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 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.
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.
Panama Canal Infrastructure to be Valued by VRC
Leading provider of independent valuations, Valuation Research Corporation (VRC) says it has been engaged by the Panama Canal Authority to value the locks, dams, power plants and other structures of the canal for insurance purposes. This is VRC’s second valuation engagement with the authority. In 2004, VRC was engaged to provide a comprehensive valuation in connection with financing the Canal’s expansion. “We are very pleased to once again work with the Panama Canal Authority,” said Richard Nordberg, Managing Director.
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 Plans LNG Terminal
The Panama Canal Authority (ACP), which administers the canal, is looking at building a Liquefied Natural Gas (LNG) import terminal near the Canal. The ACP has been awarded a US Trade and Development Agency grant to help fund a feasibility study for the project, which it is considering for when the expanded canal is opened next year and the waterway is expected to handle considerable liquefied natural gas tankers. A statement from the U.S. Trade and Development Agency says that…
Panama Canal Authority Receives Honors
In honor of his leadership, Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta received a “Lifetime Achievement Award” from Lloyd’s List. Presented at the publication’s Global Awards ceremony in London, the award is given on an annual basis to an individual who has dedicated his or her life's work to furthering the development of the maritime industry. The ACP’s Center for Simulation, Research and Maritime Development (SIDMAR) also received the Lloyd’s List “Training Award” for its leadership in elevating the quality of maritime education and training.
How Ports Can Help to Cut Shipping CO2
Ports play an important role in reducing the global carbon footprint of maritime shipping, says a new report by the International Transport Forum at the OECD. Greenhouse gas emissions from shipping currently represent around 2.6% of total global emissions. Without reduction measures, this share could more than triple by 2050. The International Maritime Organization (IMO) last week set a target of reducing shipping CO2 emissions by “at least” 50 percent by 2050 compared to 2008 levels. To achieve this, stringent measures now need to be put into place.
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…
Panama Canal Celebrates 96 Years
On August 15, the Panama Canal will celebrated 96 years of safe, reliable and efficient service to global trade. The SS Ancon officially inaugurated the waterway on its first transit August 15, 1914. Today, the Canal continues as a viable global transportation and logistics leader, connecting more than 144 different trade routes and uniting the world. As the historic $5.25b Expansion Program continues as planned, the Panama Canal Authority looks optimistically forward to the future and remains committed to providing top-notch service for years to come.
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.
Preventive Measures at Panama Canal Against Ebola
The Panama Canal Authority, in coordination with the country's Ministry of Health (MINSA), is taking the following measures to prevent the spread of the Ebola Virus Disease (EVD) and protect Canal workers and customers. The Maritime Sanitation Unit of MINSA is the authority responsible for investigating and authorizing the necessary clearance to board vessels with suspicious or reported EVD cases. * The Authority is continuously monitoring the last 10 ports of call for all vessels…
Strike Call Lifted on Panama Canal Expansion Work
The Panama Canal Authority (ACP) expressed its satisfaction after the main contractor for the Third Set of Locks Project, Grupo Unidos por el Canal (GUPC), and the National Union of Workers of Construction and Similar Industries (SUNTRACS) reached an agreement which supersedes the strike call in the new locks’ construction site in both the Atlantic and the Pacific sides. The ACP expects this agreement marks the continuation of a harmonious relationship between both parties, and thus the completion of the work as it is scheduled, which has now reached 93 percent completion.
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.
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.
Crowley Transports Panama Canal Gate
Crowley Maritime Corp.’s heavy lift barge 455 4 successfully delivered the first in a series of new gates for the ongoing Panama Canal expansion. Crowley is scheduled to help transport all eight of the gates involved in the Pacific side lock expansion of the Canal – a project that when coupled with the Atlantic side expansion will create a new lane of vessel traffic and double the waterway’s capacity. The 455 4 was contracted by Sarens, a Belgium-based heavy lift company, to transport the gates from Cristóbal…
Milestone in Panama Canal Expansion Reached
Panama Canal Completes Major Step in Expansion Program. In another important milestone of its Expansion Program, the Panama Canal Authority announced the completion of phase three of the dry excavation project in the construction of the Pacific Access Channel (PAC). The Pacific Access Channel will connect the third set of locks with the Culebra Cut and Gatun Lake. The third phase of the PAC – costing $36.6 million including design, contractors and management – consisted of excavating 8.2 million cubic meters of materials…
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 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.
Panama Canal Hosts Georgia Governor
The Panama Canal Authority (ACP) welcomed Georgia Governor Sonny Perdue (pictured left) to the Panama Canal September 24. Joined by senior leaders from the Georgia Ports Authority (GPA) and the Georgia Department for Economic Development, Governor Perdue visited the Canal to learn about the historic expansion of the waterway and the anticipated benefits the project will bring to Georgia. ACP Administrator/CEO Albert Alemán Zubieta met with the Georgia delegation during their visit and provided an update on expansion, which continues to progress on-time and on-budget.
Panama Canal Sets Depth Limit on Ships Due to Drought
The Panama Canal will next month impose new draft restrictions on ships due to falling water levels at nearby lakes that form part of the waterway, the authority that administers the canal said in a statement on Monday. Ships seeking to cross the waterway must comply with a maximum depth limit of 39 feet (11.89 meters) beginning on April 18, but the Panama Canal Authority (APC) said the impact on operations would be minimal. The "temporary and preventive measures" are connected to local climate impacts of El Niño…
Panama Canal Expansion Tripartite Meeting
A Panama Canal Authority (ACP) delegation met with International Chamber of Shipping & IMO representatives for canal expansion talks. The ACP delegation was headed by Administrator Jorge L. During these meetings, Canal officials presented a progress report on the waterway's Expansion Program and the requirements for new Panamax vessels to transit the new lane once it is completed, including a conceptual framework to change the waterway's toll structure after 2014. The Expansion…
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 Authority FY 2009 Metrics
The Panama Canal Authority (ACP) announced its operational metrics for the 2009 fiscal year (FY 2009). Most importantly, Canal Waters Time (CWT), the average time it takes a vessel to navigate the Canal, including waiting time, significantly decreased. Fiscal year 2009 (October 2008 – September 2009) statistics show a slight decline in total transits and tonnage compared to FY 2008. In addition, the Canal experienced growth in some principal segments, most notably, general cargo, dry bulk, and tanker transits. In FY 2009, CWT decreased 26.9 percent – from 31.55 to 23.06 hours.
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.
Panama Canal Transit Fees Up
Government of Panama approves canal tolls increases effective Ocober 2012. The Government of Panama has approved the proposal to restructure and apply selective increases in the Panama Canal pricing system, effective from 1 October 2012 to 1 October 2013. There will also be changes to tolls applicable to small vessels, based on vessels' length, to incorporate adjustments not previously considered. The remaining segments will not be adjusted at this time, nor will the price per TEU for containers carried onboard a vessel.