• 2018 June 27 11:30

    Expanded Panama Canal commemorates two year anniversary

    The Panama Canal marked the two-year anniversary of the inauguration of its Canal Expansion, the largest enhancement project in the waterway's 103-year history. To date, the Canal has transited 3,745 Neopanamax vessels, traffic that confirms the route's efficiency and the maritime industry's confidence in the Expanded Canal, the company said in its press release.

    The performance of the Expanded Canal's Neopanamax Locks continues to exceed expectations. Over the past two years, the route has recorded notable milestones such as:

     Setting a new monthly tonnage record of 38.1 million tons (PC/UMS) in May 2018, the third such time the waterway has set a monthly tonnage record in the past two years.

     The transit of the Canal's largest cruise ship to date, the Norwegian Bliss, weighing more than 168,000 gross tons and carrying nearly 5,000 passengers.

     Recording year-on-year growth, in terms of number of transits and total cargo volumes.

     The transit of the largest capacity container vessel to-date, the CMA CGM Theodore Roosevelt, with a Total TEU Allowance (TTA) of 14,863.

    Increased experience with the Neopanamax Locks and continued investment into its operations have allowed the waterway to provide additional capacity, flexibility and efficiency to shippers. Such recent offerings include:

     Two additional reservation slots for the Neopanamax Locks, bringing the total number of slots from six (at the time of the inauguration) to eight, and giving shippers greater flexibility and options for booking their desired transit dates.

     An increase in maximum allowable beam for vessels transiting the Neopanamax Locks, accommodating larger vessels and greater tonnage.

     An increase in the maximum allowable draft for transiting the Neopanamax Locks to 14.33 meters (47.0 feet) Tropical Fresh Water (TFW).

    The impact of the Neopanamax Locks is demonstrated across all segments, though perhaps in no segment more than LNG, which has emerged as the waterway's fastest growing. In just the past two years, this segment has seen:

     A total of 358 LNG transits since June 26, 2016.

     The transit of three LNG vessels in one day in April 2018.

     Offering one of the eight Neopanamax reservation slots per day to LNG shippers, but transiting two LNG vessels in one day on 14 separate occasions.

     The transit of the first-ever shipment of LNG from the Dominion Cove Point terminal in Maryland to Japan on April 28, 2018.

    Moving forward, the Canal's LNG traffic is expected to grow by 50 percent by the end of FY 2018 compared to FY 2017, increasing from 163 to approximately 244 transits, for which the Panama Canal stands ready to receive.

    "The Expanded Canal is redrawing global trade routes, in the LNG industry and across segments, as shippers have more opportunity to take advantage of the economies of scale provided with the Neopanamax Locks," said Deputy Administrator Manuel E. Benitez. "Thanks to the careful planning and strategic optimization of our operations, we're confident the Expanded Canal will facilitate further growth in international trade and have a far-reaching impact in communities around the world."

    With this anniversary, the Canal also reaffirms its commitment to environmental sustainability, prioritizing water savings and reducing our carbon footprint. In the two years of the Neopanamax Locks' operations, the waterway has recycled 60 percent of the water used per transit and is on track to reduce an estimated 160 million tons of carbon dioxide emissions over the next 10 years.

    This week, Deputy Administrator Benitez joins Silvia de Marucci, Executive Manager, Economic Analysis and Market Research Division, in Washington, D.C. for the 27th World Gas Conference. While at the Conference, which is being hosted in the United States for the first time in 30 years, Mr. Benitez and Ms. de Marucci will discuss the landmark two-year anniversary and the waterway's growing relationship with LNG and the energy industry.

    About the Panama Canal Authority
    The Panama Canal is run by an autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the Panama Canal Authority (ACP) is based on its organic law and the regulations approved by its Board of Directors.

    About the Panama Canal Expansion
    The Panama Canal Expansion is the largest enhancement project since the Canal's opening in 1914. Considered and analyzed for a decade with more than 100 studies, the Expanded Canal provides the world's shippers, retailers, manufacturers and consumers with greater shipping options, better maritime service, enhanced logistics and supply-chain reliability. The Expansion included the construction of a new set of locks on the Atlantic and Pacific sides of the waterway, creating a third lane of traffic and doubling the cargo capacity of the waterway. While the expanded locks are 70 feet wider and 18 feet deeper than those in the original Canal, they use less water due to water-savings basins that recycle 60 percent of the water used per transit. In line with its commitment to customer service, the Panama Canal will continue to provide the world with value for another century and beyond.




