Jhan Schmitz Executive Sponsor Panama Canal Expansion Program
Capacity constraints need to double the capacity of the existing canal Accommodate post-panamax vessels Enhance Panama s strategic position as transshipment hub / business center Increase competition: single-ocean transits, and the Suez Canal Allow shippers to bring Asian goods to US East / Gulf coasts for less money Provide for dramatic boost of US East / Gulf Coast container trade Boost prospects for more exports from US Gulf Coast to Asia: LNG Generate additional revenue, re-invest in future Canal improvements
Total (Long tons) 218.1 M (332.6 PCUMS, $1.85B Tolls) Asia East Coast USA 84.3M West Coast South America East Coast USA 27.6M West Coast South America Europe 14.4M West Coast USA Europe 12.2M West Coast Central America East Coast USA 9.7M
17.66 M m 3 Atlantic Site Post- Panamax Locks Increase of Gatun Lake s maximum operating level Atlantic entrance deepening and widening 26.7 m 27.1 m Gatun Lake widening and deepening and widening of Gaillard Cut s navigation channels Pacific Site Post- Panamax Locks 8.7 M m 3 Pacific Access Channel 49 M m 3 Pacific entrance deepening and widening
Maximum size of vessels in existing Locks: 4,400 TEU 33.5 m (110 ) 12.04 m (39.5 ) 35 Transits/Day 32.3 m (106 ) 49 m (160 ) (+52%) 18.3 m (60 ) min. 28.3 m (93 ) max. (+43% - +120%) 15.2 m (50 ) (+27%) 12 Transits/Day Maximum size of vessels in new Locks: 13,000 14,000 TEU (+207%)
Autoridad del Canal de Panama (ACP): 31 December 1999 National Referendum: October 2006 Program Management Contract awarded to CH2M HILL: August 2007 New Locks Contract awarded to GUPC: July 2009 Final excavation contract awarded: January 2010 First of 46 concrete monoliths lining Pacific side completed June 2012 First set of valves for new locks arrives in Panama: December 2012 First set of gates for new locks arrives in Panama: August 2013 3 million M 3 of concrete placed to date: to September 2013 4.3 million M 3 required versus 3.4 million M 3 for current canal
Construction of the new locks $ 3.58 68.2% Construction of channels $ 0.48 9.1% Navigational channel improvements $ 0.80 15.2% Water supply improvements $ 0.07 1.3% Program management $ 0.20 3.8% Program contingency $ 0.11 2.1% Operating expenses $ 0.01 0.2% Total $ 5.25 100.0%
Financing shall cover for $2.3 billion of the $5.25 billion budgeted for the Program and shall be disbursed as follows: European Investment Bank (EIB) Disbursed Japan Bank for International Cooperation (JBIC) Debt = 44% Disbursed Panama Canal Authority Equity = 56% Inter-American Development Bank (BID) Disbursed The negotiated financing structure includes provisions that are favorable for the ACP, including a 20-year repayment period and a 10-year grace period. Disbursed Andean Development Corporation (CAF) International Financial Corporation (IFC)
Conceptual pre-design per ACP criteria/specifications Full access to ACP reports, data, physical model and sites Individual meetings with the pre-qualified Consortia Lump Sum Design-Build Contract FIDIC standard contract, highly amended ACP/Contractor risk sharing on construction commodity prices Stipend of $15 Million divided equally between the unsuccessful Tenderers who submitted a fully compliant Tender Selection criteria: 55% technical, 45% price
Scope of Contract: Design and Construction of Locks Award: July 15, 2009 Order to Proceed: August 25, 2009 Initial Amount + options: B/. 3,158,600,059 Consortium: Grupo Unidos por el Canal S.A. Sacyr Vallehermoso Impregilo Jan De Nul - CUSA Conclusion of the contract: October 21, 2014 Actual 52% 0% 50% 100%
Physical Hydraulic Model in Lyon, France (Scale 1:30) Lock Filling and Emptying System
Physical Hydraulic Model in Lyon, France (Scale 1:30) Lock Filling and Emptying System
Lateral Filling Water Saving Basins Use of Tugs for Vessel Guidance
Locks Design and Construction (Atlantic Locks) 2.1M m 3 structural concrete
Water Utilization WSB 3 WSB 2 WSB 1 With the water saving basins 60% of water is re-used; the new locks will use 7% less water than the existing locks New Locks Existing Locks
2009 2010 2011 2012 2013
Concrete Plant with a 570m 3 /hr.-capacity
East View - Locks Lower Chamber
