Title: Panama Canal Customer newsletter
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Title: Panama Canal Customer newsletter
Physical Description: Serial
Language: English
Publisher: Autoridad del Canal de Panama
Place of Publication: Balboa, Panama
Publication Date: January 2000
Copyright Date: 2010
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Bibliographic ID: UF00099413
Volume ID: VID00001
Source Institution: University of Florida
Holding Location: University of Florida
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CUSTOMER NEWSLETTER


ACP DUO

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On December 31, the Honorable Louis
Caldera, Secretary of the Army and Chair-
man of the Panama Canal Commission
Board of Directors, stood next to the Presi-
dent of Panama, Mireya Moscoso in a col-
orful and historic transfer ceremony held
at the Canal's Administration Building in
Balboa Heights. The event marked the fi-
nal chapter of U.S. administration of the
Canal and the complete transfer of the wa-
terway to Panama in accordance
with the Panama Canal Treaty of
1977. Mr. Caldera noted that the
U.S. had fulfilled its Treaty com-
mitments with Panama and he
thanked all present and past Ca-
nal workers for their dedication
in ensuring the smooth operation
of the Canal for nearly nine de-
cades and those who worked hard
to ensure a seamless transfer of the
Canal. In her remarks, President
Moscoso stated that Panama is
now solely responsible for the
management, maintenance, op-
eration and improvement of the
waterway. She said Panama is
prepared for the task and all Pana-
manians recognize thatthere will
be challenges in the future. The
documents providing for the legal transfer
of the Canal were signed and exchanged
during the ceremony. There was exten-
sive media coverage and festivities were
held after the ceremony.
The official transfer of the Canal was pre-
ceded by a colorful ceremony held at the
Miraflores Locks of the Panama Canal on
December 14, 1999. The decision was
made to hold this event in mid-December
to allow visiting dignitaries to return to their
countries for their respective millennium
celebrations. Former U.S. President Jimmy
Carter, was present in representation of U.S.
President William Clinton. The King of
Spain and presidents and dignitaries from
around the world were also present to wit-
ness the ceremony and demonstrate their
support for the transfer of the Canal to
Panama. Local and international media


provided broad coverage of the ceremony.
The program of events included Panama's
President Mireya Moscoso arriving at the
ceremony and waving to the crowd on one
of the new locks electric towing locomo-
tives, along with former President Carter,
the King of Spain and other presidents. The
Canal's tugboat Gilberto Guardia F., bear-
ing the name of the first Panamanian Ad-
ministrator of the Panama Canal also made
its entry into the Miraflores Locks chamber
to perform a lockage for all visitors. Canal


Administrator, Mr. Alberto Aleman Zubieta,
escorted all of the dignitaries to the locks
control house to brief them on the equip-
ment and procedures used to operate the
locks.
Panama's President and former President
Carter, signed and exchanged documents,
at which time President Carter said to Presi-
dent Moscoso "It's yours". The King of
Spain and all presidents who were present,
then signed the documents as witnesses.
The national anthems of the U.S. and the
Republic of Panama were also sung. In his
remarks to the audience, President Carter
reflected on the controversy of the 1903
treaty and its interpretations as well as other
subsequent events, which ultimately led to
the negotiations and final signing of the
Panama Canal Treaty of 1977. He also
made mention of the resistance in the


United States to approve and sign that
treaty, while highlighting the difficulty of
that achievement in his country under a
two-party system. President Carter cred-
ited Panama for its statesmanship through-
out the treaty process and the subsequent
transition period, noting the complexity of
obtaining the approval of laws and regula-
tions under the multiple political party sys-
tem that exists in Panama. He made spe-
cific mention of the Neutrality Treaty, which
gives the United States the right to defend
the Canal at Panama's request
from events, which threaten the
continued operation of the water-
way. Drawing a parallel with
Singapore, he stated that Panama
will be capable of enjoying simi-
lar economic success as it oper-
ates the Canal as a commercial en-
terprise in the new millennium.
As he closed his remarks, he
thanked the key figures who
helped approve the treaty and
touched upon the fact that the Ca-
nal would be safe from the Y2K
problem because many of the im-
portant lockage functions are still
manually performed. President
Moscoso followed with a moving
address particularly emphasizing
that the Canal will be operated as
an autonomous agency free of political in-
terference and promising that her govern-
mentwill respect, support and maintain the
autonomy of the new Canal Authority. She
added that her government will guarantee
the safe, efficient and uninterrupted opera-
tion of the waterway to serve the needs of
its customer and for the good of Panama.
She said modernization planswill continue
and Panama will protect the watershed
while also taking the necessary measures
to ensure that there will be sufficient water
for the smooth operation of the Canal over
the long term. She added that Panama is
committed to making the Canal a model of
success and that it will continue to be the
engine for the development of Panama as
a major maritime, transportation and trade
hub, while fueling the economy of the
country.







