Panama Canal Open Date Unveiled

 04 Feb 2016     Cargo Volumes and Throughput, Carriers, Containers, Environment , Global Economy/Trade, Going Places, Port Planning

A new set of larger locks is set to be completed at the end of June, 2016 for the expanded Panama Canal after year-long delays and a crack that was found at the bottom of one of its 16 rolling gates in the Cocoli Locks, according to Reuters.

Salini Impregilo and Sacyr, two companies who are leading a consortium involved with the project construction, are currently in the process of testing the Panama Canal before it comes into operation.

The aforementioned crack was discovered in mid-2015, with industry sources reporting that the repair works could lead to extensive delays, which has recently been the case.

Jorge Quijano has since released an end of year statement in 2015 which highlighted the country’s focus on ensuring that the new locks are scrupulously tested.

It was rumoured previously that the Panama Canal could be re-expanded at a total cost of US$17 billion in order to service the world’s largest containerships.

This project hasn’t yet been approved; however, the Panama Canal is focusing its efforts on a new logistics zone, as well as the construction of its new transhipment container terminal at Port Corozal, in order to limit the number of port calls from post-Panamax ships in the Western Hemisphere.

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