panama canal

- Panama Canal: The Billion Dollar Challenge Maritime Reporter, Aug 2014 #12
Panama Canal expansion will cost operators, insurers

As the Panama Canal prepares to celebrate its 100th anniversary, insurers are warning of the increased risks that will arise from the plan to double the cargo-carrying capacity of the world’s most famous canal.
In a report entitled Panama Canal 100: Shipping Safety and Future Risks, Allianz Global Corporate & Specialty (AGCS) identifies that the value of insured goods transiting the canal zone may increase by over $1 billion per day following completion of the Third Set of Locks Project, which will see two new sets of locks built, creating a third transit lane for larger ships.
Today, more than 12,000 ships navigate the canal each year, a number that should increase following the anticipated opening of the new locks in 2015. It is forecast the expansion will enable between 12 and 14 larger vessels per day, or approximately 4,750 additional ships per year, to pass through the canal. Of particular significance is that many of these ships are expected to be new-Panamax class container vessels of 12,600 teu, which are almost three times larger than the existing largest vessels able to access the canal (4,400 teu).
With approximately 3 percent ($270 billion) of world maritime commerce ($9 trillion) already transiting the Panama Canal every year, the safe passage of vessels is critical. However, AGCS warns the increased traffic and larger vessels may challenge the Panama Canal’s improved safety record over the past decade with the risks exacerbated through the initial period of the canal opening.
“Larger ships automatically pose greater risks,” said Captain Rahul Khanna, AGCS’s Global Head of Marine Risk Consulting. “The sheer amount of cargo carried means a serious casualty has the potential to lead to a sizeable loss and greater disruption.”
Post-expansion, if operating at full projected capacity, AGCS estimates that this could result in an additional $1.25 billion in insured goods passing through the canal in one day, with larger ships playing a critical role in increasing throughput capacity.
An additional element to consider, and one that has been at the forefront of many salvage conference agendas for many years as vessels grow increasingly large: such vessels can pose serious salvage challenges in a congested shipping environment, even potentially leading to blockages. In the event of an accident there may be an insufficient number of qualified experienced salvage experts available to handle the ships.
AGCS believes training is key to mitigating the new risks involved, both in the canal region itself and in affected ports. “The expansion of the Panama Canal will represent a new shipping environment for many mariners,” said Captain Khanna. “Due to the increase in the number of larger vessels passing through this important waterway the level of training provided to pilots will be extremely important. Attempting to maneuver one of these vessels through such a restricted space in itself creates a much bigger hazard.” The Panama Canal Authority has invested heavily in training, including plans to charter a post-Panamax ship to practice maneuvers through the new lane.

Losses in Perspective
While the focus is on potential losses, it’s worthy to note that the Panama Canal region has a steadily improving safety record, with only 27 shipping casualties over the past decade and just two total losses. This accident rate of around 1 in every 4000 transits compares favorably with other major waterways such as the Suez Canal (1 in 1100 transits) and the Kiel Canal (1 in 830 transits). As the most frequently transiting types of vessel, bulk carriers (11), cargo ships (9) and container ships (9) dominate the canal’s casualty list, collectively accounting for over 75 percent of all incidents since 2002.