11 I.I lYSI Al l TOCl; NA ICUSTOMERS ^ ^


The following is a
message that was sent
to Canal customers
and maritime organi-
zations by the Administrator in December
1999.
This holiday season will be very special
for the Panama Canal marking a major
milestone in the colorful history of the wa-
terway. After nearly nine decades of suc-
cessful administration by the U.S., the Ca-
nal will be transferred to the Republic of
Panama on December 31, 1999 in accor-
dance with the Panama Canal Treaty of
1977. As we embark on a new chapter,
the Canal is fully prepared to continue pro-
viding high quality transit service over the
long term. The successes of the new mil-
lennium will serve as a tribute to those who
sacrificed to construct the waterway, and
the many who made the commitment to
operate, maintain and improve this great
Canal for the benefit of international trade,
the world's economies and the Republic of
Panama.
The smooth and seamless transition has
been the product of a genuine binational
effort by the U.S. and Panama, and a sym-
bol of the continuing spirit of cooperation
and close relations between the two coun-
tries. Complex legal, administrative and
organizational changes were achieved over
the twenty-year transition period while ful-
filling the primary mission of the waterway.
In terms of traffic, larger and specialized


I HE CA L E A TH U G


On September 24, 1999, Panama's new
president, Mireya Moscoso, addressed the
United Nations General Assembly during
its last meeting at the world organization's
headquarters in New York. During her
speech, which received an ovation by at-
tending dignitaries, President Moscoso
emphasized the somewhat different role
that the waterway will have in the 21st cen-
tury at the national level and the commit-
ment of her government to support the Ca-
nal organization in accomplishing this new
role by operating the Canal in a profitable
manner and to integrate it to Panama's
maritime strategy, oriented to develop
Panama as a maritime cluster for the re-
gion.
In her address, President Moscoso said:
"The Panama Canal has spurred the eco-
nomic progress of the international com-
munity for eight and a half decades. Now
the Panamanian people will participate in


vessels are increasingly appearing on the
Canal route. Today, Panamax vessels rep-
resent one-third of all oceangoing transits
and there is evidence that trade may be af-
fected by the rising number of Post-
panamax vessels in the world's fleet. The
billion dollar program that we initiated a


few years ago to modernize the Canal and
boost capacity by 20 percent will be com-
pleted in 2004. Nevertheless, we must
examine traffic demand for the coming
decades and respond in a timely manner
to that expected demand.
The Canal will also play a broader role in
the development of Panama as an interna-
tional maritime and trade hub by support-
ing necessary infrastructure changes. Spe-
cial attention will also be given to the grow-
ing cruise sector, which is seeking new des-
tinations and experiences.


the prosperity generated by the waterway
because Panama has determined that the
Canal will not only operate to serve inter-
national trade timely but to promote the
sustained development of its people."



Canal transit service continued normally
through the New Year without any Y2K
related incident. The Panama Canal had
thoroughly examined its systems that could
have potentially been affected by the Y2K
problem. Emphasis was placed on ensur-
ing that the critical systems directly or in-
directly related to vessel transit service had
been made Y2K ready. For added secu-
rity, redundancy in Canal operational sys-
tems, some of which are manually oper-
ated or handled, would have prevented de-
lays that could have been attributed to the
Y2K matter.


