http://robertgirga.com/RobertGirga/panama-canal-expansion/
Panama Canal Expansion
By www. http://robertgirga.com/RobertGirga/
The nearly century old Panama Canal is getting another two sets of locks.
Locks that will allow substantially large boats to pass are being constructed on the Atlantic and Pacific ends of the canal.
This project will allow huge boats (cape size vessels) to pass through the Panama Canal instead of rounding the tip of South America.
Traffic through the canal is expected to double, bringing more income from tolls, more work, more jobs, and more prosperity to Panama.
In fact, ports along the entire eastern face of the Americas are upgrading with larger docking facilities and cranes
in order to offload cargo from the huge vessels that will soon be arriving from Buenos Aires to Mobile to Newark.
The new state of the art Panama Canal locks will have three chambers each and each chamber will have three water reutilization basins
in order to avoid excess loss of water from the canal’s central passage as ships come and go.
In addition to the new locks ACP, the administrative authority of the canal, is widening and deepening existing navigation channels
in both entrances to the canal, the central passage of Lake Gatun, and the Culebra Cut
(a passage cut through Panama’s central mountain range).
Four dry excavation projects are required to connect the new Pacific side locks with the central navigation channel to the Culebra Cut.
This $5 Billion plus project is partly funded by foreign loans and partly by tolls from the profitable Panama Canal.
Panama assumed full control of canal operations at the end of 1999.
It converted Panama Canal operations from a public utility model to a for-profit model
and pumps far more than a billion dollars into the Panama economy every year.
In fact, a billion goes to the Panama treasury directly
aside from taxes paid by canal employees, profits from being a transportation hub, and more.
Since Panama took over canal transits are faster and more efficient,
profits are up, and ACP was able to secure loans of around $3 Billion to start the Panama Canal expansion project.
Panama was in many ways a colony of the USA for much of the 20th century.
President Roosevelt wanted a means of projecting US naval power efficiently into both the Atlantic and Pacific
and saw a Panama Canal a means of moving ships back and forth.
The US guaranteed the independence of Panama, newly free from Colombia,
in return for a ten mile wide and fifty mile long stretch of land where they built a canal.
After two world wars in which the Panama Canal served its military purpose
the US military came to see the canal as a liability instead of an asset
and then secretary of state Henry Kissinger negotiated the general terms for passing the canal to Panama.
These terms were codified under the Carter administration with the Torrijos-Carter Treaties.
2. Panama Canal Expansion
The nearly century old Panama Canal is
getting another two sets of locks.
Locks that will allow substantially large
boats to pass are being constructed on the
Atlantic and Pacific ends of the canal.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
3. This project will allow huge boats (cape
size vessels) to pass through the Panama
Canal instead of rounding the tip of South
America.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
4. Traffic through the canal is expected to
double, bringing more income from
tolls, more work, more jobs, and more
prosperity to Panama.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
5. In fact, ports along the entire eastern face
of the Americas are upgrading with larger
docking facilities and cranes in order to
offload cargo from the huge vessels that
will soon be arriving from Buenos Aires to
Mobile to Newark.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
6. The new state of the art Panama Canal
locks will have three chambers each and
each chamber will have three water
reutilization basins in order to avoid
excess loss of water from the canal’s
central passage as ships come and go.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
7. Inaddition to the new locks ACP, the
administrative authority of the canal, is
widening and deepening existing
navigation channels
http://robertgirga.com/RobertGirga/panama-canal-expansion/
8. inboth entrances to the canal, the central
passage of Lake Gatun, and the Culebra
Cut (a passage cut through Panama’s
central mountain range).
http://robertgirga.com/RobertGirga/panama-canal-expansion/
9. Four dry excavation projects are required
to connect the new Pacific side locks with
the central navigation channel to the
Culebra Cut.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
10. This $5 Billion plus project is partly
funded by foreign loans and partly by tolls
from the profitable Panama Canal.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
11. Panama assumed full control of canal
operations at the end of 1999.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
12. Itconverted Panama Canal operations
from a public utility model to a for-profit
model and pumps far more than a billion
dollars into the Panama economy every
year.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
13. In fact, a billion goes to the Panama
treasury directly aside from taxes paid by
canal employees, profits from being a
transportation hub, and more.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
14. Since Panama took over canal transits are
faster and more efficient, profits are
up, and ACP was able to secure loans of
around $3 Billion to start the Panama
Canal expansion project.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
15. Panama was in many ways a colony of the
USA for much of the 20th century.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
16. President Roosevelt wanted a means of
projecting US naval power efficiently into
both the Atlantic and Pacific and saw a
Panama Canal a means of moving ships
back and forth.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
17. The US guaranteed the independence of
Panama, newly free from Colombia, in
return for a ten mile wide and fifty mile
long stretch of land where they built a
canal.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
18. After two world wars in which the Panama
Canal served its military purposethe US
military came to see the canal as a liability
instead of an asset
http://robertgirga.com/RobertGirga/panama-canal-expansion/
19. and then secretary of state Henry Kissinger
negotiated the general terms for passing
the canal to Panama.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
20. These terms were codified under the
Carter administration with the Torrijos-
Carter Treaties.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
21. After twenty years of joint administration
the US stepped aside and removed its
military bases from Panama.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
22. A remaining vestige of the US
presence, and the fact that the USA built
the original canal, is that the size of the
original locks was determined by the size
of the largest US warship in 1914.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
23. For more insights and useful information
about retiring to, doing business in, or
investing in Panama visit
www.RobertGirga.com.
http://robertgirga.com/RobertGirga/panama-canal-expansion/
