Moderators Moderator_02 Posted January 24, 2018 Moderators Share Posted January 24, 2018 Quote Moody’s gives Canal expansion thumbs up Posted on January 23, 2018 in Business, Panama, Panama Post Views: 274 MEXICO January 22, – Eighteen months after the expansion of the Panama Canal began to operate, its performance exceeded expectations. According to a new Moody’s Investors Service report, the total tonnage of the channel increased 22% in fiscal year 2017 (from October 2016 to September 2017), as its capacity more than doubled, with a clear positive credit impact. The performance of the Panama Canal Authority (ACP, A2 stable) exceeded the projections, with an increase of 15% of revenues in fiscal year 2017, which resulted in financial indicators stronger than expected. “Solid performance will have a domino effect on US ports and cargo ships, and international trade will further benefit the channel,” says Adrián Garza, Vice President and Senior Analyst at Moody’s. The ACP expects revenues to exceed $ 3 billion for fiscal year 2018. Thanks to its strong performance, the ACP registers better-than-expected financial indicators, which supports its high credit quality. The tonnage of cargo that crossed the channel reached a record of 402.8 million CP / SUAB (volume measurement of the Universal System of Ship Arcing of the Panama Canal) in fiscal year 2017, the largest annual tonnage in history and 22% higher than the previous year. This increase is also significant given that the tonnage of the ACP was relatively stable over the last 10 years, with a compound annual growth rate of 1%. LPG carrier passing through canal The channel also benefits from growth in certain business segments thanks to the new locks. Liquefied petroleum gas (LPG) grew 147% and represented 7% of the total tonnage in fiscal year 2017 compared to 4% in 2016. LPG accounted for 4% of total tonnage, compared to 0.5% the previous year. Challenges For Moody’s, although there are still challenges, including the legal dispute related to the expansion, the ACP’s solid financial position partially compensates for these challenges. http://www.newsroompanama.com/business/panama-4/moodys-gives-canal-expansion-thumbs Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 13, 2018 Author Moderators Share Posted May 13, 2018 Quote Huge cruise Norwegian Bliss will transit through the Panama Canal Sat, 05/12/2018 - 20:25 The cruise Norwegian Bliss, the current largest ship with a capacity to transport passengers, will transit next Monday through the new locks of the Panama Canal, said the administration of the waterway. The Norwegian Bliss has 168,800 gross tons with a capacity to carry 5,000 passengers, "which represents a new record of transit through the new locks," the Panama Canal Authority (ACP) said in a statement. Among the novelties of the Norwegian Bliss, the ACP detailed that it has a total length of 325.9 meters (1,069.2 feet), sleeve 41.4 meters (135.8 feet) and draft of 8.3 meters (27.2 feet). It is also the third ship of the Breakaway Plus class of the Norwegian Cruise Line (NCL). The first two are the Norwegian Escape and the Norwegian Joy. Built by Meyer Werft in Germany, the Breakaway Plus class boats feature innovatively designed interiors, luxurious cabins and world-class amenities that surpass NCL's existing fleet of cruisers. The new ships are almost 10 percent larger than those of the Breakaway class, and also have innovative technology. The cruise also has a race track for two-floor electric cars (the largest in the sea). The Norwegian Bliss sailed from the German shipyard Meyer Werft in March, to begin a 15-day itinerary this month, sailing from Miami, Florida, then crossing the Panama Canal and along the west coast of North and Central America, until arriving to its final destination in the Port of Los Angeles, in California. The ship will then serve the Alaska region until the end of the cruise season, after which it will re-position in the Caribbean. Another novelty that stands out is the outdoor laser combat circuit, set in an abandoned space station, a different place aboard a cruise ship that will be open both day and night. It also has a large pool and solarium area, as well as a water park with two multi-storey water slides. The expansion of the Canal, which took place between 2007 and 2016, with an initial cost of 5,250 million dollars, allows the passage of Neopanamax ships with a capacity of up to 13,000 containers, almost three times those ships that go through the operational route since 1914. Through this route and the old locks, inaugurated in 1914, about 14,000 ships pass annually around 6 percent of world trade, generating revenues of more than 2,000 million dollars a year on the route. Almost half of this income is for the Panamanian Treasury. http://www.panamatoday.com/panama/huge-cruise-norwegian-bliss-will-transit-through-panama-canal-6836 