ShippingWatch

The dream of a Nicaragua Canal starting to crack

According to Nicaraguan media the construction of a Nicaragua Canal, as an alternative to the Panama Canal, will not be able to start before 2015, a year later than originally announced. And Guatemala is now also working on similar plans.

Photo: Maersk Line

It almost sounds too incredible to be true, and that might just be the case, as the story about major Chinese investor Wang Jing and his plans to build a canal between the Pacific and the Caribbean Sea through Nicaragua has now bumped into its first big obstacle.

According to Nicaraguan newspaper La Prensa the country's top official responsible for the canal project, Manuel Coronel Kautz, now says the project - which is surrounded by a certain degree of mystery - will likely not start before 2015. American newspaper Miami Herald reports that this is a year later than expected, as the construction was planned to begin this year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs