Construction on the $50 billion Nicaragua canal has been delayed again and work will not begin until late 2016, according HKND Group, the Chinese company with exclusive rights to build and operate the waterway.
18 Nov 2015
The Panama Canal Authority expects to find out next month whether repair and reinforcement of concrete gate sills can be completed in time to avoid delaying the scheduled April opening of the canal’s historic expansion.
18 Nov 2015
The vessel backlog that’s plagued the Panama Canal since mid-October remains above normal levels, but canal authority officials say wait times are now diminishing since they started taking steps to expedite traffic through the waterway.
12 Nov 2015
Widespread predictions that an expanded Panama Canal will set off a boom in Panamanian transshipments are unlikely to pan out, according to port analyst Asaf Ashar.
09 Nov 2015
Nicaragua’s government has long claimed that an economic feasibility study by blue-chip U.S. consultancy McKinsey & Co. is crucial to enticing Western investors to its $40 to $50 billion canal project. However, it has been confirmed that McKinsey has not worked on the Nicaragua Canal project since 2014, raising new questions about the Nicaraguan government’s public statements as well as the project’s chances of attracting Western investors.
04 Nov 2015
Ocean carriers are canceling services and telling some shippers they can expect weeklong delays due to considerable and unexplained congestion through the Panama Canal.
25 Oct 2015
Since its relaunch in 2014, SeaLand has taken over Maersk Line’s services and set up new loops to serve the Central American and Caribbean region.
25 Oct 2015
When the Panama Canal opens its new locks to larger post-Panamax ships next year, the six countries of Central America will gain better access to growing global markets for their exports of food products and fresh produce in addition to their traditional markets in the Americas.
23 Oct 2015
As the strongest hurricane on record in the Western Hemisphere barrels toward Mexico’s Pacific coast, the country’s largest container port has suspended operations, thousands have fled the coastline and the nation is bracing for impact.
19 Oct 2015
APM Terminals is banking on a doubling of Costa Rica’s refrigerated container exports over the next 15 years and improvements in reefer technology to fuel its ambitious investment in the deep-sea Moin container terminal.
18 Oct 2015
Charter rates are dropping fast for post-Panamax ships because of low demand, with rates for some midsize vessels dropping to 2013 levels.