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 13, 2018 Author Moderators Share Posted May 13, 2018 For those interested in this ship, it is enormous. Passenger capacity is 3,990, and that number does not include crew, staff, entertainment, etc., of 2,100. It reportedly has a go-kart track on it (not sure how that would work in rough seas?!). Seafaring aficionados may want to visit the canal during this transit because it should be a sight to see, assuming you can get to the viewing areas. Norwegian Bliss went into operation on April 21, 2018. Click Here for a Wikipedia article about Norwegian Bliss Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted May 14, 2018 Share Posted May 14, 2018 (edited) This is a video clip of the beast going through the locks at Agua Clara this morning. Edited May 14, 2018 by Keith Woolford Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 16, 2018 Author Moderators Share Posted May 16, 2018 Quote Panama Canal adds new milestone with the passage of a luxury megacourse Tue, 05/15/2018 - 08:35 The cruise Norwegian Bliss, with a capacity for 5,000 passengers, crossed the expansion of the Panama Canal on Monday and marked a new milestone for the interoceanic route, since it is the largest ship of this type that has traveled through its waters in its history. The Norwegian Bliss is "the largest passenger ship that has traveled the interoceanic way. It has a total length of 325.9 (1,069.2 feet) meters width, sleeve 41.4 (135.8 feet) meters and an 8.3 meter (27.2 feet) draft", said the Panama Canal Authority (ACP). The vessel, operated by Norwegian Cruise Lines (NCL) and whose weight exceeds 168,000 gross tons, entered first in the morning through the locks of Agua Clara, on the Atlantic side. The cruise started the trip in Miami and after crossing the canal it will visit the east coast of Central America and Mexico, until it reaches its final destination in Los Angeles, California, said the ACP. The Norwegian Bliss is one of the last passenger vessels that will cross the channel in the cruise season 2017-2018, which officially ends on May 24 with the passage of the Pacific Princess, explained the water route. "By the end of the cruise season, a total of 248 passenger vessels with a total of 312,304 passengers on board will have traveled through the Panama Canal," the Albano Aguilar international trade specialist said. With the closing of the season "renowned cruise lines such as Princess Cruises, Holland America Line, Royal Caribbean Cruises and Norwegian Cruise Line, among others, maintain their proposal to offer itineraries for full transits and partial transits that include Panama and, in particular, the interoceanic route, "the official information added. The expansion, whose cost already exceeds 5,600 million dollars and was inaugurated in June 2016, was built precisely so that the so-called neopanamax could cross the canal, which has the capacity to carry up to 14,000 containers. Container transport remains the main business of the water route, but the new locks have allowed the canal to open to other products, such as liquefied natural gas (LNG) or large cruise ships. For the channel, built by the US at the beginning of the last century and transferred to Panama on December 31, 1999, it passes close to 6 percent of world trade and connects more than 140 maritime routes and 1,700 ports in 160 different countries. http://www.panamatoday.com/panama/panama-canal-adds-new-milestone-passage-luxury-megacourse-6847 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 17, 2018 Author Moderators Share Posted May 17, 2018 Quote 5000 passenger cruise ship transits canal Posted on May 16, 2018 in Panama Post Views: 136 5000 passenger cruise ship transits canal THE CRUISE Ship, Norwegian Bliss, with a capacity of 5,000 passengers on Tuesday, May 15 . became the largest passenger vessel to pass through The Panama Canal., some 248 vessels with 312,304 passengers on board will have traveled through this inter-oceanic route by the closure of the 2017-2018 cruise season on May 24 Norwegian Bliss, entered through the Agua Clara locks in Colon. The vessel is 325.9 meters of aa (1,069.2 ft) long with a beam 41.4 m (135.8 ft) and a draft of 8.3 m (27.2 ft). Among its attractions are a race track for electric cars, an outdoor laser combat circuit; In addition to a large pool area, a solarium, and a water park with two water slides of several decks The 2017-2018, cruise season ends on the next 24, with the northbound transit of the Pacific Princess From January to December 2017, 13,666 ships passed through the interoceanic route, 5.0% higher than in 2016, when 13,015 ships passed, according to data from the Institute of Statistics and Census (INEC). http://www.newsroompanama.com/news/panama/5000-passenger-cruise-ship-transits-canal Quote Link to comment Share on other sites More sharing options...
