Yacht Insurance News
Canal Cruising Update IV
Panama, Suez and Nicaragua Canals

Panama Canal    Suez Canal    Nicaraguan Canal
The Panama Canal- Progress Report January, 2015


February 15, 2015 - The big news for the Panama Canal expansion is that the project is about 85% complete and moving steadily ahead for completion in early 2016. The 5 billion plus dollars project is spurring economic progress for Panama, surrounding Latin American countries and the United States. Increased ship sizes transiting the Panama Canal has brought numerous upgrades to port facilites, rail connections and other facilites to handle the increased volumne of container goods in the United States on the East and Gulf coasts.
Panama Canal Progress

The new "gates" for the Panama Canal expansion are being installed. The eight new gates for Pacific Ocean side of the project have been delivered and are being installed with the Atlantic side installation is nearing completion.

New Panama Canal Gate Sliding into PlaceInstallation of the new Panama Canal Gates


The Suez Canal Expansion
Suez Canal Egypt


February 25, 2015 - Egypt has reached a 67.5% completion rate for the Suez Canal expansion. Adding another canal parallel to the original canal is going to allow two way traffic where none was available before speeding transit time.

The Suez Canal is projected to increase revenue to 13.5 billion per year not including new shore support facilites included in the project. Completion of the Suez Canal is expected to be in August of 2015

Proposed Route of the Nicaraguan Canal
Nicaraguan Canal

February 25, 2015 - Nicaragau with its Chinese investors had its ribbon cutting ceremony at the Pacific entrance of the proposed canal to kick off the canal project. Details regarding the route, environmental, socail and economic impact have slowly come to light. The details have been hard to come by as the joint company of Chinese and Nicaraguans have a history of non-transparency.

Seen below is the proposed route map and cross section for the Nicaragua Canal. The purchase of the land along the route has not been completed and is drawing controversy as the Nicaragauns along the route oppose the canal project while those outside the route approve by over 70%.

Proposed Route
Proposed Canal Route

Cross Section of Canal
Cross Section of Canal


For many more drawings and projections of the Canal project see the PDF file below.
Download PDF File Nicaragua Canal Project

Nicaragua TV Report


The 50 billion dollar project is expected to take 5 years to construct but only access roads and preliminary surveying has been done to date.

W.R. Hodgens Marine Insurance specializes in yacht insurance for all yachts. For a fast quote for your yacht, go to our Yacht Insurance Quote Form .

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