News: Fj Worldwide
Report by: Carmeli Clemente. Listin Diario
Being the Dominican Republic one of the best positioned geographically for maritime trade countries, the Panama Canal expansion project will represent a great business opportunity that will strengthen economic dynamism in the region if conditions are improved in ports.
This project, according to the website of the Panama Canal will have an overall investment of US $ 5.250 million provided by foreign institutions would be completed by the end of 2016, and its main objective is to increase the size, meet the growth in demand for better service to the client.
The Panama Canal expansion project involves the construction of two lock (hydraulic works that allow overcome unevenness concentrated on navigable channels) of three levels each with three basins of water level, one on the Pacific side and one on the Atlantic side through the widening and deepening of navigational channels in Gatun lake and the Gaillard Cut.
The new Panama Canal's locks allow passage of between 10 to 12 vessels Neopanamax (large vessels) for approximately 40 transits per day depending of the type os ships
The president of the Shipowners Association of the Dominican Republic (ANRD), Teddy Heinsen, said the Panama Canal expansion project will represent a great opportunity for additional income from maritime trade, provided logistics centers for large vessels are created.
The shipping leader said that with the large international cargo volumes local freight could benefit from cost reductions to better position the country for international trade, adding that this will create a different business possibility in terms of logistics and distribution cargo throughout the Caribbean.
He further stressed the good trade relations with Panama has the Dominican Republic through the free trade agreement.
"There will be a complete change in relation to maritime trade in the Caribbean. The ports handled at that time Post- Panamax ships (cargo ships large) will have competitive advantages over most ports as they grouped the flow of these vessels can not enter smaller ports " says Heinsen.
Shipowners president added that the usual local trade flows will not change the channel, however, the international traffic flows could be increased, since these ships can only reach a very limited number of ports the Caribbean.
He explained that there are excellent services to the vast majority of the islands of dry and refrigerated containers currently in the country.