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Posted by Maria Arias on June 26, 2017
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Panama Canal Expansion celebrates its first anniversary

The expansion of the Panama Canal, celebrates its first year of operations on Monday, June 26, 2017.

The Panama Canal Authority (ACP) announced that it will give a recognition to the neopanamax vessels that will follow the expansion in commemoration of this first anniversary, in which the forecasts have been exceeded, according to Jorge Quijano in a press conference.

Quijano said that the positive performance of the expansion, which has traveled around 1,500 vessels since its opening on June 26, 2016, will allow the ACP to deliver to the State this fiscal year 1,601 million dollars, 60% more than the 1,013 million contributed in the previous period.

The ACP reported that in this first year of operations, the daily average of neopanamax through the new locks is 5.9 vessels, and noted that “15 line services have been relocated by the enlarged Canal since its inauguration.”

Monday, June 26, 2017, is scheduled to transit five vessels with the capacity to transport between 10,500 and 8,500 containers, including the Valparaíso Express, the shipping company Hapag Lloyd and which will run for the seventh time the expansion, according to official information.

Panama Canal Expansion

The Panama Canal Expansion was the largest infrastructure project since the Canal’s opening in 1914. The Expanded Canal provides the world’s shippers, retailers, manufacturers and consumers with greater shipping options, better maritime service, enhanced logistics and supply-chain reliability.

Since its inauguration on June 26, 2016, the Expanded Canal increases the waterway’s capacity to meet the growing demand of maritime trade using larger vessels, which means that the Panama route provides important economies of scale.