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

Panama Canal    Suez Canal    Nicaraguan Canal
The Panama Canal- Progress Report October, 2015

August 4, 2015 - The Panama Canal has reached 93% of completion with full operation expected in 2016. Unfortunately, a crack has appeared in the Pacific site Cocoli Locks at the "sill" of one of the lock's gates. The contractor Grupo Unidos por el Canal (GUPC) and the Panama Canal Authority have declared the Cocoli Locks will be repaired in time for the scheduled 2016 opening of the Canal Expansion Project.

Panama Canal- Crack in Pacific Side Cocoli Locks

Work continues or has been completed for support facilites such as deepening ports with larger ship unloading as well as rail and road improvements in the USA on the east and west coasts. These port cities include Miami, Savannah, Baltimore and Norfolk on the east coast and San Diego and Seattle on the west coast.

Proposed Route of the Nicaraguan Canal
Nicaraguan Canal

October 23, 2015 - The Nicaragau Grand Canal has commenced with aerial surveys as a step towards actual construction of the canal and infrastructure. Before starting on the canal itself, the HKND Group must also build a seaport, airport and other facilities to accommodate incoming construction equipment and supplies.

Many doubts have been raised if the entire project is feasible from an economic view. There has been little private investment and the government of China is not supporting the project.

Documentary for the Grand Canal of Nicaragua

The Suez Canal Expansion
Suez Canal Egypt

October 23, 2015 - Egypt has completed the dredging of the Suez Canal expansion. The canal was formally opened in ceremonies August 6, 2015. Egypt built an additional 21 miles of new channels and 22 miles of new dredging of existing water ways to accommodate a 2 lane canal as opposed to a one way canal previously used. The Suez Canal is the largest contributor to Egypt's economy with annual income exceeding 5 billion US dollars.

Suez Canal Opening Ceremonies

Though the many additional support facilites, industrial zones, transportation, etc. are still in progress the Egypt government and people are proud to have made the first goal of the canal completion on time.

This news is brought to you courtesy of W.R. Hodgens Marine Insurance, yacht insurance specialists for all oceans, canals, lakes and rivers. Go to the Yacht Insurance Quote Form for a fast quote.

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