Penny Posted May 17, 2018 Share Posted May 17, 2018 I remember going on a cruise on the Norwegian ship named "The Norway" which (at the time) was the biggest passenger cruise ship in the world. It held 2000 passengers and the thought was that they would never build a bigger ship. Now, we have one that carries 5000 passengers. Twice the size of the town I grew up in. Amazing !!! Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted June 27, 2018 Author Moderators Share Posted June 27, 2018 Quote Panama Canal expansion sets records of more than 3,700 transits in two years Tue, 06/26/2018 - 21:00 3,745 Neopanamax ships have transited through the Panama Canal expansion since the new locks were opened two years ago today, which demonstrates "the efficiency of the route and the confidence built by the maritime industry," said the administration of the interoceanic route. The Panama Canal Authority (ACP), the autonomous agency responsible for the route, said Tuesday in a statement that the first two years of operation of the canal expansion have been "successful", especially for the good performance of container ships, as well as liquefied petroleum gas (LPG) and liquefied natural gas (LNG) ships. The new locks, built by a consortium led by the Spanish firm Sacyr and whose cost already exceeds 5,600 million dollars, allow the transit of much larger ships, the so-called neopanamax, which have the capacity to carry around 14,000 containers and transport gas. "Possibly the most striking part in these two years may be that we are handling a new customer with liquefied natural gas vessels, which before July 2016 had never traveled through the canal," said the administrator of the route Jorge Luis Quijano. The methane tankers of liquefied natural gas, a rising product in the United States thanks to the so-called oil shale, in the past could not pass through the old canal due to its large size. "Last year, the liquefied natural gas load that passed through the canal was between five and six million tons, 80% of it came from the United States, and the transit of liquefied petroleum gas has tripled, being another important income source for the waterway," said the administrator of the route in the same statement. The new locks have also allowed the transit of large cruise ships. The Norwegian Bliss, a cruise ship with capacity for 5,000 passengers, became on May 14 the largest ship to transit the canal in its history, said the administrator of the route. The canal, built by the US at the beginning of the last century and transferred to Panama on December 31, 1999, allows the passage of close to 6 percent of world trade and connects more than 140 sea routes and 1,700 ports in 160 different countries. http://www.panamatoday.com/panama/panama-canal-expansion-sets-records-more-3700-transits-two-years-7188 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted June 27, 2018 Author Moderators Share Posted June 27, 2018 Quote Panama Canal achieves new record in May and exceeds 38 million tons Wed, 06/06/2018 - 19:56 The Panama Canal reported today that it achieved a new tonnage record last May, when a total of 1,231 vessels crossed the water route with 38.1 million tons of CP/ SUAB. "This new historic milestone is further proof of the continued confidence of the maritime industry in the Panama Canal and the impact it will have on the future of global maritime trade," said interoceanic waterway administrator Jorge Luis Quijano. The Panama Canal Authority (ACP), the autonomous entity that manages the route, said in a statement that the segment that contributed the most to this new brand was container ships, since they accounted for 36 percent of the total vessels that crossed the road and transported 13.8 million tons of CP / SUAB. The institution recalled that the previous tonnage record was established in January 2017, when 1,260 vessels crossed the line with 36.1 million tons of CP / SUAB. June 26 marks two years since the inauguration of the expansion of the Panama Canal, which was built so that the so-called neopanamax could cross the Canal, which can carry up to 14,000 containers. "After almost two years of its inauguration, the expanded Canal has received around 3,800 neopanamax vessels, of which about 50 percent corresponds to container ships," the ACP said. Container transport continues to be the main business of the water route, but the new locks have allowed the Canal to open to other products, such as liquefied natural gas (LNG) or large cruise ships. Through the canal, built by the US at the beginning of the last century and transferred to Panama on December 31, 1999, close to 6 percent of world trade passes and more than 140 maritime routes and 1,700 ports in 160 different countries are connected http://www.panamatoday.com/economy/panama-canal-achieves-new-record-may-and-exceeds-38-million-tons-6999 