Tuesday, September 19, 2017

China to build Panama-David train

China to build Panama-David train

Panama seeks to evaluate with Communist China the possibility of building a train to David, revealed the vice president Isabel de Saint Malo.

China recently just released the new generation of Fuxing bullet trains, which run at 350 kilometers per hour. David is more than 400 kilometers from the capital city.

China's Foreign Minister Wang Yi is due to arrive in Panama to discuss 12 priority points set out in the new bilateral agenda, including tourism, trade and security.

Critica Panama

Monday, September 11, 2017

Moody's reaffirms A2 rating of the Panama Canal Authority with a stable outlook

Moody's reaffirms A2 rating of the Panama Canal Authority with a stable outlook

These bonds were qualified under equal conditions with the $ 2.3 billion loan granted by bilateral and multilateral institutions to finance the Panama Canal expansion program.

Moody's ratings confirmed with a stable outlook; its A2 rating assigned to the 20-year, $ 450 million senior unsecured bonds issued by the Panama Canal Authority (ACP).

The bonds were issued to partially finance the construction of the third bridge over the Atlantic Oceanway.

These bonds were qualified under equal conditions with the $ 2.3 billion loan granted by bilateral and multilateral institutions to finance the Panama Canal expansion program.

Moody's also upgraded the ACP's Base Credit Assessment (BCA) from A3 to A2, which reflects the successful operations of the expanded Canal to one year since its opening.

According to the qualifying company, the expanded Canal has captured more transits and tonnage and has allowed the development of new businesses and investments.

Thursday, August 31, 2017

New Record Set

 Photo by: Panama America
The CMA CGM Theodore Roosevelt is the largest buyer that has passed through the new locks of the Panama Canal, completing a trip between Asia and the east coast of the United States.

As it passed through the new locks, the ship established a new record of total allowed TEUs (20-foot containers) in the Panama Canal, with a mark of 14 thousand 863.

The ship is 365.96 meters long and 48.252 meters wide. To get an idea of ​​its dimensions, its size is similar to two pyramids of Giza, four Big Ben and eight Statues of Liberty.

Others of the new capacity dossier, the vessel took advantage of the environmental efficiencies of the channel expanded the saving 29 thousand 561 tonnes of CO2, compared with those that issued and followed the alternate route of the Cape of Good Hope.

He started his trip in Shanghai and will arrive at the ports on the east coast of the United States.

Tuesday, July 11, 2017

The Panama Canal does not foresee impact on its activity by diplomacy with China

The Panama Canal does not foresee impact on its activity by diplomacy with China

The Panama Canal does not foresee any change in transit activity after the Government established relations with China

The Panama Canal does not foresee "any change in transit activity" after the Panamanian government established diplomatic relations with China to the detriment of Taiwan, said Jorge Quijano, administrator of the interoceanic route.

"We do not see any changes necessarily in what is the transit activity, because the one that dictates the transit activity is not Panama, what dictates the transit through the Panama Canal is the demand," Quijano told reporters.

The behavior of water transit is more "related to the import that the US wants to have, which is our first user and is supplied in a large majority of China," which is the second customer of the waterway, he said.

"So trade exchange is the one we respond to here (and) we do not see that this (the relations of Panama and China) will bring any change in reality," added Quijano.

The president of Panama, Juan Carlos Varela, announced on Monday the establishment of relations with China and the break with Taiwan under the argument, among others, that the Asian giant is the second most important user of the Canal and the first supplier of the Zone Free of Columbus (ZLC), the largest in the hemisphere.

Taiwan immediately expressed its "indignation" over the turn of Panama, which he called "unfair act", as well as his "condemnation and repulse" for what he considers a Chinese attack on his international space, and announced the consequent withdrawal of everything The Taiwanese staff of the Central American country and the suspension of assistance and cooperation programs.

The diplomatic turn made by the Government of Varela has been welcomed in Panama, where private sector expectations point to the achievement of benefits for the country in terms of trade and investment in fields such as technology and logistics.

Quijano stressed Thursday that ACP maintains "excellent relations with all" its customers, including Chinese and Taiwanese shipping companies, and that these have been and will continue to be commercial.

"This is a neutral channel, here pass all the ships of the world is not restricted any, What we do demand is that they comply with all international regulations in addition to the special requirements" of the ACP on security and other fields, he added.

The Panama Canal, which accounts for about 6% of world trade, connects 144 sea routes that reach 1,700 ports in 160 countries.

Photo: La Estrella

Wednesday, July 5, 2017

Panama Canal Commemorates Anniversary of Expanded Canal

Panama Canal Commemorates Anniversary of Expanded Canal

On June 26, 2017 the Panama Canal commemorated the one-year anniversary of the inauguration of its Expanded Canal, one of the most significant milestones in the history of the 102-year old waterway and a defining moment for the people of Panama and the global maritime industry.

During the one-year anniversary, the vessels that have transited the Expanded Canal received commemorative plaques. The honored vessels included: Albert III, Ever Loading, Valparaiso Express, Yuhsho and CMA CGM Melisande.

“These transits are a testament to the global maritime industry’s confidence in the Expanded Canal,” said Panama Canal Administrator, Jorge L. Quijano. “The countless accomplishments set over the past year have surpassed even our own expectations for the project. We would like to thank everyone involved, from our customers to our highly-skilled employees, for their role in making this year such a great success.”

The Visitor
Over the past 12 months, the Expanded Canal’s performance has exceeded what was originally forecast, as global trade routes have been redrawn and its positive impact has been felt around the world.

The Panama Canal launched the Green Connection Environmental Recognition Program, a new initiative that recognizes customers who demonstrate excellent environmental stewardship and encourages others to implement technologies and standards that reduce emissions. This program includes the Environmental Premium Ranking and the Green Connection Award.

The Expanded Canal contributed to the reduction of 17 million tons of CO2 during its first year of operation thanks to the shorter traveling distance and larger cargo carrying capacity that it offers to customers.

Together, these activities have led to a ripple effect on local and global economies, positively impacting the international shipping industry as ports worldwide continue to invest in their infrastructure to accommodate the influx in Neopanamax traffic from the Expanded Canal. Investment has been particularly prevalent among U.S. East Coast ports, which have experienced strong growth and broken cargo records, providing a boost to their local economies.

Wednesday, June 7, 2017

Ship pays more than $ 1 million for its passage through the Panama Canal

 Ship pays more than $ 1 million for its passage through the Panama Canal

The container vessel OOCL France yesterday became the vessel of greater capacity and size in transit the new locks since its opening last June.

With a capacity of 13,208 TEU (containers of 20 feet), the vessel paid in toll about $ 1 million 84 thousand.

The previous record was set by Cosco Development last May 2 with 13,092 TEU capacity.

The Panama Canal delivered to OOCL France the Green Connection Award that recognizes ships that comply with environmental efficiency standards, since when using the Canal route, the vessel is reducing between 5,000 and 26 thousand tons of CO2 in comparison with Conventional routes that existed before the enlarged Canal.

To date, 1,360 neopanamax vessels have used the expanded Canal since its opening last June.

43.8% of transits correspond to container ships, 29% of liquefied petroleum gas and 8.1% of liquefied natural gas.