Combined Panama Presentations

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Material Information

Title:
Combined Panama Presentations
Physical Description:
Mixed Material
Creator:
Wainio, Richard A.
Publication Date:

Notes

Abstract:
Richard Wainio’s knowledge of the maritime industry, international trade and global transportation comes from over 35 years of high-level public and private sector experience in many countries around the world. His work includes 23 years employed at the Panama Canal as Senior Economist; Director of Economic Research and Market Development; and, Director of Executive Planning. As Director of Executive Planning, Mr. Wainio’s responsibilities included strategic and treaty planning, Canal capacity planning, capital program development, economic research and marketing. He was also the primary advisor to the Canal’s bi-national board of directors during the transition of the Panama Canal to Panama. Subsequently, he held executive positions with several international ports and shipping companies including Manzanillo International Terminal (MIT Panama), the largest container transshipment port in Latin America and the Port of Palm Beach (Florida). Wainio was, for the past eight years, the CEO/Port Director of Florida’s largest seaport, the Port of Tampa. He also served as President and Executive Director for the American Chamber of Commerce and Industry of Panama. Wainio earned a master’s degree in international management from the Thunderbird School of Global Management and a bachelor’s degree in psychology from Davidson College. He did post-graduate work in Latin American demographic studies at the University of Florida and in economics at the University of Oklahoma. He is active in many international trade organizations and associations and has served as an advisor to the Federal Reserve Bank of Atlanta, and chairman, Florida Seaport Transportation and Economic Development Council (FSTED) and on numerous boards of directors in the Tampa Bay area, including SunTrust Bank.

Record Information

Source Institution:
University of Florida Institutional Repository
Holding Location:
University of Florida
Rights Management:
All rights reserved by the source institution and holding location.
System ID:
AA00013040:00001


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Panama Canal Expansion Antecedents May 1879: Baron Godin de Lepinay Canal Lock proposal at the International Congress for Study of an Interoceanic Canal ignored. Panama/Chief Engineer John Stevens backed the minority view for a lock type or high level lake canal June 1906: By a vote of 36 31, approved a lock type. Canal engineers immediately began work utilizing a design that was essentially the same in its key elements as the de Lepinay plan proposed 27 years earlier. 1908: Decision to enlarge locks from 95 feet to 110 feet to accommodate largest battleship Pennsylvania (98 1939 1942 Panama Canal Third Locks Project; Montana class battleships Angle deck carriers Seal level canal studies 1964 1970 Treaty requirements to study seal level canal 1985 1993 tripartite study Commercial developments/explosion in global trade after 1950/growth in ship sie and ship 1997 discssion with alberto aleman Canal Capacity Office opened in 1997 Master Plan completed 2005 Concluded that Canal expansion was feasible & necessary

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The Panama Canal 1914

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5 SS Ideal X, 524 ft. long; 58 containers MV Emma Maersk 1302 f t long 13,800 containers The Container Revolution April 26, 1956

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7 Containerization dramatically lowered transportation costs and greatly reduced the time to market. By itself it did not create the 21 st century global economy but it was a core building block it started the revolution and drove it forward. Other factors of course played a role GATT, the Staggers Act, double stack trains, the computer, internet, large jet planes, the opening of China and the breakup of the Soviet Union. But it was containerization that allowed the creation of global supply chains, brought logistics into the commercial vocabulary, set the stage for just in time manufacturing which significantly lowered production costs by reducing the need for large inventories and allowed globalized division of labor.

