Moderators Moderator_03 Posted June 10 Moderators Share Posted June 10 Quote Panama Canal Seeks to Build New Reservoir Posted 09/06/2024 The Panama Canal, through which about 5% of global trade transits ($270 billion dollars worth of cargo annually), seeks to make its comprehensive system of reservations for ships that want to cross it "more permanent" and is exploring building a new reservoir to increase its capacity. Due to the drought caused by the El Niño phenomenon, the Central American channel had to impose traffic restrictions from 2023, including a reduction in the draft allowed for ships and a reduction in the maximum number of authorized ships to cross it. "In our quest to achieve lasting operational improvements, our goal is to make this reservation system more permanent, even as traffic volumes begin to normalize, to further increase the reliability of the Canal," a representative said. Previously, spaces for boats only had to be reserved in advance for 70% of transits. The representative stressed that climate variability poses a long-term risk to the operations of the sea route, as does the growth of the Panamanian population and the expansion of maritime trade, which is expected to generate greater demand for water. Faced with this dilemma, they are looking for alternatives. "A promising solution we are exploring is the construction of a new reservoir, which would provide capacity for 11 additional transits," he explained. At the end of May, the administration of the transoceanic passage announced that it was increasing the maximum draft to 45 feet (about 13.71 meters) authorized for vessels in the Neopanamax locks of the channel. https://newsroompanama.com/news/panama-canal-seeks-to-build-new-reservoir Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_03 Posted July 10 Author Moderators Share Posted July 10 Quote New Water Reservoir Construction for the Panama Canal - 36 Ships Per Day Posted 09/07/2024 The Panama Canal expects to complete a billion-dollar construction of a new water reservoir within six years that will help ensure the passage of 36 ships a day, the administrator of the global waterway said on Monday. The Indio River reservoir project would become part of the network of existing artificial lakes that allow for safe passage through the canal and provide water for human consumption. "We are looking at six years," canal administrator Ricaurte Vasquez said. Vasquez said the project "would provide a little more certainty to maintain 36 transits per day, a higher level of reliability for the route." Last month, the Panama Canal said after recent rains boosted water levels, it would increase the total number of available slots in both Neopanamax and Panamax locks to 35 slots after Aug. 5. Increased rainfall in recent months has allowed the canal, the world's second-largest, to replenish its watershed, leading to an increase in transits that had been severely restricted last year amid a drought. Ricuarte estimated the project would cost around $1.2 billion, plus an additional $400 million in investments in neighboring communities. https://www.newsroompanama.com/news/new-water-reservoir-construction-for-the-panama-canal-36-ships-per-day Quote Link to comment Share on other sites More sharing options...
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