Hyperlogisistics has dedicated this section of our website to the education of The Panama Canal Expansion Project. The project could dramatically change the economics and travel of the international trade flowing into and out of the free world. Navy Cmdr. Ligia Cohen calls the Panama Canal "perhaps the most crucial piece of infrastructure supporting the free flow of trade and goods in the Western hemisphere."
Manufacturers and distributors worldwide will reap benefits upon the completion of the canal expansion. Hyperlogistics is excited about this global affect on the world trade community and want to share brief updates and information to you. Stay tuned for new project developments and news coming from the international trade community.
To get started....click on the following link to view a video on the Panama Canal's Expansion Project and it's remarkable history, courtesy of DC Velocity.
News Update 12-28-12: CoStar Group Report: Panama Canal Expansion Expected to Bring Rising Tide of Warehouse Investment to Nation's Seaports. Developers, investors and supply chain executives are generally bullish on port markets and confident they will be among the prime beneficiaries of global trade shifts and events such as the canal expansion. Read more at http://www.costar.com/News/Article/Panama-Canal-Expansion-Expected-to-Bring-Rising-Tide-of-Warehouse-Investment-to-Nations-Seaports/144169?iid=314&cid=0BF7E4EE76266A87F72F96FFD87FB617
News Update 7-20-12: Hyperlogistics Staff: The Wait Is Worth It - As the saying goes that anything worth having takes time and hard work.... the completion of the Panama Canal Expansion Project is no exception. The projected 2014 completion date for the canal expansion is now skeptical, but politically it is important to the Panama Canal Authorities and its neighboring civilian authorities to complete the project within the 100th anniversary year of the completion of the original Panama Canal construction in 1914 by the United States. As it looks now, the official rededication will occur in December 2014, even if some new areas are not yet completely functional. And although various news sources are reporting a 2015 completion date, the Panamanian people continue to be upbeat and hopeful for the future. As the recession looms in most parts of our world, Panama is forging ahead and spending billions for construction material and heavy equipment. The U.S., along with many other countries, are reaping the rewards in huge sales that are contributing to the positive influence on our world economy. Yes, it's worth the wait!
The state is still assessing the impact that the expansion of the Panama Canal will actually have, but one thing is pretty firm. Traffic looks to be picking up the next couple of years along main thoroughfares like here along I-35. Experts say the Panama Canal, now 96 years old, opened before the Titanic was even on the drawing board and has reached it's limits. Projected to be finished by the end of 2014, expansion will allow much bigger ships to carry a lot more goods. Those extra goods likely will be rolling down interstates like 35- already handling more than 200-thousand vehicles a day between San antonio and Dallas. Read more at www.woai.com/news/local/story/Panama-Canal-expansion-impacting-Texas-roads/bv38Hgh6S0OlvXUA0LChJQ.cspx
Press Release 2-18-12: The New York Times - Canal Expansion Raises Expectations and Questions: The Port of Houston Authority's Vice President for Origination, Ricky Kunz, speaks about the (expected) financial boom to hit Texas when the Panama Canal Expansion Project is completed in 2014 and expresses that conservativeness is the key to realistic predictions. Other Houston authority figures agree that it will take decades to fully realize the potential of the new canal capacity. Read more of this interesting article at: www.nytimes.com/2012/02/19/us/expanded-panama-canal-raises-questions-for-houstons-port.html
News Update 1-27-12: www.platts.com: Panama Canal Expansion Will Have Effects on US Shipping, and Oil Won't be Spared: At the Platts Bunker and Residual Fuel Conference in 2011, one West Coast bunker supplier said the Canal expansion would "kill the (bunker) market" in that region. As for other oil shipments, large crude and other product cargoes could transit from Asia and deliver right to the U.S. refining center in the U.S. Gulf route. Click on the following link to read the entire article: www.platts.com/weblog/oilblog/2011/09/30/panama_canal_ex.html
Press Release 12-15-11: The Journal of Commerce - Army Corps Say Charleston Deepening Unlikely For Years: The U.S. Army Corps of Engineers said the deepening of the channel into the Port of Charleston's harbor to 50 feet is unlikely to be finished before 2024. The U.S. government has not decided whether to deepen the port, which can't happen without federal approval and funding. Such a decision would come after a study that is just beginning and could take five to eight years to complete. Click on the following link to read the entire article. www.joc.com/portsterminals/army-corps-say-charleston-deepening-unlikely-years.
