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Update on the Panama Canal Expansion Program Update on the Panama Canal Expansion Program Rodolfo Sabonge Vicepresident, Market Research and Analysis [email protected] Rodolfo Sabonge Vicepresident, Market Research and Analysis [email protected]

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Page 1: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Update on the Panama CanalExpansion ProgramUpdate on the Panama CanalExpansion Program

Rodolfo SabongeVicepresident, Market Research and [email protected]

Rodolfo SabongeVicepresident, Market Research and [email protected]

Page 2: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

AgendaAgenda

• Traffic AF2007

• Alternative Routes

• Expansion Program Components, Scope & Time Line

• Locks Contracting Plan

• Traffic AF2007

• Alternative Routes

• Expansion Program Components, Scope & Time Line

• Locks Contracting Plan

Page 3: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Transits vs. PC/UMS Tonnage FY1915 – FY2007

Transits vs. PC/UMS Tonnage FY1915 – FY2007

Fiscal Year

PC

/UM

S To

nn

age

in M

illio

ns

Tran

sits

PC/UMS

Transits

AF 1955AF 1955

4,832

AF 1975AF 1975

9,931

AF 1995AF 1995

18,940

AF 2007AF 2007

23,591

312.2

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

1915

1917

1919

1921

1923

1925

1927

1929

1931

1933

1935

1937

1939

1941

1943

1945

1947

1949

1951

1953

1955

1957

1959

1961

1963

1965

1967

1969

1971

1973

1975

1977

1979

1981

1983

1985

1987

1989

1991

1993

1995

1997

1999

2001

2003

2005

2007

0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

14,721

PC/UMS Tonnage of Commercial Transits

Page 4: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Principal Routes - FY 2007Principal Routes - FY 2007

82.6 MLT39.6%

82.6 MLT39.6%

East Coast US AsiaEast Coast US Asia

PRODUCTS MLT %Containers 26.5 32.2Grains 23.0 27.9

Page 5: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

20.5 MLT9.8%

20.5 MLT9.8%

West Coast South America East Coast US

PRODUCTS MLT %Petroleum and prod 6.1 29.9Dry Bulks 3.8 18.6

Principal Routes - FY 2007Principal Routes - FY 2007

Page 6: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

West Coast South America EuropeWest Coast South America Europe

15.2 MLT7.3%

15.2 MLT7.3%

PRODUCTS MLT %Containers 5.0 32.6Refrigerated fruit 3.4 22.3

Principal Routes - FY 2007Principal Routes - FY 2007

Page 7: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Principal Commodities that Transit the Panama CanalFiscal Year 2007

Principal Commodities that Transit the Panama CanalFiscal Year 2007

0.52.12.3

4.14.85.15.15.76.27.2

13.013.4

14.732.133.0

58.6

0 10 20 30 40 50 60 70Miscellaneous Dangerous GoodsMiscellaneous Dangerous Goods

Animal/Vegetable Oils and FatsAnimal/Vegetable Oils and FatsOther Agricultural ProductsOther Agricultural Products

MineralsMineralsMachinery and EquipmentMachinery and Equipment

Canned/Refrigerated ProductsCanned/Refrigerated ProductsWood and ProductsWood and Products

Nitrates and PhosphatesNitrates and PhosphatesCoalCoal

Iron/Steel Manufactured ProductsIron/Steel Manufactured ProductsGeneral CargoGeneral Cargo

Chemicals and PetrochemicalsChemicals and PetrochemicalsMetals and OresMetals and Ores

Petroleum and ProductsPetroleum and ProductsGrainsGrains

Containerized CargoContainerized Cargo

Long Tons in millionsLong Tons in millions

Page 8: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

10

20

30

40

50

60

70

80

90

100

110

120

130

140

150

160

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

PC/UMS by Market Segment(in millions - FY 1995-2007)

PC/UMS by Market Segment(in millions - FY 1995-2007)

Containerships

Dry Bulk

Liquid Bulk

General Cargo

Reefers

Passengers

Vehicle Carriers

Others

ContainershipsContainerships

Dry BulkDry Bulk

Liquid BulkLiquid Bulk

General CargoGeneral Cargo

ReefersReefers

PassengersPassengers

Vehicle CarriersVehicle Carriers

OthersOthers

Page 9: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Growth of container traffic throughthe Panama Canal (1997 - 2007)

Based on the capacity of transiting vessels – Source: CompairData

0

500

1000

1500

2000

2500

3000

3500

4000

Tran

sits

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Transits (1,302 - 3,622)

Page 10: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Based on the capacity of transiting vessels – Source: CompairData

0

500

1000

1500

2000

2500

3000

3500

4000

Tran

sits

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 20070

2

4

6

8

10

12

14

16

Mill

ions

of T

EUs

Transits (1,302 - 3,622)

Capacity TEU (2.5M-13.8M)

Growth of container traffic throughthe Panama Canal (1997 - 2007)