The coming century will pose new chal-
lenges for the Canal. Globalization will
continue to shape new trade relationships
and maintain a competitive fervor. The
Canal will work to improve its competitive-
ness, reliability and profitability through the
sustained and more efficient utilization of
its resources, while giving greater attention
to its customers. New business opportuni-
ties will also be aggressively pursued.
As the year rapidly draws to a close, we
wish to thank our many customers and
friends for their outstanding support
throughout the year. We look forward to
maintaining good relationships as we en-
ter a new era that presents a bright future
for the Canal and Panama. On behalf of
the Canal work force, the Deputy Admin-
istrator of the Panama Canal Commission,
Mr. Joseph W. Cornelison, and I would also
like to express our best wishes for the holi-
day season and a fruitful new year, to you
and all members of your organization. As
Mr. Cornelison's tenure ends with the ex-
piration of the treaty we wish him well and
thank him for his valuable contribution. I
take his opportunity to assure our custom-
ers that the Canal's new management team
is well qualified and prepared to ensure the
success of the waterway in the new mil-
lennium.

Alberto Aleman Zubieta
Administrator



During a recent visit to South America,
Canal officials learned about the major de-
velopment projects conducted in Brazil
aiming at fomenting economic growth in
the Northeast region of the country. Of par-
ticular importance, the agricultural expan-
sion in the Central-Western axis will gen-
erate soybean, corn, and other grains that
will be transported through the Madeira and
Amazon rivers to Europe and North
America. According to GEIPOT studies,
Brazil's participation in the soy oil world
market will increase to 25% by 2015. The
national plan to develop the Northeast will
bring about significant economic develop-
ment in the State of Maranhao and the Port
of Itaqui, strategically located in the Canal
hinterland. The Port of Itaqui would be-
come the primary exit of iron ore destined
to the Asian market and that could repre-
sent increased demand to the Canal.









As a result of steady heavy rainfall in
the watershed since August 1999 the
Canal's two principal reservoirs are filled
to capacity. Although surplus water is be-
ing used to generate hydroelectric power,
the inflows have been well above normal
requiring spilling operations to ensure safe
water levels are maintained at dams and
spillways. With the abundance of stored
water, the Canal is fully prepared for the
annual dry season, which normally begins
during the month of December and lasts
until late March or early April.
The excess of water this year is in sharp
contrast to last year's record-breaking
drought, which was produced by the most
severe El Nino phenomenon in the history
of the Canal. Last year the Canal adminis-
tration was forced to impose drought re-
lated vessel draft restrictions for the first time
in nearly 15 years. Several new water
projects are now being planned to ensure
the availability of water even under severe
drought conditions and to serve the long-
term needs of the Canal.


The Panama Canal Authority will partici-
pate in Shipping 2000 in Stamford, Con-
necticut from March 20-22 with an exhibit.
Canal Administrator, Alberto Aleman
Zubieta has been invited to be a speaker at
the conference and share his vision for the
new Canal agency, now that the waterway
is under Panama's control as of December
31, 1999. He will also update the confer-
ence on the progress of infrastructure de-
velopment in the Canal area and Panama's
goal of becoming an international trade and
transportation hub.





VISITS CANAL
Mireya Moscoso, Panama's new president,
visited the Miraflores Locks during the Oc-
toberdry chamber overhaul. Accompanied
by the Minister for Canal Affairs and Chair-
man of the Panama Canal Authority's Board
of Directors, Ricardo Martinelli, and Ad-
ministrator Alberto Aleman Zubieta, Presi-
dent Moscoso walked around the dry west
chamber of the locks, listened to explana-
tions on the work in progress and was also
greeted by Canal employees.


r.n-


The Advisory Board established by the
Panama Canal Authority held its inaugu-
ral meeting on December 14, 1999 at the
PCA's Board of Directors'meeting room.
The Secretary General of the International
Maritime Organization, William A. O'Neil,
was approved as the first chairman of the
Advisory Board. In
his remarks, Mr.
O'Neil stressed that
the board is com-
prised of a group of
experts in the mari-
time and business
world who are pre-
pared and willing to
offer their advice and
support to the
Panama Canal Au-
thority Board to en-
sure the successful
operation of the Ca-
nal. The other Board
members who at-
tended the meeting
with Chairman O'Neil were: Gerhard Kurz,
President of Mobil Shipping and Transpor-
tation Co.; Michael Barnes, Chairman of
the U.S.-Panama Business Council; Philip
A. Embiricos, Vice-President of Embiricos
Shipbrokers Ltd.; and Joe Reeder, former
Chairman, Panama Canal Commission
Board of Directors. The other members
who were unable to attend due to other
commitments were Tommy Thomsen,


