• 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 June 24

18:05 Training Montenegro to combat oil spills
17:50 Four cruise ships visit the Port of Riga at the same time
17:27 Finnish Government proposes supplementary appropriation of EUR 40 million for basic infrastructure management
17:05 Austal delivers third guardian class patrol boat to the Australian Department of Defence
16:47 Incat Crowther announces contract to design a 65m catamaran passenger ferry
16:46 Construction and operation of dual-fuel ships has low economic efficiency – USC President
16:45 Maersk Drilling completes sale of jack-up Mærsk Giant
16:24 USC set to build floating electricity-generating facilities running on LNG supplied by bunkering ships
16:03 Van Oord and Mammoet enter into cooperation with scale-up Verton
15:45 United Shipbuilding Corporation to launch the first LNG-powered ferry for Ust-Luga – Baltijsk line in late July
15:30 United Shipbuilding Corporation establishes USC-Propulsion and USC-Interior subdivisions
15:03 MOL signs deal on a long-term charter contract to utilize "MOL FSRU Challenger" for Hong Kong Offshore LNG Terminal Project
14:42 New USC Vice-President, Civil Shipbuilding, to get into office on 10 July 2019
14:21 USC expects its Astrakhan cluster to build 12 river-sea class ships per year
14:03 Yang Ming announces new China-Thailand direct service
13:37 Port of Rotterdam Authority to collaborate with four new companies
13:25 Igor Vasilyev appointed as Acting General Director of FTI Rostransmodernizatsiya
13:02 ARIES gained ABS Certification: Middle East 1 st Remote Inspection Techniques specialist
12:20 BC Ferries releases year-end results
12:10 Keel laid for the first of Damen’s revolutionary new FCS 7011 Crew Change
11:56 Average wholesale prices for М-100 HFO down to RUB 15,377 in RF spot market
11:29 FESCO to launch new container train to China via Far East overland route
10:58 Southern Center of Shipbuilding and Ship Repair acquired property of Krasniye Barrikady plant
10:35 Satti floating drilling unit owned by Kazmortransflot delivered to Azerbaijan
10:13 Throughput of Chinese ports grew by 4.1% to 5.5 billion tonnes in Jan-May’2019
09:53 MABUX: Bunker Market this morning June, 24
09:52 Brent Crude futures price is up 0.4% to $64.71, Light Sweet Crude – up 0.68% to $57.82
09:34 Container throughput of port Hong Kong (China) down 7.7% to 7.55 million TEUs in Jan-May’2019
09:17 Baltic Dry Index is up to 1,239 points

2019 June 23

16:29 INPEX submits revised plan of development for Abadi LNG Project
15:13 Oceanwide Expeditions: Hondius sister ship m/v Janssonius ordered for 2021
14:19 CMA CGM announces FAK rates on Asia - Pakistan, India and Sri Lanka service
13:46 Coast Guard rescues five from capsized boat in Chesapeake Bay
12:43 Danske Commodities signs 20-year PPA with Hywind Scotland wind farm
10:29 TMC sets up office to support Chinese yards

2019 June 22

15:24 AAPA selects Christopher Connor as its new CEO
12:37 TMC contracted by VARD to supply marine compressors for Viking Cruises' vessels
11:23 ABS to class first ‘tri-fueled’ vessel for Harvey Gulf
10:13 Port of Oakland steps up as ships carry bigger loads than ever
10:05 Coast Guard responds to barge aground in Naknek, Alaska

2019 June 21

18:07 Austal gets Navy's modification to littoral combat ship contract
18:04 MODEC awarded Letter of Intent by Petrobras related to Búzios 5 FPSO
17:58 Frontline announces acquisition of VLCC resale and two LR2 newbuildings
17:56 BC Ferries adds extra sailings for the summer
17:55 Maritime Anti-Corruption Network to develop Global Port Integrity Index and Scale Up Collective Action in West Africa
17:37 Siemens Gamesa receives first offshore wind preferred supplier nomination in Japan: up to 455 MW for Obayashi Corporation
17:12 Krasnoye Sormovo launches final RSD59 ship in a series four units ordered by STLC
16:38 Ships of RF Navy’s Pacific Fleet involved in exercises in the Sea of Japan
16:26 Government of Canada enters into negotiations with Chantier Davie for construction of two ferries
16:14 Standic expands with state-of-the-art chemical storage terminal in Port of Antwerp
15:50 Klaipedos Nafta announced call for Chief Executive Officer
14:27 Safety management training takes centre stage
14:26 USCG says Polar Security Cutter to be homeported at Seattle
14:03 Maersk to offer customers carbon-neutral transport
13:35 LUKOIL’s dividends payable for 2018 will be RUB 250 per ordinary share
13:15 Anthony Veder expands fleet with taking in five gas carriers from GATX
13:12 HELCOM’s Executive Secretary to step down in August 2019
12:48 Novotrans acquired stevedoring company operating Ro-Ro ferry facility at the port of Ust-Luga
12:30 Samskip fine tunes multimodal network for post-Brexit hard choices
12:11 Matson christens first Kanaloa class Con-Ro vessel 'Lurline'