Happy Monday! Welcome back to another week or ESC News Blog.
Well, you know we love an update!
We speak about the Panama Canal pretty
often in the last few months, so in regard to our pattern we thought this story
is in line with our blog. Back in
February we spoke in regard to the Panama Canal Authority announcing
they were investing in their capital investment budget. Please check out our blog on February 22,
2024, for further details.
Did anyone
happen to read gCaptain Daily Newsletter on July 10, 2024, their article
titled, “Panama Canal Expects New Water Reservoir for Ship Crossings in 6 Years”? The article speaks in regard to the Panama
Canal Authority’s announcement they are investing and planning on building a
new reservoir called, “Indio River reservoir” which is expected to cost approximately $1.2 billion and is anticipated to be in service in around six years. In addition, another $400 million will be used
to improve the adjacent areas and for their residents. The Indio River reservoir project will be
used to help the canal with maintaining the 36 vessel passages, and the improvement
is in light of what happened when a drought impacts the area. This is good news to those who use this important
waterway!
On another note,
the Panama Canal Authority also announced the current rainy weather has
improved the water table in the reservoirs, and they will be increasing the
number of transits through the waterway for both set of locks after August 6th,
2024. They will be increasing the number
of vessels to 35 passing through this important waterway is good news for the
canal, and its journey back toward normalcy. If you would like to read more of gCaptain’s
article, please click the link: Panama Canal
Expects New Water Reservoir for Ship Crossings in 6 Years (gcaptain.com).
Check out this
link, if you would like to know more about the Panama Canal, Panama Canal - Wikipedia.
If you would
like more information about these changes to schedule, please click here for
the Panama Canal Authority’s website: Home- Autoridad del Canal de Panamá (pancanal.com).
If you would
like help in looking into how to update your liquids terminal, contact us via the
email in the blog and check out our ESC website for contact
information!
We are about to be out of pocket for the next week, but we
will try to check in a few times to keep you updated on the latest news and
announcements around the energy and marine industry! We hope you have a wonderful evening, and a
great rest of your week!
**Disclaimer: You may be charged a fee to read the gCaptain’s
article. **