Yacht Insurance News
Canal Cruising Update II
Panama, Suez and Nicaragua Canals

Panama Canal    Suez Canal    Nicaraguan Canal
The Panama Canal- Updated Lock Gates Design

The Panama Canal has made progress to be fully operational in early 2016. Dredging for both Pacific and Atlantic entrances are done and other tasks such as new locks, raising Lake Gatun are nearing completion at high 80's to low 90's in percentage of completion.

The video above shows the challenge of the mammoth project and the challenges of new gates for the locks. The new locks have sliding gates, much like pocket doors rather then the swinging gates on the old locks. These near nuetral bouyancy gates slide in and out perpendicular to the lock.

In addition, there are more locks per location allowing more vessels to transit the canal at the same time.

The Suez Canal Expansion
Suez Canal Egypt

Egypt has announced that the Suez Canal will be privately financed as their sale of 8.5 billion USD was successful. The Suez Canal is a great source of pride among Egyptians, so much so that 82% of the bonds were bought by private individuals in only 11 days. The bonds have a favorable interest rate but patriotism was the driving force.

The new Suez Canal will be built where needed in parallel with the old canal and does not have the expense of new locks as the Panama and proposed Nicaragua Canals. Still, the project is a major undertaking for Egypt and expected to reap more benefits from infrastructure investments as well.

Proposed Route of the Nicaraguan Canal
Nicaraguan Canal

The Nicaragau Canal is still in the testing and proposal phases rather than construction. An environmental study has been done by a world reputed firm but its release has been repeatedly delayed. Details of the final route for contstruction have also been not revealed yet the Nicaraguan government and the Chinese contractor claim construction will start in December of 2014.

The Nicaragau Canal also has massive infrastructure plans in the making including sea ports, an international airport, and intermodal track and road transportation.

W.R. Hodgens Marine Insurance specializes in yacht insurance. If you have plans for a trans canal trip or any other cruising, go to our Yacht Insurance Quote Form for a fast quote for your yacht.

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W.R. Hodgens Marine Insurance, Inc.
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Ph: 954-523-6867 Fax: 954-523-6488
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