The Cabinet Council of the Republic of Panama has officially approved a proposal to modify the Canal tolls structure, following a recommendation from the Panama Canal Authority (ACP) Board of Directors.
The Panama Canal is a vital shipping route for the industry. The “ever-operating” engineering marvel connects the world 24/7 offering its customers a safe and reliable service.
Ship container line Hapag-Lloyd has placed an order for five vessels as it looks to bolster trade in Latin America ahead of next year’s planned expansion of the Panama Canal, the world’s fourth biggest player said on Monday.
France’s CMA CGM, the world’s third-largest container shipper, announced on Monday plans to order three giant vessels and said higher volumes and profit last year showed its focus on economies of scale was bearing fruit.
For the fifth straight year, the Panama Canal Authority (ACP) has been celebrated by the Ethisphere Institute, a research organization committed to advancing the standards of ethical business practices, as a 2015 World’s Most Ethical Company.
The Panama Canal Expansion is the largest project at the Canal since its original construction. The project will create a new lane of traffic along the Canal through the construction of a new set of locks, doubling the waterway’s capacity.
Watch amazing time-lapse videos of ships transiting the Panama Canal.
Mitsubishi Heavy Industries (MHI) has received an order from Astomos Energy Corporation for a very large liquefied petroleum gas (LPG) carrier. The carrier will provide the world’s highest level of energy-saving performance, flexibility to accommodate major LPG terminals around the globe, and specifications suited to passage through the newly expanding Panama Canal.
Lloyd’s Register report looks at the commercial landscape, regulatory issues and technical realities of a new trade in ethane emerging as a result of increased US gas production – and the technology required for large ethane carriers.