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Canal marks 20 years of Panamanian operation


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Canal marks 20 years of Panamanian operation

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Posted 31/12/2019

Panama celebrated on Tuesday, December 31  the 20 years of the US transfer. of the Interoceanic Canal highlighting the efficiency of the operation and its contributions both to the development of the country, and to world trade.

In two decades of Panamanian administration, the Canal "has paid off: it has developed  faith in ourselves," because "we administer the route  more efficiently the route, which yields increasing dividends" destined "for development, said Panamanian President Laurentino Cortizo

In a brief official act, Cortizo raised the Panamanian flag on at in the headquarters building of the Panama Canal Administration (ACP), the state-owned autonomous company that manages the route through which 6% of world trade passes and t connects more than 140 sea routes and 1,700 ports in 160 countries.

The Panama Canal was built and managed by the USA. From its inauguration in 1914, and its transfer was embodied in the Torrijos-Carter Treaties signed in 1977, the product of years of negotiations between the two countries.

The administrator of the ACP, Ricaurte Vásquez, said that today Panama is a "modern and more strategic channel for world trade," whose Panamanian administration "has fulfilled the mandate to operate in a safe, continuous and profitable manner" the waterway, which has as its main US users and China

The construction  of a third lane that allows the passage of Neopanamax ships, with triple the load capacity of those who cross the canal opened in 1914, The Minister for Channel Affairs and Chairman of the ACP Board of Directors, Aristides Royo, told Efe that "new businesses are being conceived for the Canal" that will help the state-owned company

The Canal administrator Ricaurte Vásquez reiterated that among the new challenges and challenges of the Canal is the need to diversify water sources given the climate crisis and its effects.

This 2019  the ACP had to "reduce the tonnage load" of ships on "three occasions" because the Canal did not have the optimum level of water because of the deficit of rains, which have been 27% below the historical average in the basin of the road according to ACP data, Royo told Efe.

The Panama Canal feeds on the artificial lakes Gatún (1913) and Alajuela (1935), but that water also supplies the metropolitan area of Panama City,  about 1.5 million people.

Other challenges facing the road are the "trade wars between the United States and China, the crises that sometimes occur in navigation," and the competition from  the Suez Canal, Canal marks 20 years of Panamanian operation

 

https://www.newsroompanama.com/business/canal-marks-20-years-of-panamanian-operation

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