Page 11: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

International Ports Connected through the Panama Canal

International Ports Connected through the Panama Canal

Source: ACP and ComPairData, 2006Source: ACP and ComPairData, 2006

SavannahSavannahYantianYantian

KwangyangKwangyang

Hong KongHong Kong

PusanPusan

SavannahSavannahKeelungKeelung

WilmingtonWilmingtonPusanPusan

NJ/NYNJ/NY

RotterdamRotterdam

Le HavreLe Havre

HalifaxHalifax

FelixstoweFelixstowe

Long BeachLong BeachLos AngelesLos Angeles

BremerhavenBremerhaven RotterdamRotterdam

KaohsiungKaohsiung

CharlestonCharleston

NagoyaNagoya ThamesportThamesport

OaklandOakland

SeattleSeattle

TokyoTokyo

ColomboColombo

ShanghaiShanghai

YokohamaYokohama

Newport NewsNewport News

HakataHakata Manzanillo (Mx)Manzanillo (Mx)

RotterdamRotterdam

KobeKobe

OsakaOsaka HamburgHamburg

ShimizuShimizu Port SaidPort Said

ZeebruggeZeebrugge

ChabangChabang

TahitiTahiti

AucklandAuckland

DoniamboDoniambo

BrisbaneBrisbaneSydneySydney

MelbourneMelbourne

Tanjung PriokTanjung Priok

SingaporeSingapore

MarseillesMarseilles

La SpeziaLa Spezia

TilburyTilbury

DunkerqueDunkerque

QingdaoQingdao

BuenaventuraBuenaventuraGuayaquilGuayaquil

CallaoCallaoAricaArica

CoquimboCoquimbo

San AntonioSan AntonioSan VicenteSan Vicente

Puerto LimónPuerto Limón

IquiqueIquique

MantaManta

AntofagastaAntofagastaValparaísoValparaíso

..

BalboaBalboa

AntwerpAntwerp

ItajaiItajai

SavannahSavannahBaltimoreBaltimore

New OrleansNew Orleans

ParanaguaParanaguaSantosSantos

Puerto CabelloPuerto Cabello

VeracruzVeracruz ManzanilloManzanilloColon Colon

CartagenaCartagenaLa GuairaLa Guaira

GuantaGuantaMaracaiboMaracaibo

EvergladesEvergladesKingstonKingston

MiamiMiami

Transit the CanalFeeder services that don´t transit the Canal

BostonBoston

Page 12: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Servicios de Línea de la Región del CaribeJulio 2007

Servicios de Línea de la Región del CaribeJulio 2007

FuenteFuente: : CompairCompair Data, Julio 2007Data, Julio 2007

PANAMA

COSTA RICA

GUATEMALA

EL SALVADOR

HONDURAS

CCT

BALBOA

CRISTOBALMIT

LIMON-MOIN

CALDERA

NICARAGUA

CORINTOSANDINO

CUTUCO( LA UNION)

ACAJUTLA

CORTES CASTILLA

CABEZASQUETZAL

BARRIOSSANTO TOMASDE CASTILLA

SPR BUENAVENTURA

SPR CARTAGENA

SPR BARRANQUILLAPUERTO CABELLO LA GUAIRA

SPR SANTA MARTAMARACAIBO

PORT OF SPAIN

POINT LISAS

ATM KINGSTON

FREEPORT

HAINA

CAUCEDO

LA HABANA

PONCE

SAN JUAN

JARRY/GUADALOUPE

WILLEMSTADCURACAO

BRIDGETOWN/BARBADOS

ORANJESTADARUBA

CASTRIES/ST. LUCIA

DOMINICA

SANTIAGO

Regional ConnectivityRegional Connectivity

Page 13: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Port Developmentin Panama

Port Developmentin Panama

Manzanillo InternationalTerminal (MIT)

Manzanillo InternationalTerminal (MIT)

Colon Container TerminalColon Container Terminal

Panama Ports Company - BalboaPanama Ports Company - Balboa

Panama PortsCompany –Cristobal

Panama PortsCompany –Cristobal

Page 14: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

1996: 235 KTEUs2007: +3.2 MTEUs1996: 235 KTEUs2007: +3.2 MTEUs

Page 15: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Panamax Cranes PPX Total

PPC-BCZ 7 8 15PPC-CRI 3 3 6CCT 4 6 10MIT 2 14 16

16 31 47

Page 16: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

TWO OCEANS IN A SAME DAY

Page 17: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Cruise tourism evolution in PanamaColón 2000 Port

Cruise tourism evolution in PanamaColón 2000 Port

• Inaugurated in October 2000

• Main cruise lines: Holland America, Carnival andCelebrity

• Tour operation Aventuras 2000: tours offered via trainand buses to Portobelo & San Lorenzo Fort

