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 CANAL EXPANSION CONTRACTS EXCEED $4 BILLION
Jul 27 2010 12:10PM
The Panama Canal Authority has reported that it has issued contracts worth more than $4 billion for the expansion of the waterway. That figure was published in the 15th quarterly report of the expansion. The report stated that, as of June 30, the Canal Authority had issued contracts valued at $4.041 billion. The largest portion of the project is the construction of the third set of locks. The entire project is expected to costs about $5.5 billion. It is due to be finished in 2014.

INCREASES THE SUPPLY OF TUGBOAT SERVICES
Jul 20 2010 8:45AM
The expansion project Panama Canal is a bait to attract new investment to the country. This is because the construction of the third set of locks is expected to increase the transit of a greater number of ships through the Canal. These investments included the establishment of companies that display a business opportunity in the maritime transport chain, for example, the tugs. These boats attend vessels for docking or undocking at ports in both the Atlantic and Pacific. Currently, the service of tugs in ports is offered by Smit Harbour Towage Int'l, Inc., Svitzer Panama, Inc., Virtual Logistic Marine Services Inc. and Boluda. Among this group of companies there is a fleet of about 20 tugs, serving the ships in Colón, Balboa and Bocas del Toro. As of July 27, KTK Panama, SA, a company based in the Netherlands Antilles also with operations in Curacao, Venezuela and Colombia, officially will begin operations in the country. KTK, who has 25 years operating in the Caribbean, will begin operations with the arrival of the tugs KTK Tribon AND KTK Barakuda, according to the company statement. The two tugs will provide services at ports of Manzanillo International Terminal and Colon Container Terminal, which operates in the Bay of Manzanillo, Colon. "With the opening of KTK Panama, SA, the company intends to take possession and affirmed in the growing market for shipping services in Panama," the statement said. Policy added that KTK is convinced that Panama is a great growth potential and is prepared to participate in this market. His idea is to project into the market as an initial step to meet the demand of vessels that are expected from 2014, when inauguration of the third set of locks is expected, a source said. Panama has qualified perssonel to operate these vessels. The president of the Panamanian Association of Marine Officers (APOM) Ernesto Ayarza informed that KTK has offered better working conditions for workers who will operate the tows. However, raised concerns because, like all other companies offering this service are not complying with 12 hours of work and 12 hours of rest. Some companies apply three working days and three days off, as is the case of Smit. KTK agreed to implement the system of seven working days and seven days off work. This type of working hours exposed workers to a fatigue accident, said Ayarza. The ideal is that workers rest at least 10 hours per day, as established in international conventions that apply in other countries, even in the Panama Canal Authority.
ACP CONTRACTS HAVE BEEN GIVEN FOR MORE THAN $ 4 MILLION
Jul 19 2010 1:55PM
Some $ 4,440,597 awarded the Panama Canal Authority (ACP) in leases for rental of heavy equipment for the work of expansion of the waterway and the third set of locks, which has moved this important construction sector, both the opening of new businesses, the relocation of foreign companies and the growth of established operations in the country. Of this total amount, which publishes the report of the ACP in the first quarter of this year, nearly $ 3,445,823 have been awarded to the company Cardoze & Lindo, SA, while Transport and Equipment, SA contracts reached $ 371,754, Commercial Motors, for $ 121,002, and Industrial Buckets Panama SA, for $ 144,458, among some of the 15 companies that are part of the list. According to Paul Bernal, of the Facilities Maintenance Unit and Civil Works of the Atlantic, the increase in jobs related to soil movement, which has resulted in supplier companies upgrade, renew and expand its fleet of equipment, and even demand has given way to new participating Companies. However, Edgar Garcia, Facilities Maintenance and Civil Works, estimated that the equipment disponibility has declined although there are more companies in the market and those that existed have been expanding their fleets. The ACP has determined that the rental rate for this equipment is heavy-machine per hour worked, and must include operational and maintenance costs. Additionally, the entity provides the company a minimum of two hours for availability of equipment, per working day of work . It is clear from the specifications tendered that,after the service has started and if it stops for periods longer than one hour from causes within the control of ACP and the equipment is capable of being operated and the representative of the ACP will prompts the operator to remain on site, the entity will pay 100% of the agreed rate in the first hour since the work sttoped and 50% of the agreed rate for the other hours, until the end of the day or until the operator has being given permission to leave. " To George William Cardoze, general manager of Cardoze & Lindo, their participation in the construction of the third set of locks exceeds 95% of the total supply of equipment required by the Canal soil moving, tractors, excavators and trucks off road among others. "To achieve this significant participation, we prepared well in advance, investing in human resource training, infrastructure, tools, inventory and personnel," argued the executive. He also mentioned that since 1928 Cardoze & Lindo is the representative in Panama from the maker Caterpillar and has supplied equipment and services to the consortium United Group for the Canal; Constructora Urbana SA, MECO, Jan De Nul, ICA and CILSA. Another company that has participated in these contracts is Panama SA Industrial Buckets "Right now there is much competition between local and foreign companies that have come to settle in Panama to offer their services for heavy equipment rental, following the Canal expansion," said Melquiades Quiel, sales manager of Industrial Buckets Panama SA Quiel ensures that the company has three years in Panama and only provided a truck to the work of the Canal, since December last year until July 2010, for an amount close to $ 144,458.
