Panama Canal fights drought with $8.5B plan to secure future trade [Yahoo! Finance]
COSCO SHP HLDG UNSP/ADR (CICOY)
NASDAQ:AMEX Investor Relations:
coscointl.com/en_ir_ho.asp
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Source: Yahoo! Finance
terminals, a gas pipeline, and a water-reservoir project — is designed to keep the 110-year-old canal competitive as global trade patterns and climate pressures evolve. In an interview with FreightWaves at the Houston International Maritime Conference , Vásquez said the Panama Canal Authority (ACP) is moving forward with two new container terminals — Corozal on the Pacific and Telfers on the Atlantic — expected to add 5 million to 6 million twenty-foot equivalent unit (TEUs) of annual capacity and create roughly 17,000 jobs. “There is a very good potential of having a significant increase of at least five to six million boxes per year in the remainder of this decade,” Vásquez said. “The existing port terminal capacity is at the limit.” The initiative, now in a consultation phase with major maritime players, forms part of a ten-year strategy to expand infrastructure while reducing dependence on water-intensive operations. ‘Full house' interest from global operators Vásquez sa
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