• Wil be homeport for Royal Caribbean beginningDecember 2008

• Inaugurated in October 2000

• Main cruise lines: Holland America, Carnival andCelebrity

• Tour operation Aventuras 2000: tours offered via trainand buses to Portobelo & San Lorenzo Fort

• Wil be homeport for Royal Caribbean beginningDecember 2008

Sun Princess at Colón 2000Sun Princess at Colón 2000

Page 18: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

$25

$26M

$57M

$61M

$107M

$106M

$163M

$682M

2007

2%

3%

5%

6%

9%

10%

17%

49%

GeneralCargo

Passengerships

Refrigerated

Others

Liquid bulk

Car Carriers

Dry bulk

Containers

Segments

2%$25M

2%$26M

5%$53M

5%$59M

9%$91M

9%$100M

13%$170M

56%$503M

2006Toll Revenue by Market segmentsToll Revenue by Market segments

Page 19: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

AgendaAgenda

• Traffic AF2007

• Alternative Routes

• Traffic AF2007

• Alternative Routes

Page 20: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

THE SUEZ ALTERNATIVETHE SUEZ ALTERNATIVE

Page 21: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Suez Canal AuthoritySuez Canal Authority

Cargo Ton through Suez (Destination)Cargo Ton through Suez (Destination)

M. Ton

0

100

200

300

400

500

600

700

N.W. Europe 188 208 234 246Med. Sea 176 209 219 261EC America 40 52 57 63Black Sea 44 44 53 52Others 7 8 8 7

2003 2004 2005 2006

N.W. Europe ( 39.1 % )

Med. Sea ( 41.5 % )

Black Sea ( 8.2 % )

EC America ( 10.1 % )

Page 22: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Cargo Ton through Suez (Origin)Cargo Ton through Suez (Origin)

Red Sea ( 12.2 % )M. Ton

0

100

200

300

400

500

600

700

Others 1.4 2.3 2.1 18.2Australia 35.1 42.5 34.1 34.9South Asia 47 51 62.9 68.5Red Sea 75.7 84.3 88.8 76.6Arabian Gulf 81.3 97.5 112.6 122.6S.E.Asia 217.5 243.9 270.7 307.8

2003

A. Gulf ( 19.5 % )

Australia ( 5.6 % ) S. Asia ( 10.9 % )

S.E. Asia ( 49 % )

2004 2005 2006

Suez Canal AuthoritySuez Canal Authority

Page 23: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

SC Container Traffic to EC America (by Origin)SC Container Traffic to EC America (by Origin)

Red Sea ( 3 % )

1000 Ton

Others0

2000

4000

6000

8000

10000

Arabian Gulf 754 1025 2434 2394S. Asia 2268 2941 2463 2971Red Sea 184 315 308 253S. E. Asia & F. E. 1877 1810 2533 3760Others 325 164 108 0

2003 2004 2005 2006

A. Gulf ( 26 % )

S. Asia ( 32 % )

S.E. Asia & Far East ( 40 % )

Suez Canal AuthoritySuez Canal Authority

Page 24: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

SC Container Movement by Route ( 2003 -2007)SC Container Movement by Route ( 2003 -2007)

22 878

74

102

200

371

536

807

1 445

19 343

2006

20 506

56

134

381

394

339

762

957

17 483

2005

18 535

23

143

350

420

315

686

1 061

15 537

2004

25 610

76

96

210

390

850

936

1 550

21 502

2007

15 851

24

246

137

371

547

470

1 263

12 793

2003

NWE - Middle East

ECNA - South East Asia

Total

ECSA - Middle East

NWE - East Africa

NWE – Australasia

ECNA - South Asia

NWE - South Asia

NWE - Far East

Route

( 1000 Loaded TEU )

Suez Canal AuthoritySuez Canal Authority

Page 25: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Source: Estimates based on ACP analysis of different sources

Panama- Suez Route Cost ComparisonPanama- Suez Route Cost Comparison

$0$0

$1,000,000$1,000,000

$2,000,000$2,000,000

$3,000,000$3,000,000

$4,000,000$4,000,000

$5,000,000$5,000,000

$6,000,000$6,000,000

$7,000,000$7,000,000

$8,000,000$8,000,000

PanamaPanama SuezSuez PanamaPanama SuezSuez PanamaPanama SuezSuez PanamaPanama SuezSuez PanamaPanama SuezSuez

20032003 20042004 20052005 20062006 20072007

Ship Provision Costs Fuel Costs - Canal Fuel Costs - Sea Canal Fees Fuel Costs - Ports Port Fees

Page 26: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Strategic Demand CentersStrategic Demand Centers

Population Growth 2005 - 2030

10

I-35 Corridor +40%Pop: 15,315,317

Gulf Coast Belt +31%Pop: 12,064,600

Cascadia +38%Pop: 7,412,248

Norcal +35%Pop: 12,024,173

Southland +35%Pop: 22,173,291

Valley of the Sun +81%Pop: 4,486,206

Great Lakes Horseshoe +10%Pop: 40,082,228

I-85 Corridor +35%Pop: 19,318,992

Sources: Population, employment, and real estate growth forecasts by Robert Lang and Arthur Nelson of the Metropolitan Institute at Virginia Tech and Phil Hopkins of Global Insight; Business 2.0, November 2005 – Used by permission of BNSF