(As published in the August 2014 edition of Maritime Reporter & Engineering News - http://magazines.marinelink.com/Magazines/MaritimeReporter)
- Panama Canal: Assessing the Risk & Reward Maritime Reporter, Jul 2016 #18
The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016. This briefing examines the risk management impact of this expansion on the maritime industry. Why is the Panama Canal
- Maritime History & the Panama Canal Maritime Reporter, Oct 2019 #26
The Panama Canal is a strategic crossroads for maritime traffic, and is arguably one of the most important maritime developments in the past century. Here we take a deeper dive into the history behind that famous strip of waterway.The present canal, which saw its first vessel transits in 1914, along with
- Panama Canal Installs Marine Fendering System From Solidur Plastics Maritime Reporter, Mar 1991 #70
Solidur Plastics Co., Delmont, Pa., supplied an Ultra-High Molecular Weight Polyethylene (UHMWPE) marine fender system for the locks at the Panama Canal to protect oceangoing ships from the damaging impacts of bumping into the lockwalls. Jorge Quijano, chief of the Locks Division, Panama Canal
- Moss Point Marine Completes Tug For Panama Canal Commission Maritime Reporter, Aug 1986 #50
Moss Point Marine, Inc., Escatawpa, Miss., has completed the all-steel, 105-foot harbor tug, Paz, to the Panama Canal Commission, Republic of Panama. Original construction was begun by another shipyard which did not complete the vessel due to inclement weather and a decision by its management to
- NABRICO Constructs 2 Dump Scows For Panama Canal Commission Maritime Reporter, May 1986 #63
. The two 1,300-cubic-yard barges, the first to be built by NABRICO for the Commission, will be used in the on-going dredging operations in the Panama Canal. Each is classed by the American Bureau of Shipping as an unmanned ocean service barge complete with loadline. A steel reinforced four-inch
- Tracor Hydronautics Delivers Part Task Ship-Handling Simulator To Panama Canal Commission Maritime Reporter, Dec 1984 #46
. The simulator is now located in Balboa, Republic of Panama. It will be used as part of an overall program in the training of pilots for the Panama Canal in ship handling. The simulator was purchased from Tracor Hydronautics as a result of a competitive procurement based on specifications and
- Eastern Marine Delivers Passenger Launch P.C.C. Colibri To Panama Canal Commission Maritime Reporter, Aug 1984 #10
Eastern Marine, Inc. of Panama City, Fla., recently delivered the 64-foot aluminum passenger launch P.C.C. Colibri (shown above) to the Panama Canal Commission Agency of the U.S. Government. The vessel has a beam of 18 feet and a depth of 8 feet 6 inches. Propulsion equipment on the P.C
- Marco Delivers 38-Foot Skimmer To Panama Canal Maritime Reporter, Jun 1983 #14
A second Marco Class 1-D oil skimmer was delivered recently to the Panama Canal Commission. The 38-foot skimmer features Marco's Filterbelt, the key component of all Marco skimmer systems. The Filterbelt separates oil and debris from the water without taking the water aboard. The system has the
- SJS Selected To Build Panama Canal Tugs Maritime Reporter, Jan 2001 #55
Saint John Shipbuilding was awarded the contract to supply two new 4,000 hp tugs with an option on two others. The tugs will be built in Georgetown; Prince Edwards Island at East Isle Shipyard under the supervision of Bill Hind. Timberland Equipment will be supplying the deck equipment to East Isle
- Dravo SteelShip Delivers Pilot Boats For Panama Canal Maritime Reporter, Nov 15, 1980 #12
Dravo SteelShip Corporation has announced the recent completion and delivery of nine 48-foot pilot boats for the Panama Canal Commission. The single-screw pilot launches have all been delivered to the Canal Zone under their own power. They were delivered two at a time for safety measures. The 2
- Thunderbolt Marine Industries Launches Twin 96-Foot Tugs For Panama Canal Services Maritime Reporter, Jul 15, 1977 #17
, Thunderbolt, Ga. They are the first of a new generation of shiphandling and firefighting tugs specifically designed for work in the Panama Canal. The main feature of these tugboats is the capability of the propellers, located just forward of amidship, to be rotated 360 degrees, enabling the

