of Government and Justice, and U.S. Army National Guard Brig. Gen. Gerald W. Ketchum, Director of Stability for U.S.
Aegean Announces Expansion Plans in Panama
PIRAEUS, Greece, April 18, 2011 /PRNewswire/ -- Aegean Marine Petroleum Network Inc. (NYSE: ANW) today announced it has been awarded a 20-year concession by the Panamanian Maritime Authority (PMA) to operate onshore storage facilities in the ports of Cristobal and Balboa in Panama on an exclusive basis. The award is subject to the fulfillment of certain conditions by the Company and completion of definitive documentation with the appropriate Panamanian authorities. In addition…
Panama Canal Commemorates 14 Years Under Panamanian Administration
On the countdown to its centennial in 2014, the Panama Canal celebrates 14 years under Panamanian administration, characterized by its enhanced service to world maritime trade. "The Panama Canal has strengthened its role in international trade, while contributing to the country’s development,” said Panama Canal Administrator Jorge L. Quijano. The Panamanian management model has enabled the efficient and safe operation of the Canal, allowing it to offer a world-class service. Under Panamanian administration…
Panama Canal to Develop New Port
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 National Assembly. The project is another example of the Canal’s continual commitment to develop new products, enhancing customer service and furthering Panama’s position as the logistics and maritime hub of the Americas.
Panama Economic Activity Picks Up in October
Panama's economic growth accelerated in October from a year ago, the government said on Friday. The economy grew 5.54 percent, its fastest rate so far this year, and up from 5.10 percent in September, due to an improvement in fisheries, mining, construction and shipping through the Panama canal. Panama's economy has been cooling as $15 billion of infrastructure projects, mainly for the expansion of the Panama Canal, have been winding down. Such public works had helped lift economic growth to one of the highest rates in Latin America in recent years.
Panama Canal Celebrates 100 Years
The Panama Canal celebrates today a century of operations connecting the world, committed to completing its Expansion, the largest infrastructure project of the waterway since its opening. "Going forward, the Panama Canal will continue to connect the world, supported by all the modernization efforts since its construction,” said Panama Canal Administrator Jorge L. Quijano. The Panama Canal opened to world trade on August 15, 1914 with the passage of SS Ancon. Ever since, the 80-kilometer waterway has registered over 1,055,000 transits reducing distances, time and shipping costs.
Bank President Visits Panama Canal Locks
President of Inter-American Development Bank (IDB), Luis Alberto Moreno, visits the construction site of the new locks in Colon province. The new locks, situated on the Atlantic side, were visited by Moreno, accompanied by IDB delegates, who are in Panama to participate in the Fifty-Fourth Annual Meeting of the Board of Governors which takes place from March 14 to 17, 2013. During the visit, Panama Canal Administrator Jorge Luis Quijano presented an update on the progress of the Expansion Program.
ACP Hosts International Maintenance Congress
The Panama Canal Authority (ACP) hosts the first International Maintenance Congress, focused on developing a business culture of profitability, maintenance & sustainability. Experts from United States, Chile, Costa Rica, Colombia, Mexico, Brazil, Uruguay and Panama participate in the 16, January 2013 congress held in the Ascanio Arosemena Training Center through January 18, 2013. The congress will develop three main topics: reliability and maintenance, management of maintenance and maintenance technology.