Atlantic Seaboard +12%Pop: 50,427,921

Southern Florida +52%Pop: 13,708,165

Page 27: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Local Port MarketsLocal Port Markets

24Used by permission of BNSF

Page 28: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Inland Intermodal MarketsInland Intermodal Markets

25Used by permission of BNSF

Page 29: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

U.S. Infrastructure Issues: Current and FutureU.S. Infrastructure Issues: Current and Future

TACOMATACOMA

1,7761,776 2,5572,557

SEATTLESEATTLE

1,7981,798 4,3964,396

•Container imports are expected to double by 2020

•Rail freight tonnage is expected to increase by 50% by 2020

•Air cargo volume is expected to increase by 5% every year through 2016

•Half of the nation’s 257 locks on inland waterways are functionally obsolete

•Most ports have not been dredged to handle the 10,000-TEU containerships being built

•Container imports are expected to double by 2020

•Rail freight tonnage is expected to increase by 50% by 2020

•Air cargo volume is expected to increase by 5% every year through 2016

•Half of the nation’s 257 locks on inland waterways are functionally obsolete

•Most ports have not been dredged to handle the 10,000-TEU containerships being built

OAKLANDOAKLAND2,0432,043 3,3823,382

LA/LBLA/LB

13,10113,101

59,42059,420

HOUSTONHOUSTON

1,4371,437

6,1656,165

2,1522,1521,0101,010

MIAMIMIAMI

SAVANNAHSAVANNAH1,6621,662

9,4209,420CHARLESTONCHARLESTON

1,8601,860 6,6396,639

VIRGINIAVIRGINIA

1,8091,809

5,5665,566NY/NJNY/NJ

4,4784,478

15,83515,835

2004 Volumes (‘000 TEUs)2004 Volumes (‘000 TEUs)

2020 Volumes (‘000 TEUs)2020 Volumes (‘000 TEUs)

Legend:Legend:

U.S. Maritime Container Trade Growth

U.S. Maritime Container Trade Growth

Source: American Society of Civil Engineers (ASCE) – 2005Report Card for America’s Infrastructure, U.S. DoT

+ 44.0%+ 44.0%

+ 144.5%+ 144.5%

+ 65.5%+ 65.5% 353.6%353.6%

+ 113.1%+ 113.1%

+ 256.9%+ 256.9%

+ 253.6%+ 253.6%

+ 207.7%+ 207.7%

+ 466.8%+ 466.8%

Page 30: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Forecast2007: +3.2 MTEUs2010: 4.6 MTEUs2015: 7.4 MTEUs

Forecast2007: +3.2 MTEUs2010: 4.6 MTEUs2015: 7.4 MTEUs

Page 31: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira
Page 32: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira
Page 33: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira
Page 34: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira
Page 35: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Prince Rupert HinterlandPrince Rupert Hinterland

MEMPHIS

PRINCE RUPERT

27

Toronto

Montreal

Used by permission of BNSF

Page 36: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Prince Rupert ProjectPrince Rupert Project

• Prince Rupert Port Authority in partnership with Maher Terminals (RREEF Infrastructure) and CN Rail opened a modern $160 Million terminal

• Shortest sea link between Asia and North America with connections to Chicago, Toronto and Memphis

• New facility capable of handling 500,000 TEU initially, with possibilities to expand to 2 million TEU per year

• Capable of handling up to 12,000 TEU vessels with 16 m. draft

• Second Phase already started to be completed by 2010.

• Prince Rupert Port Authority in partnership with Maher Terminals (RREEF Infrastructure) and CN Rail opened a modern $160 Million terminal

• Shortest sea link between Asia and North America with connections to Chicago, Toronto and Memphis

• New facility capable of handling 500,000 TEU initially, with possibilities to expand to 2 million TEU per year

• Capable of handling up to 12,000 TEU vessels with 16 m. draft

• Second Phase already started to be completed by 2010.