ACP CONTRIBUTE $839 MILLION TO THE TREASURY
Jul 13 2010 8:40AM
The budget of the Panama Canal Authority (ACP) for the fiscal years 2011, amounting to two thousand 106 million dollars, provides inputs to the National Treasury by $ 839 million. This contribution increases by $ 85 million over the budgeted fiscal year 2010 ending on September 30. For the fiscal year (October 1, 2010 to September 30, 2011), the ACP has budgeted income from tolls of one thousand 610 million dollars, revenue from services related to transit, $ 333 million dollars and other income , which mainly include water production and electricity for 140 million dollars, in addition, $ 22.4 million dollars in interest earnings. The chairman of the board of the ACP and Minister for Canal Affairs Romulo Roux, presented the budget to the Cabinet Council, accompanied by the administrator German Alberto Zubieta and Executive Vice President of Administration and Finance Francisco Miguez. The draft budget for 2011 ACP includes new investments by U.S. $ 136.3 million for the expansion program in order to continue the work of the contract for design and construction of locks, dredging and excavation of new channel. Also includes U.S. $ 234.9 million for investments in modernization and improvement of the existing Canal to the acquisition, mainly of tugs and a mechanical type backhoe dredger, among others. Operating expenses, applied to maintenance and operations of the Canal, will be at U.S. $ 650.8 million and include mainly staff costs, materials and supplies, fuel for operation and for power generation and service contracts. Due to the effects of the economic crisis, which has had a hard blow to shipping, the budget of the ACP held a slight growth in recent years. In 2008, the approved budget was of two thousands 7 million dollars, in 2009, two thousand 105 million dollars and in 2010, the approved budget was of two thousand 17 million dollars, according to records of the entity.
$65 MILLIONS TO SUPPLY CEMENT TO PANAMA CANAL EXPANSION
Jul 7 2010 8:40AM
The United Group for the Canal, which will build the third set of locks of the Panama Canal, has begun to contract the inputs that will be used for this work. Cemento Panama, subsidiary of Argos of Colombia signed a $65 million contract to supply cement and other products to the Consortium integrated by Spanish builder Sacyr ValleHermoso and Constructora Urbana, S.A. of Panama. Although it has not being specified how many tons will be dispatched by the cement company, delivery will start in December and will culminate in the first quarter of 2014. Cemento Panama invested $100 million over the past five years to expand its capacity to 1.6 million tons of cement per year. Argos bought the participation of Holcin, Switzerland in Cemento Panama last year in order to control 100% of the shares.
THIRD SET OF LOCKS - ACP BUILD CENTER TO SEE ENLARGEMENT
Jul 6 2010 8:16AM
The main market interested in observing the work of expansion of the route are tourists who travel on cruise ships transiting the Canal. A visitor center to watch the progress of the work of planning the expansion of the Canal of Panama Canal Authority (ACP). Although the idea was thought to be promoted from the proposed expansion, the administration had not defined to avoid colliding with the chosen location of the development work. After completing almost 100% of contracts for the expansion project, the ACP has decided to place a visitor center on the Pacific side and one on the Atlantic side. The peaceful look, close to the field offices of the ACP for the project Cocolí locks, will have capacity for 860 people and has an observation tower. The goal is to be ready to operate in July 2012. Meanwhile, the Atlantic viewpoint will be located on the east side, before crossing the Gatun Locks and be capable of one thousand 272 people. With open terraces, a cafeteria, exhibition area, parking and ecological trails. Operation is planned in April 2011. In both cases convene bidding process. The centers will be located in a large area where visitors can observe the progress of the works, including excavation of dry material, dredging and construction of the third set of locks on both sides. The main market for attracting visitors to these centers are the cruise ships transiting the Canal and who have shown interest in seeing the place the development of the work of one of the major works of Latin American investment. Currently, the Panama Canal has a visitor center at Miraflores and one at Gatun, where tourists can observe the transit of ships through the locks. However, since these items can not observe the development of the extension work that started in 2007 and should conclude in 2014, when the current Canal celebrates 100 years of operations. In the Pacific side are working on the third and fourth phase of dry excavation for the navigation channel that will communicate the new locks to the Gaillard Cut. On the Atlantic side, the consortium Canal Uniting for the work ahead for the design and construction of the new locks. According to the ACP, between 2011 and 2012 may develop a greater flow of activities in the construction of the project and could be the highlight of working staff. "All this activity is of interest to know people and so they decided to build visitor centers," said a source from the ACP. In addition to allowing the public to see these works, the ACP also keeps the images and information on the engineering work that will form part of the records of the entity, which also treasured documents of work undertaken by the United States in the early twentieth century
NEW HOST IN THE PACIFIC
Jul 6 2010 8:15AM
Singapore Ports Authority (PSA) advances in the construction of the second container port in the Panamanian Pacific with the capacity to mobilize 450 000 TEU (20-foot containers) per year. According to a representative of the company the first phase represents an investment exceeding 100 million dollars. PSA sublet in an amount undisclosed, 30 acres in Rodman port in 2002 was granted by concession to a consortium Parque Industrial Maritime S.A. (Pimsa). This is PSA’s first investment in America and according to projections by the company will boost trade between Asia Europe and America.