Development of New Markets for the Maritime Cluster 18 September, 2015 Palazzo San Giorgio Genoa, Italy Current Developments and Future Prespectives of the New Panama Canal: How the New Project will Affect the Traffic in the Mediterranean Area Agustín Moreno Deputy Administrator Panama Maritime Authority
Panama s Key Economic Indicators The Panama Canal in the Global Perspective Canal Expansion Impact on Trade Paterns Conclusions
PANAMA S KEY ECONOMIC INDICATORS GDP Growth / Panama / LATAM GDP per Capita INFLATION
PANAMA S KEY ECONOMIC INDICATORS Foreign Direct Investment (USD Millions) Poverty and Unemployement
Panama s Key Economic Indicators The Panama Canal in the Global Perspective
PANAMA CANAL HINTELAND TOTAL TRANSITS SINCE 1914: +1.05 MILLION CARGO SINCE 1914: +9,600 MILLION LONG TONS
TOTAL TONNAGE (PCUMS) AND OCEANGOING TRANSITS
PRINCIPAL TRADE ROUTES
CARGO DISTRIBUTION BY TYPE OF SHIP
Liner Services Connectivity Panama Route Vancouver Seattle Qingdao Shanghai Ningb o Hong Kong Taipe Chiwa Kaohsiun i n g Pyongtaek Busan Tokyo Yokohama Vancouver Seattle Oakland Los Angeles Ensenada Manzanillo Lázaro Cardenas Norfolk Charleston Savannah Jacksonville Houston Miami New York P. Kingston Caucedo San Juan PR Port of Spain Cartagena Manzanillo P. Cabello Cristobal Balboa Tilbury Hamburg Rotterdam Antwerp Dunkirk Le Havre La Spezia Marin Bilbao Valencia Tangier Naples Gioia Tauro Dubai Buenaventura Manta Guayaquil Callao Melbourne Sidney Commercial Route Noumea Lautoka Auckland Tauranga Napier No. Of Services Annual Capacity No. of Vessels Feeder Services Atlantic 24 4,038,138 74 1,904 Feeder Services Pacific 9 4,574,394 66 6,072 Total 33 8,612,582 140 Source: ACP MEMN analysis with April information and Compair Data, 2013 Average Vessel Size Il o Iquiqu e Mejillones Antofagasta San Antonio Commercial Route No. Of Annual No. of Average Vessel Services Capacity Vessels Size Asia - USEC / Gulf 12 5,506,506 112 4,426 WCSA - Europe 7 2,429,676 53 3,549 Pendulum 2 984,666 27 4,721 WCUS - Europe 2 807,538 21 3,821 WCSA - ECUS 2 782,144 13 3,797 Asia - Caribbean 1 479,402 12 4,597 Australia - ECUS 1 354,572 10 3,400 WCSA - Caribbean 1 167,484 4 1,606 Australia - Europe 1 125,386 6 2,405 Total 29 11,637,374 258 4,073
Panama s Maritime Hub Puertos con mayor volumen de tráfico en Latinoamérica Brasil Panamá México Chile Colombia Argentina Perú Jamaica Ecuador Bahamas Venezuela Puerto Rico Costa Rica Guatemala Rdominicana 3,81 3,12 2,03 2,03 1,70 1,60 1,50 1,44 1,27 1,25 1,21 1,08 8,62 6,54 4,88 TEUs 2013 Milioni - 5 10 Fuente: estadísticas CEPAL y mapas del PERLOG América Latina CAF (2014)
Panama s Key Economic Indicators The Panama Canal in the Global Perspective Canal Expansion
Canal Expansion Program Components Deepening of Pacific and Atlantic entrance channels Deepening and widening of the Gatun Lake navigation channel Construction of new access channel for Pacific Locks Construction of new Post Panamax Locks and water saving basins in the Atlantic and the Pacific Increase the maximum operating level of Gatun Lake
Dimensions of Locks and Ships Maximum size of vessels in existing Locks: 4,400 TEU 33.5 m (110 ) 12.4 m (39.5 ) 32.3 m (106 ) 49 m (160 ) 18.3 m (60 ) min. 28.3 m (93 ) max. 15.2 m (50 ) Maximum size of vessels in new Locks: 13,200 TEU
Panama s Key Economic Indicators The Panama Canal in the Global Perspective Canal Expansion Impact on Trade Paterns
Service Deployment Scenario Service A + Service B = Service AB Service Average vessel size (TEU) Transit frequency Number of vessels Yearly transits Yearly service capacity (TEU) Service A 4,500 7 8 104 468,000 Service B 4,500 7 8 104 468,000 Service AB 9,000 7 8 104 936,000 Result -8-104 0 Under this scenario, the carrier requires less vessels and less transits to deploy the same capacity, therefore providing savings to the carrier.
Service Deployment Scenario Service A + B + C = Service ABC Service Average vessel size (TEU) Transit frequency Number of vessels Yearly transits Yearly service capacity (TEU) + + = Service A 4,500 7 8 104 468,000 Service B 4,500 7 8 104 468,000 Service C 4,500 7 8 104 468,000 Service ABC 13,200 7 8 104 1,372,800 Total -300-16 -208-31,200 Under this scenario, the carrier takes advantage of economies of scale through the deployment of bigger vessels.
Potential Post Panamax Trade US Grain Exports 95K DWT Mini Capesize Grains :US Gulf. China Panama: 10,069 nm Cape of Good Hope: 15,353 mn Savings 5,284 nm, 14 knots, 16 days less
Potential Post Panamax Trade Coal 180K DWT Capesize Coal: US East Coast China Panama: 10,389 nm Cape of Good Hope: 14,688 nm Savings 4,299 nm, 14 knots, 13 days less
Potential Post Panamax Trade LNG Cargo Capacity: 137,100 m 3 PostPanamax LNG: US Gulf Japan Panama: 9,214 nm Suez: 14,570 nm Savings 5,356 nm, 19.5 knots 11.4 days less
Panama s Key Economic Indicators The Panama Canal in the Global Perspective Canal Expansion Impact on Trade Paterns Conclusions
New Channel 35 km Great Bitter Lakes Bypasses 27 km Ballah Bypass 10 km Exiting Channel Deepening Bypasses (37 km) to accommodate ships with draft 66 Ft Dredging new channel (35 Km) From km 60 to km 95
SUEZ CANAL EXPANSION
Development of New Markets for the Maritime Cluster 18 September, 2015 Palazzo San Giorgio Genoa, Italy Current Developments and Future Prespectives of the New Panama Canal: How the New Project will Affect the Traffic in the Mediterranean Area Agustín Moreno Deputy Administrator Panama Maritime Authority