Word: panamax
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...paltry $500. Though the pace of the drop in rates has slowed, there are signs that charter prices have still not bottomed out, having dipped below the record lows of the 2002 stock-market crunch. According to London ship broker Clarkson, a 3,500-TEU gearless Panamax vessel - the largest vessel that can go through the Panama Canal - pulls in $6,500 a day, down 34% on the $9,500 it was charging in February...
...technical control over what will be the nation's most important order of business during his five-year presidency (he is constitutionally limited to one term). That's the Panama Canal expansion, a massive dig that will add a third set of locks able to handle the supersize, "post-Panamax" ships. Those vessels can hold up to 12,000 20-ft.-long containers and are considered the future of commercial-cargo shipping...
...plan calls for adding a third set of locks, wide enough to serve the supersize, post-Panamax vessels--those carrying more than 5,000 20-ft.-long containers--that many consider the future of commercial-cargo shipping. The canal's Old World competitor, Egypt's Suez Canal, can already accommodate the bigger vessels. A resized Panama Canal could be a boon to U.S. ports on the Gulf and East coasts, which currently handle post-Panamax cargo directly to and from Asia only via the lengthier Suez route. Says Gary LaGrange, CEO of the Port of New Orleans: "This will...
Still, the biggest problem is traffic jams: more than 14,000 ships transit the canal each year, stretching its outdated capacity. And a growing share of that freight can't cross Panama at all. By 2010, the number of post-Panamax vessels in the global commercial fleet is expected to jump 74%, to about 700, and by 2011, they will probably account for half the world's oceangoing commercial-cargo capacity, according to the World Shipping Council in Washington. The expansion design, approved by Panama's Congress last spring, would dig a new approach channel about five miles long just...
| 1 |