President and CEO of Maersk-SeaLand;
Lillian Borrone, Director of the Port Com-
merce Department of the Port Authority of
New York/New Jersey; Dr. Y. F. Chang,
Chairman of Evergreen Marine Corp.; Mr.
Stephan Schmidheiny, from FUNDES; Mr.
Juan Somavia, of the International Labor Or-


ganization; and Mr. C.C. Tung, of Orient
Overseas Container Line (OOCL). The Ca-
nal Authority is reviewing the possibility of
adding another member to the Advisory
Board.



ACP
DE- -AA E PA-A T


F _;ii~-;~,;






iI[ I l I l I


MARINE SIMULATOR FORUM
The Panama Canal organized the Interna-
tional Marine Simulators Forum in Panama,
which was held from September 13-17,
1999. More than 30 members of the Inter-
national Organization of Marine Simula-
tors, consisting of manufacturers of marine
simulation equipment, Canal officials, and
local participants attended the forum. The
Canal's Administrator, Alberto Aleman
Zubieta, delivered the welcoming remarks.
Conferences and work sessions covered
such topics as technologies of the future,
simulator classification, and the use of en-
gine room simulators.


The tie-breaking rules related to the Canal's Transit Reservation System (booking system)
are tentatively planned to change in May 2000. This change is being considered follow-
ing numerous requests from Canal customers to improve the booking system. The focus of
these requests has been the tie-breaking mechanism used by the Canal in determining
how a booking slot will be awarded in the event of a tie. Consequently, a study of the
booking system was conducted over three months including simulation testing. The best
available alternative was to utilize the information based on the Customer Ship Informa-
tion and Quarantine Declaration (SIQD) Code (which measures frequency of customer
transits) as the second criteria for tie-breaking. A comparative chart appears below to
identify the portion of the rule that would change.

Current rulE Planned rule change
V esslw ith m ostbooked tensits V esslw ith m ostbooked tensits
V esselw ith m osttrnsits Custom erw ith m osttransits
V esslw ith m ostrecenttansit V esselw ith m ostrecenttansit
V esslw ith perishable calgo V esslw ith perishable cajgo
V esslthat faild to obtain a booking slot V ess1ltat failed t obtain a booking slot

The modifications will be widely discussed with Canal customers and local shipping agents
prior to implementation. Customers are once again reminded of the importance of having
their ship captains enter the correct SIQD code prior to transit. This will ensure that you,
as the operator, are credited with the transit. The code helps Canal officials identify the
operator or shipping line, which is actually paying for the transit.


[ri.


In October the Canal's emergency response
team was called into action when the
"Galapagos Discovery", a Liberian regis-
tered vessel, began to burn while undergo-
ing maintenance at the Rodman piers on
the Canal's west bank. Canal officials took
appropriate command and control of the
situation and removed the vessel by tow-
ing it to a remote area. The vessel subse-
quently sank in waters that are safely away
from the ship channel. This experience
demonstrated the preparedness and profes-
sionalism of the Canal's emergency re-
sponse personnel in preventing a disaster.


The Board of Directors of the
Panama Canal Authority con-
firmed the appointment of the
top management team that is
now supporting the adminis-
tration of the new entity
headed by Administrator
Alberto Aleman Zubieta since
noon, December 31, 1999.
In meetings held since Octo-
ber 1999, the Board ap-
pointed the following officials:
Ricaurte Vasquez, Deputy Ad-
ministrator; Rodolfo Sabonge,
Corporate Planning and Mar-
keting; Jorge Quijano, Mari-
time Operations; Thomas
Drohan, Engineering and In-
dustrial Services; Juan Hector
Diaz, Safety, Environment and
Security; Agustin Arias, Canal
Capacity Projects; Ana Maria
Chiquilani, Human Re-
sources; Alvaro Cabal, Gen-
eral Counsel; Francisco
Loaiza, Chief Information Of-
ficer; James Ferrara, Executive
Administration; and
Alexander Gianareas, Organi-
zational Effectiveness.


