(American Experience). On August 15th, 1914, the Panama Canal opened, connecting the world’s two largest oceans and signaling America’s emergence as a global superpower. American ingenuity and innovation had succeeded where, just a few years earlier, the French had failed disastrously. But the U.S. paid a price for victory: more than a decade of ceaseless, grinding toil, … [Read more...]
Officials project increase in Canal traffic in 2011
(prensa.com) Transits through the Panama Canal will increase slightly next year due to the upturn in world trade. This, according to the administrator of the waterway, Alberto Alemán Zubieta. "The first quarter of the [2011] fiscal year, which is set to end on Dec. 31, has been very positive and has recorded nearly 4 million tons more than what we had expected," said … [Read more...]
Panama government dismisses criticism of canal construction
(TheOlympian) The Panama Canal administrator says a consortium building new locks won the $5.2 billion contract in a fair and open process. Alberto Aleman Zubieta says the work is on schedule and has the support of the Panamanian government. Aleman spoke to reporters Wednesday in rebuttal to a U.S. diplomatic cable released by WikiLeaks quoting Panamanian President … [Read more...]
Wiki Leaks: U.S. Tried to Block Sacyr’s Panama Canal Contract
(Bloomberg) The U.S. may have tried to prevent Spain’s Sacyr Vallehermoso SA from winning a 2.35 billion euros ($3.1 billion) contract to expand the Panama Canal, El Pais newspaper reported today, citing WikiLeaks, an organization that publishes secret documents on its website. The pressure from the U.S. didn’t prevent Sacyr from winning the contract, the newspaper said. … [Read more...]
Panama Canal expansion 19 percent completed
(prensa.com) The expansion of the Panama Canal was 19 percent complete at the end of September, officials with the Panama Canal Authority have said. The authority estimates the work will be 31 percent complete by the end of September 2011, if there are no major delays. The project, which began on Sept. 3 2007, is due to be finished in 2014. It will cost $5.25 … [Read more...]