Monday, August 25, 2014

Top Story

Panama Canal Authority updates Maersk execs on expansion

The Panama Canal is launching a pre-operating plan for its new third set of locks, which are expected to be operational by the start of 2016, and recently briefed officials from Maersk Line on the upgrades, according to an announcement by Panama Canal Administrator Jorge Luis Quijano.

Quijano presented the plan during a meeting with a delegation from Maersk Line, including company President Soren Skou, the Panama Canal Authority (ACP) said in a statement.

"Maersk Line remains today one of the principal clients of the Panama Canal," Quijano said.

Maersk executives were updated on the progress of the Expansion Program, the statement said, noting that the plan is underway to ensure that the new locks will be open for transit by the beginning of 2016.

The meeting with the world’s biggest shipping line was held to discuss future trends in the shipping industry and the latest progress on the expansion work, according to the ACP, which has been managing the canal since the U.S. military ceded control of the waterway in 1999.

The expansion project began in 2007 and calls for the building of a third set of locks, one each on the Atlantic and Pacific coasts, that will create a third lane of traffic big enough to accommodate the larger cargo ships.

Expansion work was supposed to be finished this year, to dovetail with the 100th anniversary of the waterway, but is currently 76 percent complete, the ACP said.


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