INTRODUCTION The building of the Panama Canal took 34 years: 1880 to 1914. Panama Canal Authority (ACP): The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. The Ship Canal stretches to 77.1-kilometre (48 miles): that connects the Atlantic Ocean (via the Caribbean Sea) to the Pacific Ocean. The width of the canal is more than 70 meters(200 feet); the draft of the canal is more than 20-23 meters (65-80 feet ).
LAYOUT The canal consists of artificial lakes, several improved and artificial channels, and three sets of locks.
If the ship enters through the Pacific Ocean side, it travels 13.2 km up the channel to the Miraflores locks.The two-stage Miraflores lock system, including the approach wall, is 1.7 km.The artificial Miraflores Lake is the next stage, 1.7 km long.The single-stage Pedro Miguel lock, which is 1.4 km long.After the lock, the ship should move forward a distance of 45.3 km passing through the Gatun Lake towards the Gatun locks.The Gatun locks, a three-stage flight of locks 1.9 km.A 3.2 km channel forms the approach to the locks from the Atlantic side.Limón Bay (Bahía Limón), a large natural harbour, provides anchorage for some ships awaiting passage and runs up-to 8.7 km to the outer breakwater.Thus the total length of the canal is 77.1 km (47.9 miles).
CAPACITYThe Panama Canal set a mark in its history as it reached a new tonnage record of 333.7 million Panama Canal tons (PC/UMS) during fiscal year 2012 which concluded on September 30. This achievement highlights the value of Panama and its significance as a link in the chain of global trade.
TRANSIT BY VESSEL TYPE 3,253 Transits 113.7 Million PCUMS Tons Registered 11.5 Million TEU capacity but 5.3 Million TEU were transported Revenues totalled B/889.97 Million 1,479 Transits 12.6 Million PCUMS Tons Revenues totalled B/58.1 Million
2,322 Transits 49 Million PCUMS Tons Revenue totalled B/196.4 Million 3,285 Transits 80 Million PCUMS Tons Revenue totalled B/312 Million
633 Transits 34.7 Million PCUMS Tons Revenue totalled B/136.4 Million 225 Transits 310,991 Billed Passengers Revenue totalled B/46.1 Million revenue totalled B/400.72 Million
CANAL EXPANSIONThe Panama Canal expansion project would largely decreasethe instances of bottlenecks & lower the average transit times.The proposed plan for widening and deepening andexcavating is supposed to increase the capacity to42 vessels per day, which could even be extended to51 vessels per day by 2020.The Canal expansion ensures a robust future forPanama’s maritime route, boosts the national economy and enhances safety and efficiency.
Colombian coal and Venezuelan oil may become more attractive to buyers in China.The U.S. Gulf may source oil from Ecuador (instead of Nigeria) and liquid natural gas (LNG) from Peru.Shipper Math – Maximize revenue Minimize transportation expenseCarrier Math – Maximize revenue Maximize load factor Maximize profitability
TECHNICAL FACTS#1: Upon the Canal’s completion, a ship traveling from New Yorkto San Francisco saved 7,872 miles by using the Panama Canalinstead of going around South America.#2: The Canal transports 4 percent of world trade and 16 percent of total U.S. trade.#3: The United States uses the canal the most, followed by China, Japan, Chile and North Korea.#4: Between 12,000 and 15,000 ships cross the Panama Canal every year.#5: Lowest toll ever paid was 36 cents by Richard Halliburton & Highest was paid by a Disney cruise ship $330,000.