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted July 30, 2018 Author Moderators Share Posted July 30, 2018 Quote New locks mark transit #4,000 Posted on July 29, 2018 in Panama Post Views: 78 The passage of the LNG Maria Energy, through the expanded Panama Canal locks on Sunday, July 29, marked the 4000th neopanamax transit since the $5.6 billion project was completed two years ago. The expansion of the Canal, through which passes about 6 percent of world trade, began in 2007 with a target cost of $5.25 billion. an amount that has risen by at least $373.3 million for the payment of claims to contractors of The United for the Canal Group (GUPC), led by the Spanish Sacyr and integrated with Impregilo (Italy), Jan De Nul (Belgium) and CUSA (Panama), The ACP presented an operating budget for the 2018-2019 fiscal year amounting to $3,239.5 billion, higher than the current $3,037.5 billion. The Authority foresees direct contributions to the National Treasury of $1,736 billion $77 million more than the current calculation. http://www.newsroompanama.com/news/panama/new-locks-mark-transit-4000 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 30, 2018 Author Moderators Share Posted August 30, 2018 Quote Fitch reaffirms A rating for debt and bonds of the Panama Canal Wed, 08/29/2018 - 16:15 The Panama Canal Authority (ACP) reported today that the rating agency Fitch Ratings reaffirmed for the third year the "A" rating, with a stable outlook, for long-term debt and the interoceanic route bonds. Fitch "highlights the stable performance in terms of volume (load), solid competitive position and well-diversified cargo mix of the Canal, which makes the profile of the ACP exhibit high levels of resilience," the Administration said in a public statement this Wednesday. The rating agency also "highlights the strategic role of the Canal in international trade flow due to its ability to offer connectivity to global maritime trade, adding value as the main transshipment center in the region," according to official information. Fitch Ratings notes the ACP's "extraordinary legal framework," which contributes to its institutional, operational and financial autonomy, "as well as its expectation that" the Canal will continue to be administered under the same legal framework, which adequately mitigates the risk of any external interference". The agency mentions the "strategic importance of global maritime transport, the extraordinary legal framework and the existence of appropriate incentives to keep the asset profitable in the long term," the ACP reported. The administration of the interoceanic route, where about 6 percent of world trade passes, recalled that in July the rating agency "Standard & Poor's (S&P) Global Ratings improved from 'stable' to 'positive' the outlook of the Panama Canal and reaffirmed the 'A-'rating, (investment grade) maintaining it, again, two steps above the rating of the sovereign." The Canal joins more than 140 maritime routes and 1,700 ports in 160 different countries. It implemented in June 2016 its first expansion, a monumental work with a cost of at least 5,600 million dollars, consisting of a new lane to make way for the Neopanamax, ships with up to triple the load capacity of those who pass by the locks in operation since 1914. https://www.panamatoday.com/panama/fitch-reaffirms-rating-debt-and-bonds-panama-canal-7707 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted December 15, 2018 Author Moderators Share Posted December 15, 2018 Quote Moody’s confirms Canal’s high rating Posted on December 14, 2018 in Business Post Views: 112 Moody’s rating agency on Friday, December 14 confirmed The Panama Canal Authority (ACP) A2 rating based on its business model, its advantage as an infrastructure in a unique geographical location, as well as operational and financial performance. which is expected to continue thanks to the expansion. According to the agency, thanks to the expanded Channel, the interoceanic route has captured more transits and tonnage, which has allowed it to develop new businesses and investments. Moody’s adds that one of the strengths of the ACP is its ” clear legal and institutional framework,” which supports a reliable and stable operating environment. https://www.newsroompanama.com/business/moodys-confirms-canals-high-rating Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 16, 2019 Author Moderators Share Posted May 16, 2019 Quote New record for container ship Canal transit Posted 15/05/2019 A new record of containers shipped on a vessel transiting the Panama Canal since the expanded locks were opened in June 2016 was set on Wednesday, May 15. The container ship Triton from the Evergreen shipping company established the record of total TEUs (20 feet containers) allowed in the Panama Canal, with 15,313. The