Panama Canal expansion update
Oct 24, 2015 16:31:23 #
Oct 24, 2015 16:39:48 #
Oct 24, 2015 16:42:10 #
bahmer wrote:
interesting
Sure is. I was down there two years ago. It is an impressive sight to see the Canal in action. :lol:
Oct 24, 2015 16:48:39 #
Elwood wrote:
http://www.youtube.com/watch?v=umE6x5s0CxM&feature=youtu.be
Amazing. Long history to build the canal. Not to be negative, but I understand that a number of years ago we relinquished control of the canal to the Chinese. They pretty much determine who and what is allowed to pass through. ???
Oct 24, 2015 16:56:22 #
Rufus wrote:
Amazing. Long history to build the canal. Not to be negative, but I understand that a number of years ago we relinquished control of the canal to the Chinese. They pretty much determine who and what is allowed to pass through. ???
Incorrect. Jimmy Carter turned the Canal over to the Panamanians and it is owned and operated by them. I think that you are confusing it with Nicaragua where the Chinese are heavily involved in the planning and financing of a proposed canal through that country. That would be an ecological disaster should that happen. There is a lot of resistance to that proposed canal, least of which is financing. Nicaragua has nowhere near the financial resources of Panama. The Canal is a real cash cow for Panama. It has made Panama a wealthy country and that is reflected in their infrastructure.
Oct 24, 2015 17:02:14 #
Elwood wrote:
Incorrect. Jimmy Carter turned the Canal over to t... (show quote)
:thumbup: Thank you for the correction my friend. That makes me feel better. I would like to go there sometime. I love Central America.
Oct 24, 2015 18:02:08 #
Rufus wrote:
:thumbup: Thank you for the correction my friend. That makes me feel better. I would like to go there sometime. I love Central America.
I hope to move there maybe in about a year. Great place to live, much cheaper living expenses and they have a great pensionado program for retirees. :lol:
Oct 24, 2015 18:35:30 #
Elwood wrote:
I hope to move there maybe in about a year. Great place to live, much cheaper living expenses and they have a great pensionado program for retirees. :lol:
See you there.
Oct 24, 2015 18:37:54 #
Oct 24, 2015 18:38:02 #
Elwood wrote:
Incorrect. Jimmy Carter turned the Canal over to t... (show quote)
So who is doing the financing, Engineering and construction of the Panama expansion?
Oct 24, 2015 18:43:46 #
Jimbolai wrote:
So who is doing the financing, Engineering and construction of the Panama expansion?
The total cost of the project is US$5.25 billion, but the ACP put together a financing package of US$2.3 billion, which included loans from the following institutions:
Japan Bank for International Cooperation (JBIC) $ 800 million
European Investment Bank (EIB) $ 500 million
Inter-American Development Bank (IDB) $ 400 million
International Finance Corporation (IFC) $ 300 million
Corporación Andina de Fomento (CAF) $ 300 million
Regarding engineering and construction, as I recall, there is an European consortium that are involved with the construction. I know the new lock gates were built in Italy.
Oct 24, 2015 19:01:47 #
Elwood wrote:
I hope to move there maybe in about a year. Great place to live, much cheaper living expenses and they have a great pensionado program for retirees. :lol:
:thumbup: :thumbup: :thumbup:
Oct 25, 2015 06:06:40 #
Rufus wrote:
Amazing. Long history to build the canal. Not to be negative, but I understand that a number of years ago we relinquished control of the canal to the Chinese. They pretty much determine who and what is allowed to pass through. ???
Chinese do help operate the canal. One day they will take it over and stick it to the stupid Americans. YANKEE GO HOME! We are now the big cheese.
Oct 25, 2015 12:22:27 #
Elwood wrote:
The total cost of the project is US$5.25 billion, ... (show quote)
I doubt there would be any problems as far as financing. Any country with large manufacturing and export interests and importers will benefit. Mainly trade between the Far East and the US. Even with all of our ports on the West Coast a lot of shipping goes through the canal to the East Coast ports. I believe a lot of imported Japanese and exported US vehicles go through the port at Jacksonville, FL.
Oct 25, 2015 13:04:12 #
samtheyank wrote:
Chinese do help operate the canal. One day they will take it over and stick it to the stupid Americans. YANKEE GO HOME! We are now the big cheese.
Your comments made me check into something that I was unaware of.I have spent some time in Panama and the Chinese connection has been kept rather low key. From the article I have posted below it looks like the Chinese run the ports at both end of the canal but the canal itself is run by the Panamanians. This could pose a security threat to the US should we ever get involved in a war with China.:shock:
http://themengesproject.blogspot.com/2008/10/chinas-control-of-panama-canal.html
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