]l!$']


ES









Canal traffic and tolls revenue slowed during the months of September, October and
November 1999 compared with the same period in the prior year. Oceangoing transits
during this period totaled 2,969 or 32.6 daily compared with 3,185 or 35.0 per day in the
three moth period in 1998. Tolls revenue during the three-month period of 1999 declined
3.8 percent to $136.0 millions from $141.4 million registered in the same period in 1998.
The drop in tolls revenues is explained primarily by the low number of Panamax vessels
that transited the canal which totaled 1,046 during the three-month period in 1999, ver-
sus the 1,066 recorded during the same months in 1998.


Tolls Revenues


*199
*19 9Q1


Oceango ig Tansits


HEARING
COMPLETION
Panama is continuing
to undertake programs
to upgrade its highway
infrastructure to improve traffic flow and
the movement of cargo. An important seg-
ment of the south corridor joining Panama's
Tocumen international airport and the heart
of the capital city is now in service provid-
ing rapid access to business and banking
centers and convention sites. Over the last
several years major traffic arteries have
been expanded from two to four lanes sub-
stantially reducing commuting times along
the transisthmian highway and roads lead-
ing to the interior of Panama as far as the
border with Costa Rica.


sept Oct Nov.


The transfer of the waterway to Panama on
December 31, 1999 marked the 20-year
history of transits under the Canal's admin-
istration by the Commission. During this
period, traffic performance was shaped by
a series of significant world events. The
early 1980's witnessed steady growth in
oceangoing traffic, which reached record
levels in fiscal year 1982
when 14,142 ships carry-
ing over 185 millions of
long tons generated Canal
tolls revenues of $326 mil-
lion. This record was at-
tributable to the steady
growth of ship size, in-
crease of Alaskan oil trans-
portation, and vigorous
movement of coal and
grains, particularly grain
exports from U.S. to China
and Japan. This record was
followed by a reduction in
transits in 1983, that even-
tually reached its lowest
point the following year.
The world economic re-
cession of 1982, the dra-
matic reduction in U.S.
coal demand and the beginning of opera-
tions of the oil pipeline near the west end
of Panama were the reasons for this decli-
nation, which caused a reduction of 15%
in toll revenues. These events forced the
Canal to raise tolls by 9.8 percent. Ocean-


going transit levels in fiscal year 1984 were
the lowest ever since the Great Depression
of the 1930's.
By the mid-1980's, a slight improvement
was observed due to an increase in the
Asian container and vehicle imports, as the
dollar strengthened. This recovery was fol-
lowed by a modest growth from 1986 to


1988, mainly due to steep increases in the
movement of grain trade through the Ca-
nal. By the end of this decade, the slow-
down of U.S. and Japan's economies and
the changes in transportation trends in the
segments of petroleum and derived prod-


ucts, vehicles, grains and containerized
cargo, caused a new slowdown in ocean-
going transits. Among those changes were
the establishment of Japanese car factories
in the U.S. and the subsequent imports sub-
stitution, the fall of the U.S. dollar against
the yen, and the need to restrict imports.
Oceangoing transits increased significantly
in 1991, partially due to the Per-
sian Gulf War, which produced a
shift in traditional world trade pat-
terns. As world trade patterns nor-
malized after the end of the Per-
sian Gulf crisis, the economies of
Europe, Japan and the U.S. weak-
ened and oceangoing transit lev-
els also diminished. This effect
was evident in fiscal years 1992
and 1993. On October 1, 1994,
the Canal introduced the Panama
Canal Universal Measurement
System to assess tolls.

Beginning in fiscal year 1993, and
for the next six fiscal years, new
records in toll revenues were es-
tablished. Atwo-steptoll increase
was implemented in fiscal years
1997 and 1998. Fiscal year 1999
ended with record tolls revenues of $560
millions and tonnage 228 million PC/UMS
net tons.


M ilbn
$60.(
$50.(
$40.
$30.(
$20.
$10.
$0.