ship measures 51.2 meters of beam and 369 meters length and transited from the Pacific Ocean to the Atlantic Ocean. "We are excited about the opportunities provided by the Triton transit test," said Panama Canal Administrator Jorge Luis Quijano. Wednesday's traffic exceeded the 15,000 TEUs mark by setting a record in terms of maximum container capacity for the Panama Canal, "he said. “Like the transit of the Q-Flex ship last Sunday, today's achievement was possible thanks to the increase in the maximum beam allowed for ships using the neopanamax locks. As of June 2018, the Canal will increase the beam from 49 meters to 51.25 meters due to the training and experience acquired by the team during the operation of the neopanamax locks for in almost three years. This expertise, coupled with close collaboration with the client, also contributed to the interoceanic route could receive the transit on Wednesday, despite the ship exceeds the maximum length of 366 meters of the neopanamax locks. "The milestone marks a new era for container ships in the expanded Canal. We hope to continue collaborating on similar opportunities in the future, since the line services of container ships continue to redirect and consolidate the cargo in larger vessels, "said the specialist in International Trade of the Panama Canal, Argelis Moreno de Ducreux. The Triton is located within the Evergreen Far East - East Coast of the United States (AUE) service as part of the OCEAN Alliance network, which connects the ports of Asia and the East Coast of the United States through the Panama Canal. The AUE service consists of 11 vessels that vary in size, from 8,000 to 14,000 TEUs. The Alliance includes China COSCO Shipping, Orient Overseas Container Lines (OOCL), CMA CGM Group and Evergreen, which are among the largest customers by volume of the Canal. Previous record The record for the longest container ship to transit the Canal by capacity was established on August 22, 2017, by CMA CGM Theodore Roosevelt, which measures 365.96 meters in length and 48,252 meters of beam and a total of TEUs allowed in the Canal of Panama of 14,863. Of the 6,000 Neopanamax vessels that have transited to date, close to 50% have been in the container ship segment. https://www.newsroompanama.com/business/new-record-for-container-ship-canal-transit Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted January 16, 2021 Author Moderators Share Posted January 16, 2021 Quote Canal - more tonnage less transits Posted 15/01/2021 Transits, were down but more cargo passed through the Panama Canal in the first quarter of the fiscal year 2021 (October, November, and December 2020) compared with the same period the previous year. 134 million tons were transported in those three months, compared to 133 million the previous year, the transits had a decrease of 155 ships. 3,261 transits were registered against 3, 416 transits in the first quarter of the previous year. https://www.newsroompanama.com/business/canal-more-tonnage-less-transits-1 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 16, 2021 Author Moderators Share Posted August 16, 2021 Quote PANAMA CANAL: over 1.1 million transits in 107 years Posted 15/08/2021 Since its inauguration on August 15, 1914, the Panama Canal has served as a shortcut for more than 1.1 million transits, reducing distance, time and costs in the transportation of goods. Since the transfer of the Canal to Panamanian hands, it has promoted the development of the country, operating as a profitable and sustainable organization in the face of changing conditions in today's world says the Panama Canal Authority (ACP). The ACP highlights that the “Green Route” has contributed to reducing more than 830 million tons of carbon dioxide (CO2), by allowing ships to save fuel by crossing a shorter sea lane and moving greater volumes of cargo from the start-up of the expanded Canal, in June 2016. The Panama Canal is expected to be a carbon-neutral organization by 2030. " The world is demanding that companies offer services and products that have a very low carbon footprint, so we are going to make investments to adapt to that reality, in line with our environmental tradition, " said the administrator of the Panama Canal, Ricaurte Vasquez Morales. https://www.newsroompanama.com/business/panama-canal-over-11-million-transits-in-107-years Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted October 29, 2021 Moderators Share Posted October 29, 2021 Quote Panama Canal transits recorde tonnage Posted 29/10/2021 The Panama Canal Authority (ACP) reported on Thursday, October 28, a record tonnage, exceeding by 10% what was achieved in 2019. Fiscal year 2021 closed with an annual record of 516.7 million tons CP / UMS (Universal Canal Shipment System). This figure represents an 8.7% increase compared to the fiscal year 2020 and 10% above the tonnage