Page 37: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Lazaro CardenasLazaro Cardenas

LAZARO CARDENAS

MEXICO CITY

28

Truck viaLaredo

Monterrey,Saltillo, SLP

Used by permission of BNSF

Page 38: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Punta ColonetPunta Colonet

• 27,000 Acre multibillion dollar Deep SeaPort • Located 150 miles South of Tijuana• Mostly an agricultural and fishing town• Looked as the best place for a Mexican Megaport for 2025

• Port Cost: US$400 - 600 million• Rail Cost: US$2-6 billion• Idea is to handle 1 million TEU initiallyand expanding to 5 million TEU

Page 39: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

AgendaAgenda

• Traffic AF2007

• Alternative Routes

• Expansion Program Components, Scope & Time Line

• Traffic AF2007

• Alternative Routes

• Expansion Program Components, Scope & Time Line

Page 40: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Conceptual DesignConceptual Design

Page 41: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Draft12.04 m (39.5’)

Draft15.2 m (50’)

Actual Locks – Vessel Max: 4,800 TEUs

New Locks – Vessel Max : 12,600 TEUs

32.3m (106’)

33.5m (110’)

49m (160’)12.8m (42’)

294.1m (965’)

304.8m (1000’)

366m (1200’)

427m (1400’)55m (180’)

18.3m (60’)

New Locks Dimensions

Page 42: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

17.3M TEU

2012 (including new orders)

Container capacity evolution in TEU – Dec’07Container capacity evolution in TEU – Dec’07

.6M TEU 1.6M TEU 2.8M TEU

29.19%

24.79%

46.03%2007

Others %Others %

TEU Panamax %TEU Panamax %

TEU Post- panamax %TEU Post- panamax %

1996

68.60%

26.35% 5.05%1980

97.09%

2.91%

1990

81.15%

17.51% 1.34%

26.93%

38.26%34.81%

10.2M TEU

25%

29%

Page 43: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Evolution of the Full Container Ship Fleet Evolution of the Full Container Ship Fleet

Number of Vessels TEU Capacity Number of

Vessels TEU Capacity Number of Vessels

TEU Capacity

Feeders 100-499 438 136,079 11 2,607 449 138,686Feedermax 500-999 785 574,847 155 130,864 940 705,711Handy 1,000-1,999 1144 1,613,546 321 459,448 1465 2,072,994Sub-Panamax 2,000-2,999 673 1,697,300 167 426,865 840 2,124,165Panamax 3,000-4,000+ 727 2,905,510 328 1,376,161 1055 4,281,671Post-Panamax 3,700 - 13,300 557 3,734,910 474 4,215,918 1031 7,950,828

4,324 10,662,192 1,456 6,611,863 5,780 17,274,05512.9% 35.0% 32.6% 63.8% 17.8% 46.0%

18.3% 24.8%

Source: ACP, Shipping Intelligence Network, Clarkson Research, December 2007.

% Post-Panamax

% Panamax

Total

Average Vessel Size

Vessel Size Full Container Ship Fleet -December 10, 2007 Orderbook 2007-2012 Projected Fleet 2012

Page 44: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Range Size Number of Vessels Capacity Average Vessel Size

13,000 - 13,300 37 486,672 13,15312,000 - 12,999 43 542,840 12,62411,000 - 11,999 10 113,800 11,38010,000 - 10,999 28 280,536 10,0199,000 - 9,999 34 327,470 9,6318,000 - 8,999 124 1,044,242 8,4217,000 - 7,999 12 89,598 7,4676,000 - 6,999 94 612,132 6,5125,000 - 5,999 52 278,932 5,364

Total order (5,000+) 434 3,776,222 8,701Source: Clarksons - on-line Service, Dec. 2007

Orderbook of Post Panamax (5,000+)Orderbook of Post Panamax (5,000+)Full Container Ship - Dec. 2007Full Container Ship - Dec. 2007

Page 45: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Additional Cargo Capacity Possibilties for DryBulker in the Expanded Panama Canal

Additional Cargo Capacity Possibilties for DryBulker in the Expanded Panama Canal

80,238 95,000 117,000 125,000 130,000

Page 46: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Additional Cargo Capacity for Tankersthrough the Expanded Panama Canal

Additional Cargo Capacity for Tankersthrough the Expanded Panama Canal

Existing CanalTanker Vessel with Maximum

DimensionsVessel Data Aframax Suezmax VLCCDeadweight Tonnage (DWT) 91,844 100 - 119,999 120 - 199,999 > 200,000Utilization percentage of vessel trhough the Canal 70.0% 94.7% 89.6% 73.9%

Cargo in metric tons 64,257 107,520 146,316 226,205 LOA (m) 272.5 269 267 326Beam (m) 32.2 39.3 46.3 49Fresh water draft (m) 15.5 16.0 17.02 20.64Dimensions allowed by the Panama CanalLOA (m) 294.2 366 366 366Beam (m) 32.2 49 49 49Fresh water draft (m) 12 15.2 15.2 15.2Unrestricted vessel utilization percentage 96% 96% 96% 96%

Cargo carrying capacity with maximum draft of 15.2 m 83,045 101,818 131,107 167,064

Additional cargo allowed with expanded Canal (in MT) 18,788

Expanded CanalSize Range for Tanker Vessels in

Expanded Canal

Page 47: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Canal Expansion Program ComponentsCanal Expansion Program Components

Deepening and Wideningof the Atlantic Entrance Channel

Deepening and Wideningof the Atlantic Entrance Channel

AtlanticPost Panamax Locks

AtlanticPost Panamax Locks

Increase the Maximum OperatingLevel of Gatún Lake

Increase the Maximum OperatingLevel of Gatún Lake

Deepening and Widening of theGatún Lake Navigation ChannelsDeepening and Widening of the

