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Panama Canal sets new record in 2018

Developments in the fiscal year 2017/2018 have taken management of the Panama Canal by surprise, and it describes the year as a record for the vital waterway.

Panama Canal contractors are demanding more money

The authorities in Panama risk that the bill for the Panama Canal expansion may grow three times its original size due to demands from the Spanish construction consortium which was hired for the job.

Four companies competing for 5.2 million teu in Panama

The Panama Canal has now published tender documents for a new container terminal on the Pacific side, which will reach a capacity of 5.2 million teu in two stages. Maersk Group's APM Terminals and PSA are among the four prequalified contractors.

Suez Canal raises turnover slightly this year

Revenue increased slightly for the Suez Canal in the first seven months of the year despite lower levels of global trade and thus fewer volumes, reports the canal authorities a year after the expanded canal opened its doors.

Panama Canal shortens Maersk Line US sailings

Maersk Line will reroute its sailings between Asia and the US East Coast via the new, expanded Panama Canal and thus shorten sailing times. This is good news for shippers in South Korea and China, says the head of the East-West network.

New low point in leasing of Panamax container ships

According to Alphaliner, Germany's Rickmers has entered charter contracts on three Panamax container ships with the carrier MSC for rates below Rickmers' daily operational expenses. The sales price for this type of vessel is also at rock bottom.

Container ships ditch Suez and Panama and speed up

Without garnering much attention, numerous container carriers are now taking the long way south of Africa instead of using either the Suez or Panama Canal. Significant perspectives in light of the low oil price, estimates SeaIntel.

Panama Canal launch now expected in June

The expansion of the Panama Canal has now been pushed further back from its scheduled launch in April and will thus open its new locks to larger vessels in June 2016. The project has been delayed for more than a year.

Panama Canal launch pushed to second half of 2016

The launch of the new and expanded Panama Canal has been postponed numerous times. Now the commercial inauguration of the canal is scheduled for the second half of 2016, reports the Journal of Commerce.

New Panama Canal makes thousands of ships redundant

The expansion of the Panama Canal will make thousand of ships in the Panamax fleet redundant, projects Drewry in comments to ShippingWatch. This puts shipowners in a dilemma that could ultimately impact the whole industry.

Panama Canal inauguration postponed once again

It has now been made official that the inauguration of the expanded Panama Canal will not take place in April. The country's president has announced a new date while also putting pressure on the contractors to finish the work.

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