accounted for in 2019, the last fiscal year before the pandemic. The records achieved come in a year marked by the effects of the Covid-19 pandemic around the world, as interruptions caused container rates to increase and production to slow in various sectors due to a shortage of raw materials. It was reported that 184.3 million PC / UMS tons were registered in the container ship line, an increase of 2% in tonnage compared to 2020. This was followed by bulk carriers (90 million tons CP / UMS), chemical tankers (65 million, LNG (61 million), and LPG (52.8 million). Despite the interruptions in the supply chain, LNG vessels increased 31.4% in tonnage through the Canal, which represents the highest increase among all segments. On vehicle carriers, growth was reported in fiscal 2021, but they have not yet fully recovered from the effects of the pandemic. In addition, a similar situation occurred with passenger ships, a segment that is expected to gradually return through the interoceanic route in 2022. The ACP also registered a total of 13,342 vessel transits in the fiscal year 2021, with Neopanamax vessels as the main support. https://www.newsroompanama.com/business/panama-canal-transits-recorde-tonnage Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted November 13, 2021 Moderators Share Posted November 13, 2021 Quote LNG Cargoes Drive Record Tonnage at Panama Canal By Jamison Cocklin. November 3, 2021 The Panama Canal Authority said a record amount of tonnage passed through the waterway during fiscal year (FY) 2021, a milestone driven in large part by liquefied natural gas (LNG) cargoes, which saw the largest increase. “LNG is not only growing the fastest, but it has had its best year in terms of tonnage through the canal,” said Deputy Administrator IIya Espino de Marotta. The authority said 516.7 million tons moved through the locks, up 8.7% from FY2020 and 10% above the tonnage registered in pre-pandemic FY2019. LNG carriers registered a 31.4% increase in tonnage through the Panama Canal, “representing the largest gain across all segments,” the authority said. LNG in January also had set new annual records for total tonnage and transits in addition to monthly tonnage and transit records, fueled by record winter temperatures in Asia and more export terminals along the U.S. Gulf Coast. The Panama Canal is the preferred route between the Atlantic and Pacific basins, offering the shortest passageway to Asia, where LNG prices have skyrocketed this year and incentivized more cargoes to journey from North America and other supply sources. Through August, Asia accounted for the majority of all U.S. LNG cargo destinations at 41.8%, according to NGI data. The authority said FY2021 was marked by unprecedented supply chain challenges caused by the ongoing impacts of Covid-19. Liquefied petroleum gas (LPG) cargoes and containerships also helped increase traffic. “Containerships continue to reflect a surge in demand for finished consumer products, as increased purchases during the pandemic stressed supply chains and caused congestion in ports worldwide,” the authority said. [In the Know: Better information empowers better decisions. Subscribe to NGI’s All News Access and gain the ability to read every article NGI publishes daily.] LPG tonnage was up by 18.4% year/year and followed LNG in segment growth. Containership tonnage was up by nearly 11% over the same time. The increase in traffic and tonnage over the last year has created logistical hurdles and at times pushed up natural gas prices. Ships were tied up for longer periods last winter as they traveled farther through the Suez Canal or around the Cape of Good Hope to bypass congestion at the canal. Overall, the authority said there were 13,342 transits in FY2021, up 0.1% from the prior year. © 2021 Natural Gas Intelligence. All rights reserved. https://www.naturalgasintel.com/lng-cargoes-drive-record-tonnage-at-panama-canal/ Quote Link to comment Share on other sites More sharing options...
“Containerships continue to reflect a surge in demand for finished consumer products, as increased purchases during the pandemic stressed supply chains and caused congestion in ports worldwide,” the authority said. [In the Know: Better information empowers better decisions. Subscribe to NGI’s All News Access and gain the ability to read every article NGI publishes daily.] LPG tonnage was up by 18.4% year/year and followed LNG in segment growth. Containership tonnage was up by nearly 11% over the same time. The increase in traffic and tonnage over the last year has created logistical hurdles and at times pushed up natural gas prices. Ships were tied up for longer periods last winter as they traveled farther through the Suez Canal or around the Cape of Good Hope to bypass congestion at the canal. Overall, the authority said there were 13,342 transits in FY2021, up 0.1% from the prior year.