OVEArO L









The Canal has contin-
ued to maintain a vig-
orous tempo in its out-
reach efforts directed
to the international
maritime transportation and trade commu-
nities. In October the Canal Administrator,
Alberto Aleman Zubieta addressed the An-
nual Convention of the Propeller Club
which was held in Houston, Texas. Addi-
tionally, Corporate Planning and Market-
ing Director, Mr. Rodolfo Sabonge gave
several presentations at conferences he at-
tended. These included the Business Ad-
visory Committee (BAC) of Northwestern
University's Transportation Center, in Chi-
cago, IL and the Container Asia 99 Confer-
ence, in Singapore, which were both held
in October, and in mid-November he ad-
dressed the Georgia Foreign Trade Confer-
ence, held at Sea Island, Georgia.
Outreach efforts have also been conducted
at the national level, since the interest in
Canal issues has increased significantly as
the transfer of the Canal on December 31


rapidly approaches. On November 24,
Administrator Alberto Aleman Zubieta and
CP Director Sabonge delivered a presenta-
tion to representatives from the Legislative
Assembly's Commission on Canal Affairs,
that illustrated to the audience the complex
environment that surrounds Canal business,
its projections, the waterway's future op-
portunities and the financial and legal con-
straints. On November 30, a similar brief-
ing was delivered by CP Director Sabonge
to a group of Panamanian radio journal-
ists.


mC O E i EiFORTS


At the Florida Caribbean Cruise
Association (FCCA) conference
in San Juan, Puerto Rico in
October 1999, FCCA President,
Ms. Michele Paige, officially
announced that Panama will be
the site for their conference in
October 2000. The FCCA
helps to promote the cruise in-
dustry and many of the major
cruise lines, some of whose
vessels transit the Canal. Vari-
ous enterprises from Panama's ...I 1
maritime sector have already 11 **
expressed a strong interest in a
participating in the conference.
Over the past year, Panama ag-
gressively began upgrading
tourism services and facilities,
particularly in the Canal area,
to attract leisure travelers. New
cruise terminals and other sup-
port facilities capable of han-
dling large cruise vessels are
now nearing completion.
Cruise operators and travel
agents will welcome these im-
provements as they come un-
der increasing pressure from
tourists seeking new destina-
tions and experiences.


The president of COSCO, Capt. Wei Jia Fu,
made a courtesy visit to the Panama Canal
in October and met with the Canal Admin-
istrator, Mr. Alberto Aleman Zubieta, to dis-
cuss matters of mutual interest. During his
visit Capt. Fu, who was accompanied by
several of COSCO's top executives, had the
opportunity to tour Miraflores Locks and
open the lock miter gates.



The Panama Canal Commission Board of
Directors held theirfinal meeting on Thurs-
day, December 30, 1999, at the Adminis-
tration Building in Balboa Heights, Repub-
lic of Panama. The Board, which was com-
prised of five U.S. and four Panamanian
members since the implementation of the
Panama Canal Treaty in 1979, was
disestablished with the transfer of the Ca-
nal to Panama at noon on December 31,
1999. The Canal is now supervised by
the Panama Canal Authority Board, which
is comprised of 11 members whose tenures
are fixed but staggered.









The Manzanillo International Terminal
(MIT) near the Atlantic entrance to the
Canal has expanded its capacity by add-
ing 275 meters of berth. This will increase
the overall length of the container berths
to 1225 meters. Two additional post-
panamax cranes will be delivered in Janu-
ary 2000, to supplement the delivery of six
additional rubber tire gantry cranes ca-
pable of stacking containers seven high.
These improvements should increase MIT's
annual capacity to one million TEU's.


Officials from the Panama Canal Railway
Company (PCRC) recently met with Mr.
Rodolfo Sabonge, Director of Corporate
Planning and Marketing to outline their
plans to renovate the Panama railroad. Mr.
David Starling, President of the PCRC men-
tioned that $75 million USD will be in-
vested to reconstruct the railroad and earth
moving is scheduled to begin in January
2000. The PCRC will begin receiving
steady shipments of ballast, ties and rail
during January. By early 2001 the PCRC
expects to initiate operations and moving
cargo. Completion of this important project
will help to position Panama as a new mari-
time, trade and transportation hub by link-
ing the key container facilities at the Atlan-
tic and Pacific entrances to the Panama
Canal.