Gatún Lake Navigation Channels

PacificPost Panamax Locks

PacificPost Panamax Locks

Deepening of the Culebra CutNavigation Channels

Deepening of the Culebra CutNavigation Channels

Deepening and Wideningof the Pacific Entrance Channel

Deepening and Wideningof the Pacific Entrance Channel

Access Channel to PacificPost Panamax Locks

Access Channel to PacificPost Panamax Locks

Page 48: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Atlantic Entrance(Dredging - 14 M m3)

Atlantic Entrance(Dredging - 14 M m3)

1 Contract1 Contract

Width: 225m (740´) ▶Width: 225m (740´) ▶

Atlantic Entrance Deepening and WideningAtlantic Entrance Deepening and Widening

Page 49: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Post Panamax LocksPost Panamax Locks

Atlantic and Pacific Locks(30 M m3 Dry Excavation)

Atlantic and Pacific Locks(30 M m3 Dry Excavation)

1 Contract1 Contract

Gatun LocksGatun Locks

Gatun LakeGatun Lake

Atlantic OceanAtlantic Ocean

New LocksNew Locks

Gatun DamGatun Dam

Page 50: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Post Panamax LocksPost Panamax Locks

Atlantic and Pacific Locks(30 M m3 Dry Excavation)

Atlantic and Pacific Locks(30 M m3 Dry Excavation)

1 Contract1 Contract

Pedro Miguel Locks

Pedro Miguel Locks

MirafloresLocks

MirafloresLocks

America’s Bridge

America’s Bridge

New LocksNew Locks

CentenialBridge

CentenialBridge

Page 51: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Operation of Water Saving BasinsOperation of Water Saving Basins

Existing LocksExisting LocksNew LocksNew LocksW

ater

Uti

lizat

ion

Wat

erU

tiliz

atio

nWith the water saving basinsthe new locks will use 7% less water than the existing locks

With the water saving basinsthe new locks will use 7% less water than the existing locks

WSB 1 WSB 2 WSB 3

Page 52: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

3D Concept drawing of the physical model3D Concept drawing of the physical model

Lower pool (Ocean)

Lower pool (Ocean)

Upper pool(Gatun Lake) Upper pool(Gatun Lake) WSBWSB

Locks Physical Hydraulic Model1:30 Scale

Locks Physical Hydraulic Model1:30 Scale

Supporting wallsSupporting walls

Lock ChambersLock Chambers

Page 53: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

View of the upper chamber & poolView of the upper chamber & pool

Locks Physical Hydraulic ModelLocks Physical Hydraulic Model

Page 54: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Locks Physical Hydraulic ModelLocks Physical Hydraulic Model

Page 55: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Tank Test - Navigation Model 1:80 Scale

Tank Test - Navigation Model 1:80 Scale

Page 56: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Gatun Lake and Culebra Cut Deepening and Widening

Gatun Lake and Culebra Cut Deepening and Widening

Deepening and Widening of the Gatún Lake and

Culebra Cut Navigation Channels(Dredging - 27 M m3)

Deepening and Widening of the Gatún Lake and

Culebra Cut Navigation Channels(Dredging - 27 M m3)

Page 57: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

152.4m(500’)152.4m(500’)

Old WidthOld Width

192m(630’)192m(630’)

New WidthNew Width

Gaillard Cut Widening by Panama Canal Dredgers

Gaillard Cut Widening by Panama Canal Dredgers

1957 – 1971 Widening of Gaillard Cut from

91.5 m (300’) to 152.4 m (500’)

1957 – 1971 Widening of Gaillard Cut from

91.5 m (300’) to 152.4 m (500’)

1992 – 2002 Widening of Gaillard Cut from

152.4 m (500’) to 192 m (630’)

1992 – 2002 Widening of Gaillard Cut from

152.4 m (500’) to 192 m (630’)

Page 58: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

North Access Channel to New Pacific LocksNorth Access Channel to New Pacific Locks

Pacific Locks North Access Channel Excavation

46M m3

5 Contracts

Page 59: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

PAC 5PAC 5PAC 2PAC 2

PAC 4PAC 4

PAC 3PAC 3

PAC 1PAC 1

North Access Channel to New Pacific Locks 46M m3 of Dry Excavation - 5 Contracts

North Access Channel to New Pacific Locks 46M m3 of Dry Excavation - 5 Contracts

PAC 1PAC 3

PAC 4

PAC 2

New Locks

STATIONSPAC 5

Elev

atio

nin

Met

ers

Page 60: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

North Access Channel to New Pacific LocksPhase 1 – First Contract 7.4 Mm3Bid was awardedJuly 17, 2007 and work is well underway

North Access Channel to New Pacific LocksPhase 1 – First Contract 7.4 Mm3Bid was awardedJuly 17, 2007 and work is well underway

Page 61: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

RFP issued: September 18, 2007

Pre-Bid Conference and site visit: October 2, 2007

Bid Opening: November 14, 2007

Award: November 27, 2007.