Moderators Moderator_03 Posted December 18, 2021 Moderators Share Posted December 18, 2021 Quote Canal hits tonnage forecast four years early and delivers $2.5 billion to treasury Posted 18/12/2021 The constant transit of Neopanamax vessels through the Panama Canal, since the inauguration of the new locks, on June 26, 2016, produced in the fiscal year 2021 the tonnage that was projected for 2025. The fiscal year, ending September 30, reached a volume of 516.7 million tons CPSuab (universal system of tonnage of ships of the Panama Canal), 8 million more than the estimated for 2025, which was 508 million tons. , according to the most probable forecast indicated in the Canal expansion proposal, in April 2006. For the former administrator of the Canal, Jorge Luis Quijano, several factors have promoted this behavior, including the growth in the size of the Neopanamax container ships, which at the time were thought to not exceed 12,500 TEU (unit equivalent to a 20-foot container long) and that today already reach up to 15,383 TEU (Triton of Evergreen), by optimizing their design to that of the new locks of the Panama Canal. "Also of consideration is the unexpected growth in the traffic of ships with liquefied natural gas and liquefied petroleum gas, both due to unexpected levels of exports from the United States and vehicle carriers that can only use the new locks," he explained. The budget approved for fiscal year 2022 of the ACP anticipates 536.6 million tons CP / Suab, that is, about 20 million tons more than the 516.7 million of 2021. In contributions to the National Treasury, it is expected to deliver $ 2,497.2 billion the highest contribution in the history of the Canal to the country. The Canal's budget for fiscal year 2022 calculates revenues of $4.215.billion, the highest amount budgeted for the waterway's operations since its inauguration in 1914. https://www.newsroompanama.com/news/canal-hits-tonnage-forecast-four-years-early-and-delivers-25-billion-to-treasury-1 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted December 28, 2021 Moderators Share Posted December 28, 2021 Quote After record year Panama Canal predicts more in 2022 Container ships will help fuel increased canal transits. Posted 28/12/2021 The Panama Canal Authority (ACP) said on Monday, December 27 that it expects the container ship, liquefied natural gas (LNG), and liquefied petroleum gas (LPG) segments to boost growth in 2022 after 2021 in which it recorded a record 516.7 million tons transiting the waterway "We look forward to accommodating, even more, transits for our customers next year, as container ship, liquefied natural gas and liquefied petroleum gas transits are expected to drive growth," said Panama Canal Deputy Administrator Ilya Espino de Marotta. In a public statement, the ACP highlighted that reaching "another record year" this 2021 "was not easy, given the challenges faced by the interoceanic route, from interruptions in the global supply chain to the continued effects of the pandemic on the global economy ". According to data from the Canal Authority traffic through the interoceanic highway "rose between October 1, 2020, and September 30, 2021, driven by the segments of LNG, LPG, container ships, bulk carriers and vehicle carriers. In the fiscal year that ended on September 30, the tons and transits of container ships grew by 10.8% and 2%, respectively, in relation to the previous fiscal year; that of LNG by 31.4% and 28.2%; and that of LPG by 18.4% and 16.4%, respectively. Fiscal year 2021 was "exceptional" for the Canal, with a record 516.7 million tons of traffic, 8.7% more than the previous year and 10% above 2019, said the administrator of the road, Ricaurte Vásquez, who predicted a more moderate growth for 2022. The interoceanic highway delivered more than 2.08 billion dollars to the Panamanian State on December 16, a record contribution corresponding to the year 2021. By 2022 it expects to contribute 2.497.2 billion, according to the budget approved by Parliament. The Panama Canal, through which 3.5% of world trade that moves by sea passes, connects more than 140 maritime routes and 1,700 ports in 160 countries. https://www.newsroompanama.com/business/after-record-year-panama-canal-predicts-more-in-2022 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted February 12, 2022 Moderators Share Posted February 12, 2022 Quote Panama Canal sees lower demand of LNG vessel transit amid crisis in Europe Posted 2/12/2022 Warmer temperatures this winter in Asia and higher gas demand in Europe are cutting demand for transit of vessels carrying liquefied natural gas (LNG) through the Panama Canal, the waterway’s authority told Reuters on Wednesday. The Canal overall is facing higher seasonal demand for vessel passage with an average of 39 ships per day, and it is working to accommodate