The Panama Canal Expansion Program is nearing completion with the construction of the Third Set of Locks reaching 90% completion this month.
The Panama Canal Expansion Program will create a new lane of traffic along the Canal through the construction of a new set of locks, increasing the waterway’s capacity. The new locks will have three chambers, water-saving basins, lateral filling and emptying system and rolling gates. Here’s an update on the project from the Panama Canal Authority:
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Panama on Monday published in its official gazette a Supreme Court ruling canceling key port contracts held by a subsidiary of CK Hutchison, clearing the way for Maersk's APM Terminals to take over temporarily.
Hong Kong-based CK Hutchison has escalated a legal fight over its Panama Canal port concessions, triggering treaty arbitration and raising uncertainty over operations at the Balboa and Cristobal terminals as Panama advances plans for a forced transition.
Panama’s top court has ruled that the contract granted to Li Ka-shing’s CK Hutchison Holdings Ltd. to operate two ports near the Panama canal is unconstitutional, delivering a win for Donald Trump’s drive to rein in China’s control of strategic infrastructure in Latin America.
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