W.R. HODGENS MARINE INSURANCE, Inc.
Yacht Insurance Specialists
Canal Cruising Update XII
Panama, Suez, Nicaragua Canal Updates
Panama Canal Expansion- 2 min. Time Lapse
Nov. 14, 2016- The Panama Canal was completed late and with costly over runs has never the less earned more and is operating at peak efficiency. Rain has filled Gatun Lakes and the reservoirs allowing the canal to run at maximum depth. The locks are working properly and the country is enjoying higher revenues. Most interesting is that traffic and cargo Asia to the West has increased for the Panama Canal at the expense of the Suez Canal.
There have been problems with ships striking the walls of the locks (image below) and the infrastructure plans to expand shipping terminals, etc. are moving slowly.
Panama Canal Ship Damaged
Lego Panama Canal Locks
Suez Canal Expansion
Image Daily News Egypt
With the introduction of the Canal Expansion came the announcement that Egypt would develop new cargo terminals, transportation and minerals. These have been slow to start due to financing and government bureaucracy.
Proposed Route of the Nicaraguan Canal
W.R. Hodgens Marine Insurance provides this Canal Report. If you are cruising a canal or any other ocean or waterway, W.R. Hodgens Marine Insurance will provide the best coverage for the best price. Use the Yacht Insurance Quote Form for quick results or Contact Us for more information.