PANAMA CITY, Sept 25 (Reuters) - The Panama Canal Authority said it won an arbitration ruling on Friday for $265 million to be returned to it from the consortium that built a third set of locks for the key transoceanic waterway. The authority cited a decision from a Miami-based arbitration board it said was issued earlier on Friday. The GUPC consortium, which includes … [Read more...]
Panama Canal Launches Major New Water Management Project to Ensure Adequate Water Supply
The Panama Canal Authority has today published a request for qualifications from prospective contractors for the engineering, design and construction of a major new water management system in order to ensure adequate water supply for the critical waterway. The new project is the biggest investment since the expansion of the Panama Canal, which was completed in 2016. The … [Read more...]
COVID-19: Panama Canal Shipping Rebounds From Pandemic Lows
By Michael McDonald (Bloomberg) The Panama Canal is seeing signs of a rebound in global trade as ship transits recover from the depressed levels caused by the pandemic. Total transits through the waterway rose to 933 in July, from 845 in June, which was the fewest since the canal opened an expanded set of locks four years ago to accommodate bigger ships. Initial August … [Read more...]
Bulk Carrier Takes Out Railroad Bridge in Panama Canal
A bulk carrier transiting the Panama Canal took out the railroad bridge in Gamboa on Tuesday, causing major damage. The Panama Canal Authority said it is investigating the accident and that ship transits are not impacted by the incident. The railway bridge crosses the Chagres River in Gamboa, Panama. It is part of the Panama Canal Railway which parallels the Panama Canal … [Read more...]
Panama Canal Emerges from Dry Season Promising Steady Draft Reliability
The Panama Canal says water conservation measures have been successful in securing steady draft reliability for the next several months as the waterway continues to seek long-term measures to ensure water levels are maintained. After several years of below average rainfall, last year the Panama Canal experienced its fifth driest year in 70 years with rainfall just 20 percent … [Read more...]