Panama Canal – By 2025, it will be expanded again

Panama Canal - By 2025, it will be expanded again

 

Panama Canal, In the next eight years, specifically in 2025, Panama could realize the idea of building the fourth set of locks on the interoceanic waterway. This was stated by Jorge Luis Quijano, administrator of the Panama Canal Authority (ACP), just ten days after the expanded route adjusts its first anniversary of commercial operation.

Quijano, who met with foreign press journalists in Panama, said that "before fifteen years there will be the need to build a fourth set of locks if the demand continues as it is." - Panama Canal

The regent of the ACP pointed out that a year after the expansion of the road, 'the merchandise is moving in much larger vessels than expected'.

According to Quijano, the weight and size of the neopanamax that currently cross the expanded road is 13,000 TEU, when in the studies for its construction it was proposed that for the first year ships of 7,000 to 9,000 TEU would cross, 'and we are already preparing for the neopanamax of 14,000 TEU (a length of more than three football fields) to reach Panamanian waters in Panamanian waters. and the maximum capacity that the third set of locks can receive," he said. - Panama Canal

The Canal's main customers, he said, follow the route from Asia (China, Japan and South Korea) to the east coast of the United States.

GUPC - Panama Canal

At the same meeting, Quijano revealed that the claims of the United for the Canal Group (GUPC), which built the new locks, now total $5,685 million, and said he expects them to be 'resolved with justice' between 2021 and 2022.

The ACP, Quijano detailed, has already paid in claims $ 373.6 million and the overall cost of the project has been placed at $ 5,602 million.

The administrator also recalled that the ACP delivered to the GUPC advances during the work amounting to $ 860 million, 'that if in the end they are not used they become surpluses' that belong to the interoceanic route, reported EFE.