Panama Canal Amends Tender

The Panama Canal amended the prequalification document for a tender for the engineering, design, and construction of an optimized water management system. The decision comes after receiving more than 250 potential bidder inquiries following the opening of the prequalification period on September 7. This tender is the first component of a program that, as a whole, will still maintain the objective of managing water resources in an integrated manner to provide ... [+]

Panama Canal Reboots Decarbonization

In July, the Panama Canal joined virtual informal talks organized by the International Maritime Organization (IMO). Although focused specifically on short-term measures for reducing GHG from ships, the discussions brought momentum back to the broader, industry-wide efforts around the decarbonization of shipping. These milestones, combined with recent industry announcements, not ... [+]

Panama Canal Secures Steady Draft, Operational Reliability Following Water Measures

Earlier this year, the Panama Canal implemented water saving measures after experiencing the fifth driest year at the Canal in 70 years. Thanks to the long-standing partnership with our customers and their flexibility to adapt to these measures, the Panama Canal has now emerged from its dry season equipped ... [+]

Panama Canal Implements Temporary Relief Measures

To help mitigate the economic impact of the COVID-19 pandemic, the Panama Canal announced a temporary adjustment to its reservation system that will provide customers with added flexibility and relief. Effective May 4, 2020, the waterway will implement temporary changes to the requirements for the placement of booking guarantees and ... [+]

Panama Canal Closes 2019 Fiscal Year with Record Tonnage

The Panama Canal has closed the 2019 fiscal year (FY19) with a record tonnage of 469 million Panama Canal tons (PC/UMS), a 6.2 percent increase compared to FY2018. With this figure, the waterway exceeds the 450.7 million PC/UMS tons projection for FY2019, as well as the record tonnage of 442 ... [+]

Dr. Ricaurte Vásquez Morales Takes Office as Panama Canal Administrator

Ricaurte Vásquez Morales, Ph.D., an economist with more than 30 years' experience in the public and private sector, was sworn-in as the new administrator of the Panama Canal for a seven-year term at the helm of the waterway, shortly before the Canal celebrates its 20th year under Panamanian administration on ... [+]

Panama Canal Signs Agreement with Port of Rotterdam

The Panama Canal and the Port of Rotterdam signed a Memorandum Understanding (MOU) to promote international trade between Europe and the West Coast of South America. Through this agreement, the two organizations will work closely to optimize operations while encouraging economic growth and the exchange of information on new business ... [+]

Ahead of IMO 2020, The Panama Canal Asserts its Role as the Green Route

On January 1, 2020, the global maritime community will adopt new ambitious emission standards set by the International Maritime Organization (IMO). Aimed at reducing the industry’s carbon footprint, the transition from the current 3.5% sulphur cap on fuel content to 0.5% has begun to spur significant changes that disrupt “business ... [+]

Panama Canal Joins Global Industry Alliance to Support Low Carbon Shipping

The Panama Canal formally joined the Global Industry Alliance (GIA), a public-private partnership initiative of the International Maritime Organization (IMO) under the framework of the Global Maritime Energy Efficiency Partnership (GloMEEP) Project, which is a Global Environment Facility (GEF)-United Nations Development Program (UNPD)-IMO project comprised of maritime industry leaders working ... [+]

Moody’s Upgrades Panama Canal’s Long-Term Rating

Moody’s Investors Service upgraded the 20-year $450 million Senior Unsecured Bonds issued by the Panama Canal Authority (ACP) to A1 from A2, with a stable outlook, based on the waterway's strong performance since the expansion's inauguration. Moody's noted that the Expanded Canal has increased overall tonnage and attracted new market segments, ... [+]

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