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

Panama Canal    Suez Canal    Nicaraguan Canal
The Panama Canal- Progress Report January, 2016

January 12, 2016 - The Panama Canal has reached 96% of completion and more with full operation expected in 2016. The dredging for the approaches to the Atlantic and Pacific canal has been completed. All other work has reached 95% completion or better.

A crack has appeared in the Pacific site Cocoli Locks at the "sill" of one of the lock's gates. Latest news is that the contractor Grupo Unidos por el Canal (GUPC) will reinforce the sill in January, 2016. The Panama Canal Authority believes the Cocoli Locks will be repaired in time for a 2016 opening of the improved Canal.

Panama Canal Concrete Core Sample
Panama Canal Concrete Core Sample
Image: The Panama News

Panama Canal- Crack in Pacific Side Cocoli Locks

The Panama Canal Expansion project is influencing major port and infrastructure work on both coasts of the USA. Further delays in operating of the new locks and canal will be a detriment to these investments.

Proposed Route of the Nicaraguan Canal
Nicaraguan Canal

January 12, 2016 - Wang Jing, the Chinese head of the The Nicaragau Grand Canal has lost over 85% of his multibillion fortune in the Chinese stock market crash. His wallet has been the only one opened to the project so far.

The project has been delayed one year but the Hong Kong Nicaragua Development (HKND) Group says that the project will continue even without the help of the Chinese govenment or any outside investors at this time. Wang Jing himself does not have the funds to complete the canal construction.

Documentary for the Grand Canal of Nicaragua

The Suez Canal Expansion
Suez Canal Egypt

January 12, 2016 - Egypt has opened the canal in ceremonies August 6, 2015. Now comes the time for building of canal and Egyptian infrastructure for new ports and communications to build up commerce for Egypt and the Middle East. Egypt is receiving help for financing these latest projects through neighboring Arab countries. No timetable has been set for these projects.

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

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