Panama Canal draft restrictions now approved for ships
PANAMA Canal Authority (ACP) says new draft restrictions on ships are to be implemented next month due to falling water levels of lakes along the waterway.
The ACP said periodic warming of the tropical Pacific Ocean, changes the pattern of rainfall in many regions.
"In this case, it has triggered a drought in the canal's watershed causing the water levels of Gatun and Alhajuela Lakes to fall below their average for this time of year."
Vessels using the waterway will have to comply with a maximum draft at 11.89 metres (39 feet) beginning April 18, and the ACP said these temporary and preventive measures have been taken to ensure the continuous and safe operation of the canal during this period.
Vessels loaded to drafts over 11.89 metres (39 feet) before March 21, will have their draft restriction waived for transit, but vessels loaded after that date will have to comply with the new draft limitation.
"Draft restrictions will be implemented in 15-centimeter (six-inch) decrements at a time, with each restriction announced at least four weeks in advance," the ACP added. Hong Kong's Nicaragua canal building starts in August with loading dock
THE construction on the fuel terminal and a wharf within the US$50 billion Nicaragua canal project is scheduled to start in August, Bloomberg reports.
According to the Hong Kong Nicaragua Development Group (HKND) vice president KW Pang, the construction will begin with the building of a port facility to import machinery needed for dredging.
Financing would come from debt and equity sales and a potential IPO, said Bloomberg. Money would come from numerous international investors and was not dependent on the economic backing of China, as it has been thought to be.
HKND, with its head office in IFC2 in Central Hong Kong, said construction was scheduled to start in 2015 and was expected to be completed in five years with the canal becoming operational by 2020.
But that was delayed when the company said it needed to fine-tune the project.
Nicaragua Grand Canal is a proposed 172-mile waterway, 230 to 520 metres wide and 27.6 metres deep, making it longer, wider and deeper than the 51-mile Panama Canal to the south.
Based on the project design, it should include six sub projects: the Canal (including locks), 2 ports, a free trade zone, holiday resorts, an international airport and several roads. In addition, there will be construction of a power station, cement factory, steel factory and other related facilities.
HKND Group received an environmental permit from the Government of Nicaragua for the canal project in November 2015 having determined that it would have a positive environmental and social impact.
The approval came despite environmental concerns voiced by the local population and several NGOs claiming the project would pollute water supply.
PANAMA Canal Authority (ACP) says new draft restrictions on ships are to be implemented next month due to falling water levels of lakes along the waterway.
The ACP said periodic warming of the tropical Pacific Ocean, changes the pattern of rainfall in many regions.
"In this case, it has triggered a drought in the canal's watershed causing the water levels of Gatun and Alhajuela Lakes to fall below their average for this time of year."
Vessels using the waterway will have to comply with a maximum draft at 11.89 metres (39 feet) beginning April 18, and the ACP said these temporary and preventive measures have been taken to ensure the continuous and safe operation of the canal during this period.
Vessels loaded to drafts over 11.89 metres (39 feet) before March 21, will have their draft restriction waived for transit, but vessels loaded after that date will have to comply with the new draft limitation.
"Draft restrictions will be implemented in 15-centimeter (six-inch) decrements at a time, with each restriction announced at least four weeks in advance," the ACP added. Hong Kong's Nicaragua canal building starts in August with loading dock
THE construction on the fuel terminal and a wharf within the US$50 billion Nicaragua canal project is scheduled to start in August, Bloomberg reports.
According to the Hong Kong Nicaragua Development Group (HKND) vice president KW Pang, the construction will begin with the building of a port facility to import machinery needed for dredging.
Financing would come from debt and equity sales and a potential IPO, said Bloomberg. Money would come from numerous international investors and was not dependent on the economic backing of China, as it has been thought to be.
HKND, with its head office in IFC2 in Central Hong Kong, said construction was scheduled to start in 2015 and was expected to be completed in five years with the canal becoming operational by 2020.
But that was delayed when the company said it needed to fine-tune the project.
Nicaragua Grand Canal is a proposed 172-mile waterway, 230 to 520 metres wide and 27.6 metres deep, making it longer, wider and deeper than the 51-mile Panama Canal to the south.
Based on the project design, it should include six sub projects: the Canal (including locks), 2 ports, a free trade zone, holiday resorts, an international airport and several roads. In addition, there will be construction of a power station, cement factory, steel factory and other related facilities.
HKND Group received an environmental permit from the Government of Nicaragua for the canal project in November 2015 having determined that it would have a positive environmental and social impact.
The approval came despite environmental concerns voiced by the local population and several NGOs claiming the project would pollute water supply.