RFP issued: September 18, 2007

Pre-Bid Conference and site visit: October 2, 2007

Bid Opening: November 14, 2007

Award: November 27, 2007.

North Access Channel to New Pacific LocksPhase 2 – Second Contract 7.5 Mm3

North Access Channel to New Pacific LocksPhase 2 – Second Contract 7.5 Mm3

Page 62: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Pacific Entrance(9.1 M m3 – Dredging)

Pacific Entrance(9.1 M m3 – Dredging)

1 Contract1 Contract

225m (740´) Min225m (740´) Min

Pacific Entrance Deepening and WideningRFP Published August 30, 2007

Pacific Entrance Deepening and WideningRFP Published August 30, 2007

RFP issued: August 30, 2007.

Pre-Bid Conference: September 20, 2007.

Site visit: September 19, 2007.

Bid Opening: February 28, 2008.

Expected Award: March 2008.

RFP issued: August 30, 2007.

Pre-Bid Conference: September 20, 2007.

Site visit: September 19, 2007.

Bid Opening: February 28, 2008.

Expected Award: March 2008.

Page 63: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Schedule of Main Components of the ProjectSchedule of Main Components of the Project06 2007 2008 2009 2010 2011 2012 2013 20143T 4T 1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T 1T 2T 3T 4T

%Avance

100%

19%

8%

0%

0%

0%

5%

3%

0%

8%

0%

0%

0%

49%

*Updated as of November 30, 2007. Baseline from December 31, 2006.*Updated as of November 30, 2007. Baseline from December 31, 2006.

ContingencyContingency

Dre

dgin

g

EIS Expansion Program (Category III)

Excavation Contract 1

Excavation Contract 2

Excavation Contract 3

Excavation Contract 4

Excavation Contract 5

Dredging of Culebra Cut

Dredging of the Atlantic Entrance

Dredging of the Pacific Entrance

Increase Operating Level of Gatún Lake

Expanded Canal Begins Operations

Design & Build Pacific Locks

Design & Build Atlantic Locks

Specifications and Procurement

Acc

ess

Cha

nnel

Lock

s

Dredging of Gatún Lake

Activity

Specifications and DesignSpecifications and Design

Baseline*Baseline*

Bidding and ContractingBidding and Contracting

BaselineBaseline

ExecutionExecution

BaselineBaselineEarly FinishEarly Finish

Begin OperationsBegin Operations

Page 64: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Uninterrupted Transit Operations

during Dredging Works

Uninterrupted Transit Operations

during Dredging Works

Page 65: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Uninterrupted Transit Operations during Dredging WorksUninterrupted Transit Operations during Dredging Works

Page 66: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Pedro Miguel LocksPedro Miguel Locks

Miraflores LocksMiraflores Locks

America’s BridgeAmerica’s Bridge

New Pacific LocksNew Pacific Locks

Centenial BridgeCentenial Bridge

Pacific OceanPacific Ocean

Atlantic OceanAtlantic Ocean

New Atlantic LocksNew Atlantic Locks

Gatun LocksGatun Locks

Gatun LakeGatun Lake

Uninterrupted Transit Operations during Locks & Dry Excavation Works

Uninterrupted Transit Operations during Locks & Dry Excavation Works

Page 67: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

AgendaAgenda

• Traffic AF2007

• Alternative Routes

• Expansion Program Components, Scope & Time Line

• Locks Contracting Plan

• Traffic AF2007

• Alternative Routes

• Expansion Program Components, Scope & Time Line

• Locks Contracting Plan

Page 68: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Locks Design-Build ProjectContracting Schedule

Locks Design-Build ProjectContracting Schedule

Final RFP Issued

22-FEB-08

Issue RFQ27-AUG-07

SOQ Due15-NOV-07

BidProposal

Due In15-AGO-08

ContractAward

15-DEC-08

Short-ListSelection

14-DEC-07

Issue DraftRFP

2007

Aug OctJul Sep Nov SepMay Jun Jul AugAprJan MarDec Feb Oct Nov Dec

2008 2009

Pre BidConference23-JAN-08

InformationMeeting

13-SEP-07

8 months8 months 4 months4 months

Page 69: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Members:• ACS Servicios, Comunicaciones y Energía, S.L. – Leader, (Spain)• Acciona Infraestructuras, S.A. – (Spain)• Fomento de Construcciones y Contratas, S.A. – (Spain)• Hochtief Construction AG – (Germany)• Constructoras ICA S.A. de C.V. – (Mexico)

Designers (subcontractors):• Sener Ingeniería y Sistemas, S.A. – (Spain)• Haskoning Nederland BV – (Netherlands)• Hochtief Consult – (Germany)• Mott Macdonald Limited – (United kingdom)