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April 2024 - Marine News page: 33
Coast Guard Subchapter M regulations. Of? cially delivered to Crowley in January of this year, the vessel was heavy lifted from Ala- bama through the Panama Canal and ? oated in Ensenada, Mexico. From there, eWolf transited under its own power up to its homeport, San Diego, where it sits today, ready to
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in a rapidly changing world. The shipping industry experienced this in the last months of 2023 when a severe drought restricted transits through the Panama ship- ping canal causing congestion and delays of up to two weeks. The recent disruption in the Red Sea – a vital trade route between Europe and Asia
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February 2024 - Marine News page: 40
Insurance Company, the issuer of the performance bonds for the original MPSV contracts. “The vessel structure is mostly complete with the vast HOS Panama City Fla. based Eastern Shipbuilding Group majority of the mechanical, electrical and other out? tting has been awarded a contract to complete constructi
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December 2023 - Maritime Reporter and Engineering News page: 36
the preliminary T(OPC) was launched and christened at Eastern and contract design phases, as well as detail design and con- Shipbuilding Group (ESG) in Panama City Florida in late struction. Northrop Grumman is the system integrator for the October 2023. The Coast Guard plans to procure up to 25 of C4ISR
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November 2023 - Marine News page: 30
primarily in the U.S. Gulf and along the East Coast, told Marine News, “We now serve the U.S. West Coast and are consistently transiting the Panama Canal Kirby’s new plug-in hybrid electric inland towing vessel Green Diamond will be time chartered by Shell Trading (US) Company, which will use
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November 2023 - Maritime Reporter and Engineering News page: 80
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September 2023 - Marine Technology Reporter page: 53
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October 2023 - Marine News page: 38
Green Tech Electri? cation Skagit County Opens Bidding to Build Electric Ferry By Eric Haun Washington’s Skagit County is inviting U.S. shipyards trial, based in Canada, was selected to serve as electrical to bid for a contract to construct a new all-electric car and systems integrator. passenger ferry.
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be remiss to not discuss the ongoing Panama disruption. What is going now see inbound rates into North America, in particular on the on today in the Panama Canal Zone and spot basis going up by 50% over the past two months. what are the projections for the coming The rate collapse coincides with the months
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September 2023 - Maritime Reporter and Engineering News page: 44
the problems during the Covid years a vengeance. Carriers operating only in the spot market on the [and on top of that there is a] water shortage in the Panama Transatlantic route are bleeding, as they ? nd spot [rates lower Canal. But if we put the entirety of the market into perspec- 44 Maritime Reporter
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June 2023 - Marine News page: 33
Feature Dredging Louis, Mo.; Memphis, Tenn.; Vicksburg, Miss.; and New OTHER PROJECTS AND ISSUES Orleans, La. The Corps spends around $1.5 billion each year on dredg- Eight dredges were central for maintaining a 9-foot ing in hundreds of navigation projects across the country. channel, focused on the
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August 2023 - Maritime Reporter and Engineering News page: 46
by Eastern in 2014 and will be converted at the Offshore said, will include a host of onboard amenities typical company’s 300-acre Allanton Shipyard in Panama City, Fla. It of a newbuild SOV. is expected to be available in the spring of 2025. Hornbeck is not the ? rst U.S. offshore vessel owner to con- The
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August 2023 - Marine News page: 44
Elected chael Hume as president. The International Maritime Organiza- tion’s Council (IMO) elected Arsenio An- tonio Dominguez Velasco from Panama as Lefton Joins RWE Velasco McDonald its secretary-general. He will take of? ce on RWE has hired former BOEM head January 1, 2024, for a four-year
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May 2023 - Maritime Reporter and Engineering News page: 25
as hundreds of hours of use in a number pre-programmed waypoints. The video frastructure that cannot be safely or effec- of civilian missions ranging from com- and sonar imaging from the MANTAS tively inspected by humans. For example, mercial canal and dam hydrography, to or Devil Ray can be sent
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Marine News April 2023 • Volume 34 Number 4 Contributors 3 2 1 4 7 5 6 8 1 Tom Ewing uting writer for Marine News and MarineLink.com. is a freelance writer specializing in marine, energy and envi- ronmental issues. He contributes regularly to this magazine. 5 Philip Lewis is director of research
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March 2023 - Marine Technology Reporter page: 31
“deep blue carbon.” Can you There are also two exciting things coming up. First, the Our explain what this is and why we should care? Ocean Conference in Panama, where we’re proposing a side As you know, I believe that the carbon budget and climate event to start talking about the importance of ocean observa-
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February 2023 - Maritime Reporter and Engineering News page: 41
In the Shipyard Latest Deliveries, Contracts and Designs RoRo Ferry MV Tennor Ocean sets Sail MV Tennor Ocean, newbuilding 782, from Germany’s shipyard Flensburger Schiff- bau-Gesellschaft recently set off on test voyage on the North Sea and Baltic Sea. The 210-m RoRo ferry is on the move to Dock 3 at
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February 2023 - Marine News page: 5
Marine News February 2023 • Volume 34 Number 2 Contributors 1 2 3 4 5 6 1 Mike Corrigan 4 Robert Kunkel, is a former energy industry executive. He joined Inter- president of Alternative Marine Technologies and First ferry in 2017 after 14 years in leadership positions at Harvest Navigation
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. . . . . . . . . . . . . . . . . . . . .www.omnithruster.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(330) 963-6310 10 . . . . .Panama Maritime Authority . . . . . . . . . . . . . . . . . . . . . . . . . . .www.panamashipregistry.com . . . . . . . . . . . . . . . . . . . . . . .
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FEATURE FLOATING POWER BARGES Siemens Energy While the Norwegians look offshore with concepts that also serve shoreside industry and potentially “regions”, Sie- mens Energy’s ? agship FGPP, Sea? oat, keeps evolving and “is relevant for all locations with access to the sea or large river systems”.
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November 2022 - Marine News page: 71
vessels. The deal could be worth up to $3.33 billion if all options are exercised. Shortly after in July, Eastern Shipbuilding Group, based in Panama City, Fla., under contract to build the ? rst four OPCs for stage one of the program, ? led a protest with the Government Accountability Of? ce (GAO)
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November 2022 - Marine News page: 26
Column Great Lakes hours, or 28 days, due to ice conditions on Lake Superior, CCG ? eet aging out and suffering casualties at an alarm- Lake Huron, Lake Michigan and in Green Bay and a lack ing rate. Over 60% of the government icebreakers stationed of icebreakers to meet the needs of commerce. on the
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Marine News November 2022 • Volume 33 Number 11 Contributors 1 2 3 4 5 6 7 8 1 Tom Ewing global energy, maritime and offshore oil and gas sectors. is a freelance writer specializing in marine, energy and environmental issues. He contributes regularly to this 5 Barry Parker magazine. of bdp1