Panama Canal Update & Outlook

Transcription

1 Panama Canal Update & Outlook Marianela Dengo Manager, Strategic Relations Management Section Panama Canal Authority Texas Lyceum Conference June 12, 2015

2 Distances: Asia Panama -Texas ASIA TEXAS 1570 nm 3-4 days PANAMA Approximately 18 to 20 days at 18 knots Memorandums of Understanding: Houston 2003 Corpus Christi Freeport

3 Million long tons Cargo originated and destined to US Gulf ports through the Panama Canal (in million long tonnes) Imports Exports Fiscal year

4 Commodity Cargo Composition in Exports from US Gulf ports through the Panama Canal (in million long tonnes)

5 Commodity Cargo Composition in Imports to US Gulf ports through the Panama Canal (in million long tonnes)

6 PANAMA AT A GLANCE GDP average growth rate last 10 years 7.5% Real GDP growth rate % GDP estimated (billions of dollars) US$47,4 Real GDP estimated (billions of dollars, base 2007) US$35,6 Real GDP per capita estimated (in 2007 dollars) US$9,379 Population (million) 3.8 Unemployment rate E (in %) 4.0 Inflation rate E (in %) 2.6 Source: Contraloría General de la República, Indesa

7 Connectivity 144 trade routes 1,700 ports 160 countries

8 The Panama Canal Trade and Main Users Total Cargo Movement FY 2014 USERS FY 2013* FY 2014* 2014 (%) United States China Chile Japan Colombia South Korea * Measured in Million of Long Tons Total Cargo Movements Million Long Tons 69% of Canal cargo traffic originates in or is destined to the United States

9 Transits Transits vs Panama Canal Tonnage PC/UMS tonnage in millions 35,000 30,000 FY FY 2014 Average Tonnage per Commercial Transit ,000 4,832 9,931 18,940 27,286 FY 1955 FY 1975 FY 1995 FY ,000 15,000 13, , , Fiscal Year

10 Tons in millions Long Term Demand Historical Historical Forecast Revised Forecast Canal Capacity Additional tonnage after Expansion 340 Maximum Capacity of Existing Canal 100 YEAR

11 Panama Canal in 1914 Panama Canal Today

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13 Pacific Ocean Expansion Program Components 15.8 Mm 3 Atlantic Ocean Atlantic Neopanamax Locks Increase the Maximum Operating Level of Gatún Lake Deepening & widening of the Atlantic entrance Existing Locks Deepening & widening of the Gatun lake & Culebra Cut navigational channels 26.7 m 27.1 m Pacific Neopanamax Locks Access Channel Existing Locks 9.1 Mm 3 Neopanamax Pacific Locks Access Channel 48 Mm 3 Deepening & New Locks widening of the Pacific entrance

14 Water Utilization WSB 3 WSB 2 WSB 1 With the water saving basins the new locks will use 7% less water than the existing locks New Locks Existing Locks

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20 Panama Canal Expansion Milestone: FILLING OF THE ATLANTIC LOCKS COMPLEX June 11, 2015 During an initial phase of filling, which will take approximately five days, the Canal will gradually raise the water level within the lower chambers of the new locks, pumping in approximately 50 thousand cubic meters of water per hour from Gatun Lake. This will allow for the testing of the first gates.

21 Gates Unloading Dock Area

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24 Volumes of Excavation and Dredging Original 200 Current Expansion % In million of cubic meters

25 Volume of concrete for the construction of the locks Existing Locks New Locks Original Construction 3.4 Current Panama Canal Expansion 4.4 In million cubic meters 129%

26 Panama Canal Expansion Impact

27 Existing Locks Max Vessel: 4,400 TEU s 33.5 m (110 ) 12.4 m (39.5 ) 32.3 m (106 ) Beam 49 m (160 ) 18.3 m (60 ) min m (93 ) max. Neopanamax Locks Max Vessel Size: 13,000 14,000 TEU 15.2 m (50 )

28 Container Vessels 13,000 to 14,000 TEU New volumes from: - Latin America Recover market from: - West Coast United States Dry Bulk Up to 170,000 DWT - Coal from Colombia - Metallurgical coal from Vancouver - Iron Ore from Brazil in Minicapesize (85, ,000 DWT) Liquid Bulk Up to 150,000 DWT - Tankers - Petroleum Products LNG/LPG - LNG Up to 177,000m 3 and VLGC - Suez Canal

29 The Panama Canal It is all about reliability, connectivity, and value added services ASIA Lazaro Cardenas (Mexico) 3-4 days PANAMA Approximately 18 to 20 days at 18 knots Savannah, Charleston, Norfolk Houston 3-4 days Callao (Peru) 3-4 Days San Antonio (Chile) 5-6 Days Caucedo (Dominican Rep.) Kingston (Jamaica) 1-2 days Cartagena (Colombia) Less than 1 day Santos (Brazil) Days 80% of vessels that transit the Panama Canal call at a local port

30 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

31 Source: Energy Information Administration, January 8, Lower 48 states shale plays

32 LNG world fleet and orderbook

33 Potential Neopanamax Trade LNG

34 Terminals approved by DOE/FERC Source: Federal Energy Regulatory Commission, March 4, 2015.

35 The Panama Canal Service Promise Economies of Scale Connectivity Sustainability Reliability

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