EXCESSIVE container shipping supply will continue to drive volatile and bearish rates on key trades for some time, and a new round of orders for vessels larger than 24,000 teu could further disrupt the market, analysts told the Container Supply Chain Conference at TOC Europe in London this week. Martin Dixon, head of research products [...]
The consortium building the new locks at the Panama Canal resumed work on the project on Thursday after a two-week suspension in a dispute over $1.6 billion in cost overruns. The Grupo Unidos por el Canal agreed to restart the project after it reached agreement with the Panama Canal Authority, which said it will pay [...]
The settlement of the dispute over cost overruns between the Panama Canal Authority and the engineering consortium building its new set of larger locks leaves unanswered the questions of when the $5.25 billion expansion project will be completed and how much more it will cost in the end. Lingering technical problems with the lock gate [...]
Panama Canal expansion works was suspended today following a breakdown in talks between the canal authority and the construction consortium to resolve a bitter dispute over more than $1 billion in cost overruns. The head of the Panama Canal Authority demanded in a statement today that the consortium led by Spain’s Sacyr SA return to [...]
Panama Canal expansion, may not meet its deadline, which is scheduled by December 2015, says a new American Farm Bureau Focus on Agriculture feature. Writer Stewart Truelsen for AFBF says almost all work on the canal was suspended at the beginning of the year, with the exception of some excavation. Cranes, costing $40 million each, [...]
"We made it wider, we made it longer, we made it deeper," said Alan Krause, Chairman and CEO of MWH Global, based in Broomfield. The company is the lead designer on a much-needed upgrade to the Panama Canal. It was originally built in 1914 to help ships avoid having to travel around South America to [...]