One of the piers at the Port of Cristobal,
operated by Panama Ports Company
(Hutchison Whampoa), is undergoing re-
habilitation to develop a terminal for luxury
cruise vessels. Its key location near the
Atlantic entrance of the Panama Canal will
cater to cruise vessels plying the Caribbean
as well as those transiting the Canal.
Panama Ports is also making good progress
in developing new berths for large container
vessels and installing state-of-the-art con-
tainer handling equipment. Several new
container cranes were recently installed at
the Port of Balboa, and are undergoing test-
ing. The completion of these upgrades will
help to position Panama as an important
international trade and transshipment cen-
ter.









As part of its efforts to
increase transit capac-
ity, three new tugs
were added raising
the Canal's tug fleet to
20. Two new additional tugs with greater
horsepower will be procured in 2000. The
tug replacement schedule has been modi-
fied to accommodate the proposal to in-
crease the fleet to 24 tugs to manage the
traffic increase once the Gaillard Cut wid-
ening is completed.
The accelerated Gaillard Cut Widening Pro-
gram continues ahead of schedule and
should be completed by December 2002.
Dry excavation is now 91% and wet exca-
vation is 67%. All dry excavation for the
Atlantic entrance widening and wet exca-
vation for the Atlantic West Bank have been
completed. Wet excavation on the East
Bank will begin in late calendar year 2000.




Effective immediately the Canal's postal and street addresses for international incoming
mail, including that from the U.S., have changed. The postal address should be used to
send documents, correspondence, magazines, journals, account statements and general
mail; the street address is for packages and parcels. Arrangements have been made with
postal officials so that all correspondence addressed to the former Panama Canal Commis-
sion will be forwarded to the Canal's new address. All Canal correspondence should now
be addressed to either the postal or street address formats that follow:


Postal Address:
PANAMA CANAL AUTHORITY
(Office name)
Mr./Ms. (Name, Position Title)
PCA-(Office name or symbol)
P.O. Box 02(Plus 4-Digit Office Zip Code)
Miami, FL 33102-(Plus 4-Digit Office Zip Code)


Street Address:
PANAMA CANAL AUTHORITY
(Office name)
Mr./Ms. (Name, Position Title)
PCA-(Plus Office name or symbol)
7801 NW 37 Street
Miami, FL 33166-6559


Following are office correspondence symbols and 4-digit office zip codes for the Ca-
nal offices that customers may need to contact on a more frequent basis:


OFFICE CORRESP. 4-DIGIT OFFICE
OFFICE NAME: SYMBOL: ZIP CODE:
DEPT. OF MARITIME OPERATIONS MR 5543
DEPT. OF CORPORATE PLANNING AND
MARKETING CP 5513
CUSTOMER RELATIONS CPMC 5513
PUBLIC RELATIONS DIVISION AEP 5413



Postal and street address formats, office symbols and zip codes for the Panama Canal
Authority, which took effect on December 31, 1999, will be posted on the Canal's website:
www.pancanal.com


li r rll ir illr i'l I ]il i I
The World Trade Center of Panama to-
gether with the Panama Maritime Law As-
sociation has announced that it will hold
its Fifth Maritime World Conference and
Exposition from February 23-25, 2000 at
the Atlapa Convention Center in Panama
City. The Panama Canal Authority will
participate in the eventwith an exhibit and
the Canal Administrator together with other
Canal officials will address various sessions
of the conference. For more information
regarding this event please visit the follow-
ing web site: www.wtcpn.com/
maritime.html or you may send an e-mail
to maritime@wtcpn.com or call (507) 265-
7866.



The Panama Canal has been in contact
with several event organizers to receive
proposals to develop a major international
maritime and trade conference in Panama
for the winter of 2001. Theeventwill be
considered one of the most important
events of its kind for the hemisphere and it
will be held every two years. The approach
will be to promote transportation, trade,
tourism and the maritime infrastructure in
Panama while providing workshops and
leisure activities that give the delegates the
opportunity to do business networking at
the highest levels in the industry.




The new Panama Canal Authority is proud
to unveil its new logo below.


ACP

The new address for obtaining information
appears below.



Corporate Planni
Panama Ca
PCA-CP P.BOX025513
Miami FL. 331025513
Tel.: (507) 272-7961
e-mail: cpmc-ag
web site: www

SEE THIS NEWSLETTER ON THE PCA WEB
SITE AT:
www.pancanal.com
(then click on "Canal News")
We will publish the next issue in March, 2000




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