Tag: Panama Canal Expansion

PGI Intelligence examines the safety concerns raised with the new expanded Panama Canal which could lead to accidents and delays for shippers and higher claims for insurers. The company says that structural issues relating to the new locks could also threaten the long-term integrity of the project and risk new delays.

Ever Lambent, an 8,452 TEU containership owned by the Evergreen Group, passed through the expanded Panama Canal on the ninth of July (Panama time), marking a new era for Evergreen Line’s all-water services connecting the Far East with the US East Coast.

International Maritime Organization (IMO) highlighted the Panama Canal Expansion and the effect it will have on the reduction of CO2 emissions, contributing to the Marine Environment Protection Committee's work to prevent and control ship pollution globally.

The newly expanded Panama Canal will be able to accommodate 90% of the world's current liquefied natural gas (LNG) tankers with LNG-carrying capacity up to 3.9 billion cubic feet (Bcf).

Bunker company Monjasa provides five insights to explain how the expanded Panama Canal affects the local bunker industry as it is anticipated an increased number of Post-Panamax container ships, Capesize dry cargo vessels and specialised large scale gas carriers to pass through the new locks

On June 27, the expanded Panama Canal opened for commercial transit, and Lycaste Peace, a very large LPG carrier operated by NYK, was the first vessel to complete a commercial passage through the new locks.

Maersk Line welcomes the expansion of the Panama Canal and the advantages it entails for global trade. In 2016, Maersk Line is expecting to perform more than 400 vessel transits through the Canal whilst carrying more than 400,000 containers.

The $5 billion project of Panama’s waterway expansion officially opened, when the first vessel officially sailed through on Sunday, June 26. The Neopanamax vessel made the inaugural transit of the Expanded Panama Canal after a 14-day journey.

The Panama Canal Authority (ACP) has announced new tariffs for tug and line handler services for the neopanamax locks. Recenlty, ACP conducted another successful trial transit of the Expanded Canal, maneuvering a vessel through the Pacific-facing Cocoli Locks. Inauguration of the expanded Canal will take place on Sunday, 26 June with the transit of the COSCO Shipping Panama.