Expanded Panama Canal Marks 1,000 Days of Operations and 6,000 Neopanamax Transits

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Expanded Panama Canal Marks 1,000 Days of Operations

Posted on April 1, 2019

Image Courtesy: Panama Canal

The Expanded Panama Canal commemorated its 1,000th day in operation on March 22, marking a milestone for the waterway that continues to redefine world trade routes and exceed expectations.

“During these 1,000 days, the Panama Canal’s workforce has not only met the challenge of successfully managing the Neopanamax Locks, but also exceeded the projections we had for this period of operations, thanks to their efficiency and productivity,” Jorge L. Quijano, the Panama Canal Administrator, said.

Since the inauguration of the expanded canal in June 2016, the waterway has experienced an increase in cargo tonnage, as a result of new segments and liner services that have been redirected through Panama to capitalize on the time and cost savings offered by the interoceanic route.

More than 5,700 Neopanamax vessels have since transited through the waterway, with container ships accounting for about 51 percent of traffic, followed by liquefied petroleum gas (LPG) and liquefied natural gas (LNG) ships with almost 26.2 and 11.3 percent, respectively. The waterway has also welcomed bulk carriers, tankers, vehicle carriers and cruise ships through the Neopanamax Locks.

Increased experience with the Neopanamax Locks, along with continued optimization of and investment in its operations, have allowed the waterway to provide additional capacity, flexibility and efficiency across segments. Such changes have included modifications to the Transit Reservation System and transit restrictions, as well as the addition of two reservation spaces for the Neopanamax Locks, bringing the total number of booking spaces from six (at the time of opening) to eight. As a result, the Canal has marked a series of recent milestones, including record annual tonnage and the first transit of four LNG vessels in one day last October.

Just last month, the Panama Canal celebrated Moody’s Investors Service upgrade of the Panama Canal’s long-term rating, based on the canal’s strong performance since the expansion’s inauguration. This was followed days later by the waterway’s admission to the Global Industry Alliance (GIA), a public-private partnership initiative of the IMO.

“These recent achievements reflect the canal workforce’s dedication to bringing value and innovation to the global maritime industry. They also mark just the beginning of an ambitious plan to strengthen Panama’s position as the logistics hub of the Americas.”

“To do so, the waterway will continue to invest in its infrastructure, offerings and people to ensure the Panama Canal remains a competitive and reliable route for the next 1,000 days and on.”

 

https://worldmaritimenews.com/archives/274148/expanded-panama-canal-marks-1000-days-of-operations/

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LNG Vessel Completes 6,000th Neopanamax Transit at the Panama Canal

Source Canal de Panamá

• Less than three years since its inauguration, the Expanded Panama Canal welcomes the milestone transit by Energy Liberty, carrying LNG from the U.S. to Japan.

via CP

 Today, the Panama Canal welcomed its 6,000th Neopanamax vessel through the Expanded Canal, underscoring the route’s ability to accommodate the highly-dynamic liquefied natural gas (LNG) segment, which first transited the waterway following the inauguration of the Expanded Canal less than three years ago.

The LNG vessel Energy Liberty completed the milestone transit today travelling southbound from the Atlantic to the Pacific Ocean. Constructed in 2018, the vessel has a cargo capacity of 165,000 m3 and measures 300 meters in length and 49 meters in beam.

“Once again, we are proud to celebrate this achievement alongside our world-class workforce and LNG industry partners, who have swiftly adopted the waterway since the inauguration of the Expanded Canal less than three years ago,” said Panama Canal Administrator Jorge L. Quijano. “We look forward to continuing to exceed expectations for our customers, while offering the same reliable service, flexibility and opportunity as always.” 

With significant reductions in voyage time, the Expanded Canal offers a highly competitive route for U.S. gas deliveries to major Asian importers. The Energy Liberty is transporting LNG from the Cove Point Terminal in Maryland, United States and is headed to Japan. This is the Energy Liberty’s sixth transit through the waterway since its inauguration in 2016.

This milestone transit follows the 5,000th Neopanamax transit in December 2018 and comes as a result of the Canal team’s increased experience with the Neopanamax Locks and optimization of its operation, which has allowed for additional capacity, flexibility and efficiency across segments.

Of the 6,000 Neopanamax vessels that have transited to date, more than 50 percent have been from the container segment. Liquefied petroleum gas (LPG) vessels constitute another 26 percent, and LNG vessels make up 11 percent. Dry and liquid bulk carriers, car carriers and cruise ships make up the remaining transits.

 

https://www.hub.com.pa/lng-vessel-completes-6000th-neopanamax-transit-at-the-panama-canal/