North View - Locks Lower Chamber
2009 2010 2011 2012 2013
Concrete Plant with a 570m 3 /hr.-capacity
Locks Atlantic Site
Conduit Valves 4.69m x 6.786m Main Culvert 4.69m x 6.786m 72 + 2 spares Equalization Valves 3.545m x 4.285m 64 + 2 spares 16 + 2 spares
Atlantic type D Pacific type E Atlantic type B Pacific type C Atlantic type A Pacific type F Ocean Lake 8 gates per Lock Complex (Atlantic and Pacific) On average, each gate is 57.6M long (189 feet), 10M wide (33 feet), and 30.19M (99 feet) high and weighs 3,300 tons
MEC 3 80 Ha
PAC : last award contract 7-Jan-10 Company: Consortium ICA-FCC-MECO Amount of award: B/. 267,798,795.99 Order to proceed: 22-Ene-10 Start date: 27-Apr-10 Actual 78% Estimated completion date: 31-Oct-13 0% 50% 100%
Scope of Contract: 26 M m3 excavation Borinquen dam construction Clearing of 80 hectares of MEC. Award: January 7, 2010 Amount: B/. 267,798,795.99 Company: Consortium ICA-FCC-MECO Actual 72% Completion of contract: August 2, 2013 0% 50% 100%
9 m
Scope of Contract: Deepening of 27.5m a 9.14m PLD Channel Width = 218m Length = 1.6km Volume approved 4 M m3 Award: August 16, 2010 Amount: B/. 54,550,647 Company: Jan De Nul n.v. Concluded: 17 October 2012 Actual 100% 0% 50% 100%
Lago Gatún Bohío Actual 100% Volume: 1.8M m 3 / 1.8M m 3 Buena Vista Gatún Actual 100% Volume: 146K m 3 /146K m 3 Peña Blanca Actual 100% Volume: 1.1M m 3 / 1.1M m 3 Tabernilla Actual 100% Volume: 1.9M m 3 / 1.9M m 3 Mamey Actual 71% Volume: 1.9M m 3 / 2.6M m 3 Barro Colorado Actual 100% Volume: 913K m 3 / 913K m 3 San Pablo Actual 100% Volume: 4.2M m 3 / 4.2M m 3 Juan Grande 9% Actual Volume: 179K m 3 / 2M m 3 Gamboa 24% Actual Volume: 821K m 3 / 3.4M m 3 Chagres Crossing Actual 100% Volume: 312K m Gamboa 3 / 312K m 3 Actual 82% 0% 50% 100%
Bas Obispo Actual Volume: 655K m 3 100% N Quibian I dredge Actual Volume: 307K m 3 100% Las Cascadas Actual Volume: 412K m 3 100% Empire Cunette Actual Volume: 240K m 3 100% Actual Volume: 664K m 3 100% Culebra Cucaracha Actual Volume: 512K m 3 100% Centenario Bridge Paraiso Actual Volume: 204K m 3 100% Cornelius dredge
New west prism line once the island is removed
Scope of Contract: 8.7 M m 3 Award: April 1, 2008 Amount: $ 177,500,676.78 Company: Dredging International Amendment No.12 : February 10, 2012 - Expansion Program delivery: Dec 31, 2012 - Contract Completion: June 30, 2013 Actual 8.8 M m 3 dredged 100% 0% 50% 100%
17.6 M m 3 dredged Award: September 25, 2009 Amount: $ 144,236,596.44 Company: Jan De Nul NV Contract Completon: April 25, 2013 Actual 100% 0% 50% 100%
12 modified and installed gates 2 fabricated gates installed 2 modified gates in spare Bid for the acquisition of 32 hydraulic cylinders. Actual 45% 0% 50% 100%
Environmental Impact Assessment Ecological Compensation paid to ANAM Wildlife Rescue Plan Archeological Rescue Paleontological Resources Studies Reforestation Monitoring Air and Water Quality Monitoring Noise and Vibrations Meetings with communities according to project advance Report and inspection by independent consultant Inspections by ANAM
Dredging Access channel Locks Activity by quarter (Q) % Progress Specifications and locks models 100% Design and build post-panamax locks 58% 2007 2008 2009 2010 2011 2012 2013 2014 2015 T4 T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4 T1 T2 T3 T4 Pacific access channel - phase 1 100% Pacific access channel - phase 2 100% Pacific access channel - phase 3 100% Pacific access channel - phase 4 74% Dredging of the Pacific entrance 100% Deepening and widening of Gatun Lake and deepening of Culebra Cut 84% Dredging of the Atlantic entrance 99% Increase operating level of Gatun Lake 54% Expanded Canal begins operations Expansion Program progress 66.6% Specifications and design Bidding and contracting Execution Baseline* Baseline Baseline Contingency against baseline Beginning of operations * Baseline from 31 December 2006 including contingency
The Locks Contract establishes that disputes between the parties shall be adjudicated by a Dispute Adjudication Board (DAB). The DAB is composed by three (3) members: Peter Chapman, President Robert Smith, nominated by ACP Pierre Genton, nominated by GUPC
D
Jhan Schmitz Executive Sponsor Panama Canal Expansion Program