Since the Panama Canal connected the Atlantic Ocean to the Pacific in the early 20th century, it changes forever the history of global shipping. Before the canal was completed, ships had to go around the southern tip of South America, close to the Falklands coal fueling deposits, and a much longer and more dangerous route.
U.S. President Donald Trump on Tuesday urged Florida officials to open an Atlantic Coast port to a Dutch cruise ship stuck at sea with a deadly coronavirus outbreak onboard, urging the governor to drop his opposition.
United States Senator Rick Scott is calling for protective measures for Floridians ahead of the Holland America’s Zaandam and Rotterdam expected arrival at Port Everglades.
Four passengers have died on a cruise ship off the Pacific coast of Panama with more than 130 others aboard suffering from influenza-like symptoms, at least two of whom have coronavirus, the vessel's operator said on Friday.
Panama opened the long-delayed US$5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping industry and a heated battle over billions in cost overruns.
The Panama Canal Authority, or ACP, said on Wednesday it would be impossible to meet the demands of Italian builder Impregilo, which has called on the government agency to make an additional payment of up to 1 billion dollars to cover cost overruns affecting a project to expand the international waterway.
Panama Canal officials offered Tuesday to share the burden in a 283 million dollars fund to end a spat with a consortium threatening to halt the waterway's expansion over huge cost overruns. The proposal came after two days of intense talks under mediation of a Spanish cabinet minister who flew to Panama City for emergency meetings aimed at preventing a shutdown of the major project.
Spain stepped in on Friday to try to resolve a cost dispute over the expansion of Panama's canal, which has triggered a sell-off in the shares of Sacyr SA, the Spanish builder leading the project. Spain's Public Works minister, Ana Pastor, and Sacyr Chairman Manuel Manrique are due to travel to Panama on the weekend, Panama's president, Ricardo Martinelli, said.
Following the recommendation from the Board of Directors of the Panama Canal Authority (ACP), the Panamanian government approved this week the proposal to restructure the Panama Canal's pricing system.
Heavy rains have forced the temporary suspension of traffic along the Panama Canal, the major shipping waterway connecting the Atlantic and Pacific oceans which handles 5% of global trade.