Press Release 12-8-11: Daily Press - Panama Canal Expansion Expected to Spike Hampton Roads Freight Volumes: During a Governor's Transportation Conference session on "The Importance of Multimodal Transportation to Virginia's Global Competitiveness: A Customer Perspective," Frank J. Baragona, president of CMA-CGM, LLC, a France-based container shipping group, explained how the Panama Canal work may impact shipping traffic at the Port of Virginia in coming years. Click on the following link to read the entire article. www.dailypress.com/news/traffic/street-smart-blog/dp-panama-canal-virginia-port,0,1073120.story
Press Release 11-11-11: The Wall Street Journal - Ripples Likely From Wider Canal: "Right now, about 70% of U.S. imports from Asia arrive by ship on the West Coast, and then get transferred to rail lines like Burlington Northern's for transit to the rest of the country. But in 2014, Panama will rock the world of logistics. That's when it will open a fat new lane of its canal for big ships that can carry three times as much as vessels sailing the current channel. If larger vessels make it cheaper to send cargo through the canal, ports in the East and on the Gulf Coast could grab a big slice of business from the West, and thousands of jobs with it" reports John Bussey. To read full article go to The Wall Street Journal, Marketplace.
Press Release 10-27-11: www.pancan.com - CEO of the Panama Canal Authority, Alberto Aleman Zubieta, will be awarded the Latin Trade BRAVO Business Award for Distinguished Service in the Hemisphere on October 28. Bravo Business Awards are given to those playing a key roll in improving Latin America's economy, business and education. Under Mr. Zubieta's leadership, the Panama Canal has begun an extensive project to expand its interoceanic passage to increase global trade. The completion of the waterway's expansion will bring a new level of change and opportunity, which is awaited with great anticipation and pride.
Press Release 10-19-11: www.pancan.com - The Panama President, Ricardo Martinelli, witnessed a new milestone at the Canal Expansion today with the filling of a segment of the new access channel that will allow the transit of Post-panamax vessels between the new Locks and the Culebra Cut. The Canal Affairs Minister, Romulo Roux, said the expanded Canal "will be able to meet the demands of world trade and will change shipping patterns which will translate into more opportunities for Panama and the region."
Press Release 7-12-11: www.pancanal.com - The Panama Canal Authority (PCA) announced today they have renewed their ties with South Carolina Ports Authority (SCPA), which owns and operates the Port of Charleston. Both parties signed a 3-year Memorandum of Understanding (MOU) agreement that reinforces both entities' commitment to growth and best practices that benefit customers of Panama and South Carolina.
News Update 7-1-11: China and Columbia are negotiating plans to build an alternative to the Panama Canal. The proposed transport route is intended to promote the flow of goods between Asia and Latin America. The plan is to create a dry canal linking the Pacific Port of Buenaventura to the Atlantic Coast by rail.
Press Release 6-27-11: The Journal of Commerce Online reports today the Panama Canal Authority (PCA) and the Maryland Port Administration renewed their Memorandum of Understanding (MOU) agreement for five additional years. On June 22, 2011 the Houston Chronicle reported the PCA and the Port of Houston Authority entered into a five year MOU agreement to work together to boost trade between Asia and the U.S. The 2014 completion of the Panama Canal Expansion project marks the 100th anniversay of the Panama Canal and the Port of Houston Authority.
Press Release 6-2-11: Atlanta Business Chronicle - Gov. Nathan Deal says a trip to Washington this week has him more hopeful Georgia will receive federal money to deepen the Port of Savannah in 2012. Savannah and other East Coast ports are competing for money to deepen river channels in an effort to get business from larger cargo ships coming to the U.S. due to the Panama Canal expansion.
Press Release 5-31-11: Reuters Report - The new deeper, wider Panama Canal will make little difference to the flow of world coal trade from exporters in the Americas to big Asian clients. The expanded canal will be geared towards containerized shipping, transporting consumer goods, rather than for coal bulkers.
Press Release 5-12-11: www.pancanal.com - The Panama Canal Authority (ACP) received six proposals from around the world for the design of the first-ever bridge on the Atlantic side of the waterway, at a public event on Tuesday in Panama. Currently the Bridge of the Americas and the Centennial Bridge, on the Pacific side, provide the only routes for vehicles to cross the Canal. The new bridge will be the first located near the Gatun Locks.
Press Release 5-10-11: Panama Canal Authority Signs Partnership Agreement with Soy Transportation Coalition. In Washington, D.C. on 5-10-11, the Panama Canal Authority and Soy Transportation Coalition signed an agreement to promote the benefits of the canal expansion. The U.S. grain exports are a major key to the strong performance of the drybulk transits through the waterways.