When the expansion of the Panama Canal began eight years ago to allow 14,000 teu containerships to navigate the waterway it was slated for completion in October 2014. After a number of setbacks, including a host of disputes with unions and contractors and even the use of the wrong mix of concrete, it is now some 18 months behind schedule. This has led to the project running an estimated $95m over its original $5.25bn budget, and this figure could rise even further with a number of lawsuits between the Panama Canal Authority (ACP) and unions still to be resolved. ACP administrator Jorge Quijano, however, remains confident that these settlements should be fairly straightforward and doesn't expect the current completion date set for the start of the second quarter of next year to be under threat.
展开▼