vessels arriving without reservation for passage, the Panama Canal Authority added. Thomas H. Brymer II https://panamaadvisoryinternationalgroup.com/blog/news-from-panama/panama-canal-sees-lower-demand-lng-vessel-transit-amid-crisis-europe/ Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted August 15, 2022 Moderators Share Posted August 15, 2022 Quote Canal sets size record with transit of container ship Posted 15/08/2022 The Panama Canal celebrated 108 years of operation on Monday, August 15, after reaching some records in the operations of the new locks that have been in operation since June 26, 2016. A new record was set with the transit through the neo-Panamax locks of the container ship CMA CGM Zephyr, the largest ship by cargo capacity that has crossed the route to date. The Zephyr with a capacity of 16,285 TEUs (a unit equivalent to a 20-foot long container), completed its return journey through the Neopanamax locks on July 1. Although the neo-Panamax locks were initially expected to serve vessels with a maximum of 12,600 TEUs, the Panama Canal exceeded this threshold, "thanks to the experience gained in the operation of the locks and its close collaboration with customers," says a Canal Authority (ACP) release. The Canal connects 180 maritime routes that reach 1,920 ports in 170 countries around the world, and in the calendar year 2021 2.4% of world maritime trade transited. https://www.newsroompanama.com/news/canal-sets-size-record-with-transit-of-container-ship Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted March 15, 2023 Moderators Share Posted March 15, 2023 Quote Panama Canal facing difficult times - administrator Posted 14/03/2023 During a meeting with members of Civil Society and the media, the administrator of the Panama Canal, Ricaurte Vásquez, said that the interoceanic highway one of the country's main assets "is going through difficult times." Canal charges by tonnage, not by transit, and statistics are being reflected where there is more traffic of small vessels, which consequently represents less tonnage and, in turn, lower collections. The Panama Canal Authority reiterated that the use of water depends on the number of transits in the Canal and that a greater volume of it is being used, at a time when the waterway is generating less income. Meanwhile, there will be a decrease in the number of containers that will pass through the Panama Canal, due to economic conditions in the world. https://www.newsroompanama.com/news/panama-canal-facing-difficult-times-administrator Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted March 30, 2023 Moderators Share Posted March 30, 2023 Quote Freshwater charge earns Canal $457 million Posted 29/03/2023 The "freshwater charge" introduced three years ago by the Panama Canal Administration (ACP) has generated income of $457 million for the waterway. In 2020, the administrator of the Canal, Ricaurte Vásquez, established the charge for freshwater as a strategy due to the lack of the resource and the urgency of offering a long-term solution to the issue of supplying the asset, both for human consumption and for the operation of the Canal. HIGHER RAINFALL “For the fiscal year 2022, rainfall was 8.5% above the historical average and, thanks to effective water management in the Gatún and Alajuela reservoirs, during 88% of the days of the fiscal year 2022, the interoceanic highway offered a draft of 50 feet, the highest allowed in the neopanamax locks”, said the entity. These levels in the lakes facilitated the transit of ships with larger cargo volumes last year. In the fiscal year 2022, the freshwater charge paid during the dry season was significantly lower, because in this season the Gatún reservoir presented a level that did not impact, to a large extent, the variable component of the new charge, which is related to with the level that the reservoir presents during the date on which the transit is carried out. The freshwater charge is applicable to all vessels over 125 feet in length) that transit through the Canal, with a fixed of $10,000 for each transit and a variable charge that is the percentage of the toll established on the basis of the daily level of Gatun Lake, between 1% and 10% of the toll. This means that the higher the level of the lake, the less percentage would be charged. Similarly, the lower the lake level, the higher the percentage. The ACP explained that benefits were added to the charge for fresh water for customers who receive real-time data on the current and projected levels of Gatun Lake, indicators of precipitation, evaporation, and the maximum depths allowed when requesting transits through the Canal. https://www.newsroompanama.com/business/freshwater-charge-earns-canal-457-million Quote Link to comment Share on other sites More sharing options...
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