By Jessica Shankleman (Bloomberg) -- Fresh from a $5.25 billion, nine-year expansion that’s upending decades-old trade routes, it turns out the Panama Canal is also doing a little good for the planet. By offering a short-cut to deliver billions of dollars of Asian-made goods to America’s East Coast ports, the waterway has helped its shipping company customers to … [Read more...]
Expanded Panama Canal Marks One Year Since Opening
The Panama Canal is marking the one-year anniversary of the inauguration of the new Expanded Canal, describing the milestone as one of the most significant events in the waterway's 102-year history and a defining moment for the people of Panama and the global maritime industry. Over the past 12 months, the Expanded Canal’s performance has exceeded what was originally … [Read more...]
Southern U.S. Ports Break Records One Year After Panama Canal Expansion
By Rebecca Spalding (Bloomberg) -- Southern ports are experiencing a record foreign trade boom thanks in part to an expanded Panama Canal that permits Asian cargo ships to reach them more easily. Georgia Ports Authority and the Port of Virginia, which include the nation’s fourth and fifth largest ranked by volume, respectively, each moved the most cargo they have ever … [Read more...]
New LNG Tank Designed for Panama Canal Transits Receives Class Approval in Principle
Internatinoal classification society DNV GL has awarded Kawasaki Heavy Industries of Japan an Approval in Principle (AiP) for a newly developed non-spherical (MOSS) tank designed for use in liquified natural gas carriers using the Expanded Panama Canal. The new tank is an IMO Independent Type B LNG tank developed for use in 180,000 cubic meter LNG carriers. KHI says that … [Read more...]
Panama Canal Proposes Changes to Toll Structure
Tthe Panama Canal Authority (ACP) has published a proposal for modifications to its current toll structure that it says will allow the waterway to continue providing competitive service to customers. The proposal signals the beginning of a 30-day formal consultation period for industry feedback. During the past few months, Panama Canal Administrator Jorge L. Quijano and … [Read more...]
Charleston Harbor Deepening Work to Kickoff With $17.5 Million in USACE Funding
South Carolina Ports' project to deepen Charleston Harbor to 52 feet has received the funding needed to begin construction as planned this fall, the port authority said Thursday. In the U.S. Army Corps of Engineers (USACE) Fiscal Year 17 Work Plan released today, the Charleston Harbor Deepening Project was named one of six "new starts" and allocated $17.5 million in … [Read more...]
Containership’s Transit Sets New Panama Canal Record
The OOCL France has set a new record as the largest ship to transit the Expanded Panama Canal since its inauguration nearly one year ago. The new record comes less than a month after the COSCO Development became the first 13,000 TEU containership to use the expanded waterway. The vessel went on to set the soon-to-be-broken record as the largest containership to visit … [Read more...]