Panama Canal Authority

Panama Canal Records Third-Highest Annual Cargo Tonnage

The Cosco Shipping, the first ship to cross the third set of lock.

At the close of the 2016 fiscal year (FY16), the Panama Canal Authority (ACP) recorded the third-highest annual tonnage in its history, handling 330.7 million Panama Canal tons (PC/UMS).

A total of 13,114 vessels transited the Panama Canal during the fiscal period from October 1, 2015 to September 30, 2016. Of these, 238 were Neopanamax vessels that took advantage of the newly opened Expanded Canal during the first three months of its operation, accounting for […]

Four new ACP mega projects

La ACP quiere construir una terminal para buques de gas natural licuado.

By: Franklin Castrellón

The Panama Canal Authority (ACP) has announced the development of four mega projects in addition to the Port of Corozal. According to its administrator, Jorge L. Quijano, it will add value to the Panamanian route and boost the development of the country as a global logistics hub. The plan is to create a logistics park, a terminal for liquid natural gas (LNG) ships, another port for car carrier vessels and a photovoltaic […]

Fitch rates Panama Canal with an “A”

The Fitch rating agency confirmed an “A” rating for the Panama Canal Authority (ACP) reflecting a solid revenue profile and low leverage.

Fitch Ratings notes that the Panama Canal provides a unique connectivity and time savings for world maritime trade.

The rating agency believes that the rating outlook is stable, given the strength of the Panama Canal in the economic recession and its strong competitive position, supported by income resulting from the opening of the […]

In first month enlarged Canal earns $20 million

The administrator of the Panama Canal, Jorge Luis Quijano, said that expectations are being met at this point of navigation, noting that there is good receptivity by shipping lines after opening of the new locks with the capacity to receive larger vessels.

The transit of 55 vessels and income of $20 million is the balance after one month of operation of the expanded Canal, the administrator said.

He considered that expectations are met at this […]

ACP maintains optimal levels of navigation safety

Casi no hay accidentes en el Canal.

By Franklin Castrellón

Occasional contact between the hulls of Panamax ships with walls of old locks have been routine in Panama Canal operations over the years.

However, three minor incidents in the new locks opened on June 26, 2016, have generated what sectors of the local maritime community see as an unfounded campaign to raise fears in the maritime industry.

These fears were activated by the Union of Captains and Deck Officers (UCOC) of the ACP […]

Panama owes $3,300 million for canal expansion

El canal ampliado.

After the opening ceremony of the expanded Panama Canal, the Panama Canal Authority (ACP) faces the challenge of increasing its income to pay the debts. The administering institution needs additional revenue to meet the multi-million-dollar debt assumed after completing the greatest engineering feat so far in this XXI Century.

Speaking to journalists covering the expansion of the Canal, Oscar Bazan, Vice President of Planning and Business Development of the ACP, explained that the mega-structure had […]

ACP hold reforestation day Cámara Marítima y la ACP

Cámara Marítima y la ACP realizan jornada de reforestación

On Sunday, July 17, a group of volunteers from the Panama Chamber of Shipping (CMP) and the Panama Canal Authority (ACP) conducted a reforestation day in the Canal watershed area near the newly established Scale Ship Training Center.

The welcoming remarks were given by Rommel Troetsch, president of the CMP and by engineer Manuel Benitez, Deputy Administrator of the ACP. They stressed the importance of this type of activity that raises awareness of environmental care […]