facebook_pixel
CMA CGM Ad
Ports and Terminals

The Expanded Panama Canal is Now Officially Open for Business

The Expanded Panama Canal is Now Officially Open for Business
Danny Gill

Panamanian President Juan Carlos Varela and Panama Canal Administrator and CEO Jorge L. Quijano recently gave speeches to a large crowd at the inauguration of the expanded Panama Canal. This is the first expansion of the waterway since its original construction.

“More than 100 years ago, the Panama Canal connected two oceans. Today, we connect the present and the future,” said Mr. Quijano speaking to the people of Panama. “It is an honor to announce that what we did it together: providing this great connection to the world. This is the beginning of a new era.”

“Canal users can be assured that we’ll continue to support the Panama Canal Authority and our port operators to provide them a world class service and strengthen our logistics system by creating the necessary incentives and conditions to give added value to our inter-oceanic route,” said Panamanian President Varela.

The inaugural transit began with the passage of Neopanamax vessel COSCO Shipping Panama, originally named Andronikos but renamed to pay respect to the country of Panama and the Canal, through the Agua Clara Locks on the Atlantic side of the country and concluded with its transit through the Cocoli Locks on the Pacific side.
panama
“We are thrilled that we currently have 170 reservations for Neopanamax ships, commitments of two new liner services to the Expanded Canal, and a reservation for the first LNG vessel, which will transit in late July,” Mr. Quijano added. “Our customers care that their supply chain is reliable and that they have a diversity of shipping options. And the Canal has always been reliable; today, we offer the world new shipping options and trade routes.”

The Expansion Program is the Canal’s largest enhancement project. In 2006, more than 75 percent of Panamanians approved the project in a nation-wide referendum, and, in 2007, construction of the $5.25 billion project began. It included the construction of a new set of locks on the Atlantic and Pacific sides of the waterway and the excavation of more than 150 million cubic meters of material, creating a second lane of traffic and doubling the cargo capacity of the waterway.

Ports and Terminals
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Ports and Terminals

Peel Ports Commences Second Phase of Liverpool2

Peel Ports Commences Second Phase of Liverpool2

Danny GillJuly 18, 2017

DP World and Indonesian Government Sign Agreement to Develop Port and Trade Infrastructure

Danny GillJuly 18, 2017
World’s Largest Container Ship Calls Wilhelmshaven on Her Maiden Voyage OOCL Hong Kong

World’s Largest Container Ship Calls Wilhelmshaven on Her Maiden Voyage

Danny GillJuly 3, 2017
Port of Los Angeles Reaches 9 Million TEU Benchmark

VIDEO: Port of Los Angeles Reaches 9 Million TEU Benchmark

Danny GillJune 26, 2017
Ocean Alliance Calls APM Terminals Port Elizabeth

Ocean Alliance Calls APM Terminals Port Elizabeth

Danny GillJune 22, 2017

First 20,000-TEU Vessel Calls Rotterdam

Danny GillJune 20, 2017
sahathai

Sahathai Terminal Officially Files for Initial Public Offering

Danny GillJune 9, 2017

Indonesian Port Operator Places Order for Eight Konecranes Mobile Harbor Cranes

Danny GillJune 2, 2017

CMA CGM and Adani Ports Ink Deal to Run New Container Terminal

Danny GillApril 28, 2017