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PAGE 1 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 PAGE 3 The Panama Canal 1914 PAGE 5 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 PAGE 6 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. PAGE 7 8 PAGE 8 9 PAGE 13 Tonnage by Market Segments FY 2010 FY 2011 PAGE 14 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 PAGE 15 Atlantic Entrance New Locks PAGE 16 Atlantic Locks Area PAGE 17 Heavy Rainfall at Atlantic Locks Excavation 24 Inches in 48 Hours (December 2010) PAGE 18 Atlantic Locks Excavation Aerial View Looking North PAGE 19 Atlantic Locks Construction PAGE 20 Atlantic Locks Construction PAGE 22 Pacific Entrance New Locks PAGE 24 Pacific 1939 Excavation (North End) PAGE 25 Pacific Locks Construction PAGE 26 Pacific Locks Construction PAGE 27 Pacific Aerial View Looking North (Finished Concept) PAGE 28 Beam 12.4 m Existing Locks Max Vessel: 4,400 New Locks Max Vessel: Dimensions of Locks and New Panamax Vessels PAGE 29 The expansion will extend the PAGE 30 Panama provides easy access to consumers located in Latin America, the Caribbean, North America, Asia and Europe PAGE 31 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 PAGE 32 Distance Comparison SHANGHAI PANAMA CANAL NEW YORK LOS ANGELES 5699 miles 8566 miles PAGE 33 Transit Time Shanghai New York All Water 23 26 days Mini Landbridge 15 18 days Time Savings 5 11 days PAGE 34 Estimated Market Shares Far East to USEC/Gulf 2010 1990 1983 1976 Mini Landbridge 65% 80% 30% 15% All Water 35% 20% 70% 85% PAGE 35 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 PAGE 36 Source: Port Websites; CI; AAPA Seaports of the Americas; Norbridge Analysis Reported Channel Depths at Selected Ports PAGE 37 container, dry and liquid bulk fleets Percentage of active world fleet that has a max draft ( 2ft under keel) PAGE 38 Tampa Kingston Colon/MIT Caucedo Cartagen a Freeport Mexico South America United States Transshipment Ports 39 PAGE 39 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 PAGE 40 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 PAGE 41 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 PAGE 42 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 PAGE 43 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 PAGE 44 Joint TPA CSX initiative dock unit train terminal Scheduled for completion in 2012 Tampa Gateway Rail Project 45 PAGE 45 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 PAGE 46 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 PAGE 48 1915 2011 Transits: 1,015,656 Cargo: 8,810,136,335 LT | |||||||||||||||||||||||||||||||||||||||||||||||||||
| MILLISECOND | CLASS.METHOD | MESSAGE |
|---|---|---|
| 0 | sobekcm_page_globals.constructor | |
| 0 | sobekcm_page_globals.constructor | Application State validated or built |
| 0 | sobekcm_database.verify_item_lookup_object | |
| 0 | sobekcm_page_globals.constructor | Navigation Object created from URI query string |
| 0 | sobekcm_database.verify_item_lookup_object | |
| 0 | sobekcm_page_globals.display_item | Retrieving item or group information |
| 0 | sobekcm_page_globals.get_entire_collection_hierarchy | Retrieving hierarchy information |
| 0 | sobekcm_assistant.get_entire_collection_hierarchy | |
| 0 | cached_data_manager.retrieve_item_aggregation | |
| 0 | cached_data_manager.retrieve_item_aggregation | Found item aggregation on local cache |
| 0 | item_aggregation_builder.get_item_aggregation | Found 'all' item aggregation in cache |
| 0 | system.web.ui.page.page_load (ufdc.page_load) | |
| 0 | sobekcm_page_globals.constructor.on_page_load | |
| 0 | html_echo_mainwriter.add_style_references | Adding style references to HTML |
| 0 | html_echo_mainwriter.add_text_to_page | Reading the text from the file and echoing back to the output stream |
| 48 | html_echo_mainwriter.add_text_to_page | Finished reading and writing the file |