2019 September 18

18:26 SGRE confirmed member of the Dow Jones Sustainability Indices in 2019
18:03 MOL repays existing loans through issuance of project bond for FPSO charter project
17:48 Russia’s Rosmorrechflot and Ministry of Industry and Trade develop preferential leasing programme
17:30 Vympel DB develops concept design for Arctic cruise ship
17:22 Metal Shark delivers new foil-assisted catamaran excursion vessel to Pure Florida
17:11 US Coast Guard shifts response efforts in Bahamas
17:03 ECSA considers the European State Aid Guidelines for maritime transport highly successful and key to maintaining a strong European shipping sector
16:39 Vigor hosts keel-laying ceremony for the U.S. landing craft MSV(L)
16:21 Vitol announces long-term LNG time charter contract with H-Line
16:03 Despite some positive indicators, concerns remain for offshore energy underwriters, reports IUMI
15:42 Wärtsilä Denmark joins Digitalisation in Shipping: Europe 2019 as Associate Partner
15:24 USCG ends search for migrants of capsized vessel off Martinica Beach
15:03 GTT receives an order from HHI & SHI for the tank design of six Very Large Ethane Carriers
14:50 FSUE Atomflot develops project on construction of 7MW icebreaking tugboat
14:33 Hapag-Lloyd to increase rates from North East Asia to Australia
14:16 Wärtsilä simulators provide advanced training at newly inaugurated Portuguese facility
14:14 Ørsted contracts Van Oord for cable installation at Greater Changhua offshore wind farms
14:12 GTT obtains Approval in Principle for Arc7 ice class ships from Russian Maritime Register of Shipping
14:03 ABS and Samsung Heavy Industries sign digital technology
14:00 SAAM Towage contracts Damen for delivery of tug vessel
13:31 Discussion “Development of recreational crafts and high-speed passenger vessels” begins at Neva 2019
13:10 Wärtsilä launches the Wärtsilä 31SG pure gas engine for marine market applications
13:04 International Association of Ports and Harbors visited by ICHCA representatives
12:38 RS issues Approval in Principle for new GTT’s LNG containment systems
12:03 LR awards Jiangnan AiP for 91,000 m3 VLGC Panda 91T design.
11:49 ADNOC acquires 10% of VTTI
11:30 LNG-fueled tugboat Ishin undergoes 1st LNG bunkering trial in Port of Kobe
11:02 ABS and Samsung Heavy Industries to develop next generation LNG carrier
10:37 Training underway for Jeddah Maritime Information Sharing Centre
10:21 Panama Canal signs agreement with Port of Rotterdam
10:12 TGS announces strategic milestones to accelerate growth
09:44 Brent Crude futures price is down 0.09% to $64.49, Light Sweet Crude – down 0.44% to $59.08
09:15 Baltic Dry Index is down to 2,283 points
08:56 MABUX: Bunker Market this morning, Sept 18

2019 September 17

19:06 Rosmorrechflot’s shipbuilding order for coming six years foresees construction of 147 vessels
18:29 Lead chemical carrier of Project 00216М named PortNews after our agency
18:05 MPC Capital and ZEABORN strengthen HARPER PETERSEN by combining their shipbroking activities
17:24 MOL issues integrated 'MOL Report 2019'
16:35 Eagle Bulk Shipping takes delivery of M/V Sydney Eagle
16:02 CMA CGM and TFG launch Rhine valley rail to German hinterland
15:30 CMA CGM announces FAK rates from North Europe to New Zealand
15:02 Sembcorp Marine’s Brazilian shipyard completes Petrobras P-68 FPSO
14:56 CMA CGM strengthens its intra-European and Mediterranean offer with the launch of the Black Sea Marmara Morocco service
14:10 Hapag-Lloyd announces General Rate Increase for Trans-Pacific eastbound
13:10 Zadar Cruise Port is Port of the Year 2019
12:10 Port of Oakland refrigerated exports jump 20 percent in past year
11:51 Combined Task Force Commanders discussed their shared aims and goals in tackling the threat of piracy
11:34 Lars Thrane makes its Iridium Certus® debut with the LT-4200 maritime satcom system
11:22 Belfast Harbour reveals ambitious growth plans
11:00 Marine cargo market characterised by “accelerating change” as underwriters take action to address continuing unprofitability, says IUMI
10:34 Safety at Sea and BIMCO publish cyber security white paper
10:27 ABS and Keppel partner in developing the first two new build Drilling Rigs with Smart Notations
09:43 Greenland research vessel picks MAN hybrid propulsion package
09:32 Brent Crude futures price is down 0.87% to $68.42, Light Sweet Crude – down 1.24% to $61.89
09:16 Baltic Dry Index is down to 2,311 points
08:56 MABUX: Bunker market this morning, Sept 17

2019 September 16

18:04 Ports draw $5B investment, 12K jobs to Georgia
17:59 GOGL increases investment in Singapore Marine
17:50 Pella launched first serial trawler of Project 03095, Castor
17:25 Tenders on pilot projects for stevedoring company concessions in Olvia and Kherson ports officially announced