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

Port of Long Beach Records Highest Volumes Ever for June

Port of Long Beach Records Highest Volumes Ever for June

Logistics ManagerJuly 19, 2018
MCC Transport Begins Port Calls at HICT in North Vietnam

MCC Transport Begins Port Calls at HICT in North Vietnam

Logistics ManagerJune 28, 2018
Nippon Express to Operate Largest Distribution Center in the Port of Rotterdam

Nippon Express to Own Largest Distribution Center in the Port of Rotterdam

Logistics ManagerJune 21, 2018

Hutchison Ports Thailand (HPT) Welcomes First Vessel to Call Terminal D at Laem Chabang Port

Panthita PhensawangJune 19, 2018

Port of Rotterdam Authority Launches Low-Threshold Monitoring System

Logistics ManagerJune 15, 2018

Full Steam Ahead as Sahathai Terminal Builds Upon Strong Momentum

Logistics ManagerJune 6, 2018

Hutchison Ports Thailand Recently Welcomed ONE’s First Container Vessel to Laem Chabang Port

Logistics ManagerJune 4, 2018

Kalmar Completes Delivery of Essential Forklifts to Port of Dalian

Logistics ManagerJune 1, 2018
MSC and Abu Dhabi form Joint Venture to Develop Khalifa Port

MSC and Abu Dhabi form Joint Venture to Develop Khalifa Port

Logistics ManagerMay 22, 2018