First voyage through expanded Panama canal..Reinhardt theory gets a hit

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http://www.bbc.com/news/world-latin-america-36635198

A giant Chinese container ship has become the first vessel to move from the Atlantic to the Pacific Ocean via the newly-enlarged Panama Canal.

The ship was greeted with fireworks and cheers from a crowd that had gathered at the Cocoli locks to celebrate.

The Panamanian President, Juan Carlos Varela, described the waterway as a route that would unite the world.

The president thanked the nearly 30,000 people who had worked on the canal’s expansion.

Construction on the new lane for the canal, which runs for 77km (48 miles), began in 2007 and was due to finish in 2014.

But strikes and disputes over costs delayed the $5.2bn (£3.8bn) project.

The original Panama Canal was first used in August 1914. It was built by the US and handed over to local control in 1999.

The expansion allows a new, much-larger generation of container ships to pass through the isthmus.

Some 35 to 40 vessels transit the waterway everyday.

Panama hopes the expansion will increase the revenues it gets from the canal, reported to have been $2.6bn (£1.9bn) in 2015.

But the canal could face competition from a new passage in Nicaragua.

The controversial 278km (172 mile) scheme, being built by a Chinese firm, will be longer, deeper and wider than the Panama Canal.

Its construction started in 2014 and it is estimated to cost $50bn (£32bn).

———-

major infrastructure project completion is a sign of impending doom in the markets..reinhardt theory 101..and we got it with brexit occurring at approximately the same time..the theory stands up to scrutiny again..

“A giant Chinese container ship has become the first vessel to move from the Atlantic to the Pacific Ocean via the newly-enlarged Panama Canal.”

and the symbolism was china being the first through the expanded canal..from west to east..

401

~ by seeker401 on June 28, 2016.

5 Responses to “First voyage through expanded Panama canal..Reinhardt theory gets a hit”

  1. On the morning of June 9, the training wheels came off as the first neo-Panamax ship, the Baroque Valletta, entered the first of three locks on the Atlantic side. With the official opening just two weeks away, canal officials wanted to be sure their locks worked as planned.

    Valletta is in Malta, a refuge of the Knights Templar / St. John. The Baroque Valletta is a Malta flagged ship, I imagine, this was perhaps a ‘christening’ of the canal before it’s official opening.

  2. https://www.rt.com/in-vision/348569-panama-canal-expansion-chinese/

  3. The Panama Canal’s unexpected winners

    http://www.bbc.com/news/world-latin-america-36676196

  4. Ship hits wall of Panama Canal renewing design concerns

    http://www.bbc.com/news/world-latin-america-36891142

    A Chinese container ship has hit a wall of the recently-widened Panama Canal, amid concerns that it has less space for manoeuvres and could be unsafe.
    It is the third accident of this kind since the multi-million dollar expansion opened a month ago.
    Workers groups say the new locks are too small for safe operations now that the canal can take ships three times larger than before.
    The Panama Canal authority says it is investigating the incidents.

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