Manufacter of Gates:• ACS Servicios, Comunicaciones y Energía, S.L. - (Spain)

Members:• ACS Servicios, Comunicaciones y Energía, S.L. – Leader, (Spain)• Acciona Infraestructuras, S.A. – (Spain)• Fomento de Construcciones y Contratas, S.A. – (Spain)• Hochtief Construction AG – (Germany)• Constructoras ICA S.A. de C.V. – (Mexico)

Designers (subcontractors):• Sener Ingeniería y Sistemas, S.A. – (Spain)• Haskoning Nederland BV – (Netherlands)• Hochtief Consult – (Germany)• Mott Macdonald Limited – (United kingdom)

Manufacter of Gates:• ACS Servicios, Comunicaciones y Energía, S.L. - (Spain)

C.A.N.A.L. ConsortiumC.A.N.A.L. Consortium

Page 70: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Members:• Bouygues Travaux Publics – Leader (France)• Bilfinger Berger – (Germany)• VINCI Construction Grands Projets – (France)• Construcoes e Comercio Camargo Correa S.A. – (Brasil)• Construtora Andrade Gutierrez S.A. – (Brasil)• Construtora Queiroz Galvao S.A. – (Brasil)• ALSTOM Hydro Energia Brasil – (France)• BARDELLA Industrias Mecánicas – (Brasil)

Designer (subcontractor):• AECOM – Leader (United States)

Manufacter of Gates:• ALSTOM Hydro Energia Brasil – (France)

Members:• Bouygues Travaux Publics – Leader (France)• Bilfinger Berger – (Germany)• VINCI Construction Grands Projets – (France)• Construcoes e Comercio Camargo Correa S.A. – (Brasil)• Construtora Andrade Gutierrez S.A. – (Brasil)• Construtora Queiroz Galvao S.A. – (Brasil)• ALSTOM Hydro Energia Brasil – (France)• BARDELLA Industrias Mecánicas – (Brasil)

Designer (subcontractor):• AECOM – Leader (United States)

Manufacter of Gates:• ALSTOM Hydro Energia Brasil – (France)

Panama Atlantic-Pacific ConsortiumPanama Atlantic-Pacific Consortium

Page 71: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Members:• Bechtel Internacional, Inc. – Leader (United States)• Taisei Corporation – (Japan)• Mitsubishi Corporation – (Japan)

Designer:• Bechtel Internacional, Inc. – Leader (United States)

Manufacter of Gates (subcontractor):• Wuchang Shipyard – (China)

Members:• Bechtel Internacional, Inc. – Leader (United States)• Taisei Corporation – (Japan)• Mitsubishi Corporation – (Japan)

Designer:• Bechtel Internacional, Inc. – Leader (United States)

Manufacter of Gates (subcontractor):• Wuchang Shipyard – (China)

Bechtel, Taisei, Mitsubishi CorporationBechtel, Taisei, Mitsubishi Corporation

Page 72: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Members:•Sacyr Vallehermoso S.A. – Leader (Spain)•Impregilo S.p.A. – (Italy)•Jan de Nul n.v. – (Belgium)•Constructora Urbana, S.A. – (Panama)

Disigners (subcontractors):•Montgomery Watson Harza (MWH) – Leader (United States)•IV-Groep – (Netherlands)•Tetra Tech – (United States)

Manufacter of Gates (subcontractor):•Heerema Fabrication Group – (Netherlands)

Members:•Sacyr Vallehermoso S.A. – Leader (Spain)•Impregilo S.p.A. – (Italy)•Jan de Nul n.v. – (Belgium)•Constructora Urbana, S.A. – (Panama)

Disigners (subcontractors):•Montgomery Watson Harza (MWH) – Leader (United States)•IV-Groep – (Netherlands)•Tetra Tech – (United States)

Manufacter of Gates (subcontractor):•Heerema Fabrication Group – (Netherlands)

United for the CanalUnited for the Canal

Page 73: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Global Ranking of Companies involved in the Prequalification

Global Ranking of Companies involved in the Prequalification

4 of the Top 5 Global Contractors

4 of the Top 5 Global Contractors

9 of the Top 30 Global Contractors

9 of the Top 30 Global Contractors

All 4 Consortiahave at least 1 member in theTop 30 list

All 4 Consortiahave at least 1 member in theTop 30 list

Page 74: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Global Ranking of Companies involved in the Prequalification

Global Ranking of Companies involved in the Prequalification

Page 75: Update on the Panama Canal Expansion Program · cortes castilla cabezas quetzal barrios santo tomas de castilla spr buenaventura spr cartagena spr barranquilla puerto cabello la guaira

Update on the Panama CanalExpansion ProgramUpdate on the Panama CanalExpansion Program

Rodolfo SabongeVicepresident, Market Research and [email protected]

Rodolfo SabongeVicepresident, Market Research and [email protected]