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Tonnage by Market Segments FY 2010 FY 2011

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Lock Chamber Length: 427 m Width: 55 m Depth: 18.3 m Vessel size LOA: 366 m Beam: 49 m Draft: 15.2 m Design & Construction of the Locks 15

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Atlantic Entrance New Locks

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Atlantic Locks Area

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Heavy Rainfall at Atlantic Locks Excavation 24 Inches in 48 Hours (December 2010)

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Atlantic Locks Excavation Aerial View Looking North

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Atlantic Locks Construction

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Atlantic Locks Construction

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Pacific Entrance New Locks

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Pacific 1939 Excavation (North End)

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Pacific Locks Construction

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Pacific Locks Construction

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Pacific Aerial View Looking North (Finished Concept)

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Beam 12.4 m Existing Locks Max Vessel: 4,400 New Locks Max Vessel: Dimensions of Locks and New Panamax Vessels

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The expansion will extend the

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Panama provides easy access to consumers located in Latin America, the Caribbean, North America, Asia and Europe

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46%* 63%* 4000 TEU ship 8000 TEU ship Share of the US population Assumptions $400/MT bunker Canal tolls based on 2011 proposal Current ship charter rates Inland move by rail Left of the black line = West Coast has the cost advantage Right of the black line = East Coast has the cost advantage For a typical Asia USEC voyage, shifting to an 8000 TEU vessel expands the market reach of the USEC ports

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Distance Comparison SHANGHAI PANAMA CANAL NEW YORK LOS ANGELES 5699 miles 8566 miles

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Transit Time Shanghai New York All Water 23 26 days Mini Landbridge 15 18 days Time Savings 5 11 days

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Estimated Market Shares Far East to USEC/Gulf 2010 1990 1983 1976 Mini Landbridge 65% 80% 30% 15% All Water 35% 20% 70% 85%

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Many Variables Cloud the Forecast Response of West Coast ports & railroads Shipper supply chain strategies Ocean carrier strategies including trans shipment and relay services Importance of transit time and impact of slow steaming Fall out from the Great Recession Shifting global production

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Source: Port Websites; CI; AAPA Seaports of the Americas; Norbridge Analysis Reported Channel Depths at Selected Ports

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container, dry and liquid bulk fleets Percentage of active world fleet that has a max draft ( 2ft under keel)

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Tampa Kingston Colon/MIT Caucedo Cartagen a Freeport Mexico South America United States Transshipment Ports 39

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Port Development in Panama 1996: 235K TEUs 2010: 5.6 M TEUs 2011: 6.5 M TEUs 2015: 8.4 M TEUs (E) 2020: 12.4 M TEUs (E) Panama Ports Company Cristobal Colon Container Terminal Manzanillo International Terminal (MIT) Panama Ports Company Balboa PSA

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41 Population 2.3 M Population 6.3 M Population 8.8 M 9 th Largest economy in the U.S. GDP over $272 Billion Tampa Orlando I 4 Corridor home to largest concentration of distribution centers in Florida 41

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42 C. America (13.1%) S. America (36.6%) Caribbean (9.5%) N. America (4.2%) Western Hemisphere Europe Asia Other Middle East Africa Oceania

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43 Largest, most diversified port in Florida $8B in economic impact/supports nearly 100,000 jobs Largest economic engine in West Florida Solid financial performance, even during economic downturn Encompasses 5,000 acres Approx. 40M tons cargo/year 44% of FL waterborne trade Energy products gateway of West/Central Florida critical to economy Premier U.S. fertilizer port Large/diverse bulk and break bulk business Shipyard/ship repair center Top ten cruise homeport Carnival, RCI, HAL, NCL Expanding container/distribution center gateway Petroleum Cruise Phosphate Building Materials Containers Port of Tampa

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Container Terminal Expansion Currently 40 acres; expansion to 160 acres planned 4 container cranes; 2 more under consideration 43 foot deepwater channel/berths Plans to quadruple capacity; enough to handle all Cent. FL demand

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Joint TPA CSX initiative dock unit train terminal Scheduled for completion in 2012 Tampa Gateway Rail Project 45

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Dedicated Truck Lane New express highway access between Port and interstate system scheduled for completion summer 2013 $390 million construction cost I 4 Connector Project 46

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47 O V E R V I E W Three large, distinct, complementary markets Proximity to expanded Panama Canal Balanced trade characterized by strong exports Expanding logistics gateways, distribution centers and industrial parks driving cargo density Extensive terminal facilities on deep water, with plans for additional expansion

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1915 2011 Transits: 1,015,656 Cargo: 8,810,136,335 LT