U.S. Secretary of State Marco Rubio on Sunday warned Panama's President Jose Raul Mulino that Washington will 'take measures necessary' if Panama does not immediately take steps to end what President Donald Trump sees as China's influence and control over the Panama Canal.Mulino, after the talks with the top U.S. diplomat in Panama City, signaled he would review agreements involving China and Chinese businesses…
Some U.S. lawmakers and officials are touting a nearly half-century-old treaty between the United States and Panama to justify the Trump administration's threat to reclaim the Panama Canal - provided it can show the strategic waterway's operation is under threat…
When Marco Rubio arrives in Latin America this weekend on his first foreign trip as Donald Trump's secretary of state, he'll find a region reeling from the new administration's shock-and-awe approach to diplomacy.In the first days of Trump's second term…
The Panama Canal Authority could double in coming years the number of containers that move through the commercial waterway that links the Pacific and the Atlantic oceans, the canal's chief told a maritime conference.The authority, which has an $8 billion investment plan…
Capacity reduction on the Panama Canal have hurt dry bulk market, with dry bulk carrier transits down significantly (down 74% in the Q1 '24 vs. '23, with sailing distances up 31% and cargo volume down 25% year on year, according to BIMCO shipping analyst Filipe Gouveia…
In response to the current and projected level of Gatun Lake, the Panama Canal Authority has announced, through Notice to Shipping Lines No. A-08-2024, that it will increase the number of daily slots available in the Panamax locks.Two additional…
The Panama Canal sees no need for further vessel transit restrictions until at least April, when its authority will evaluate water levels at the end of the dry season, Deputy Administrator Ilya Espino told Reuters.A severe drought last year…
As low water level continue to plaque the Panama Canal, shipowners and managers are paying the price in the form of longer hauls and higher fuel (and emissions) costs to deliver product to market.In one example, oil tanker Cururo is taking the…
Bulk grain shippers hauling crops from the U.S. Gulf Coast export hub to Asia are sailing longer routes and paying higher freight costs to avoid vessel congestion and record-high transit fees in the drought-hit Panama Canal, traders and analysts said…
Wabtec Corporation and Latin American Channel Partner, Marinsa International, signed a contract to supply the primary power for 10 new hybrid tractor tugboats for the Panama Canal Authority (ACP). Wabtec will deliver two 8L250MDA marine engines for each tugboat…
Daily ship crossings on the Panama Canal, one of the world's main maritime trade routes, will be reduced to 31 from 32 to soften the impact from a severe drought that is expected to last until next year, the authorities managing the canal said…
The Panama Canal expects to maintain restrictions on daily vessel transit and maximum draft for at least 10 more months amid a prolonged drought that has lowered the water level, an official from the waterway said on Thursday.The canal's authority earlier this year began imposing restrictions…
Before the Ever Max ship carrying lava lamps, sofas, Halloween costumes and artificial Christmas trees could make its inaugural Panama Canal voyage this month, a historic drought forced it to drop weight by offloading hundreds of containers…
The Panama Canal will impose lower draft restrictions on the largest ships passing through the key global trade route due to falling water levels at nearby lakes that form part of the waterway, the canal authority said on Tuesday.The restrictions…
For the fourth consecutive year, Fitch Ratings has affirmed the Panama Canal's 'A' investment grade rating with a stable outlook for its long-term issuer default rating and its senior unsecured notes.The credit rating agency noted that the Panama…