{"id":17022,"date":"2016-06-29T14:06:30","date_gmt":"2016-06-29T19:06:30","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=17022"},"modified":"2016-06-29T14:06:30","modified_gmt":"2016-06-29T19:06:30","slug":"the-future-of-panama-expands","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/the-future-of-panama-expands\/","title":{"rendered":"The Future of Panama Expands"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/06\/locks-new.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-17024\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/06\/locks-new-1024x682.jpg\" alt=\"locks new\" width=\"670\" height=\"446\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/06\/locks-new-1024x682.jpg 1024w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/06\/locks-new-300x200.jpg 300w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/06\/locks-new.jpg 1200w\" sizes=\"auto, (max-width: 670px) 100vw, 670px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>The new canal enlarges the volume of ships that transit through it, as well as the opportunities for growth in a country whose economy was already booming.<\/p>\n<p class=\"description\"><span dir=\"ltr\">As <a class=\"hlink\" title=\"Jorge Luis Quijano\" href=\"http:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22Jorge+Luis+Quijano%22\">Jorge Quijano<\/a>, chief executive of the <a class=\"hlink\" title=\"Panama Canal Authority\" href=\"http:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22Panama+Canal+Authority%22\">Panama Canal Authority<\/a> notes, the new Canal will open up new global trade routes.<\/span>\u00a0<span dir=\"ltr\">This is particularly true for cargo which goes through ports in the eastern United States, including those on the Gulf Coast.<\/span>\u00a0<span dir=\"ltr\"><a href=\"https:\/\/www.google.com\/url?q=https%3A%2F%2Fwww.washingtonpost.com%2Fworld%2Fthe_americas%2Fan-expanded-panama-canal-opens-for-giant-ships%2F2016%2F06%2F26%2F11a93574-37d1-11e6-af02-1df55f0c77ff_story.html&amp;sa=D&amp;sntz=1&amp;usg=AFQjCNFl26H3kjsiLBKzExyz2-q4wBgioA\">The opportunity is clear for the transport of liquefied natural gas<\/a>\u00a0(LNG), which the United States produces in abundance.\u00a0<\/span><span dir=\"ltr\">According to Martin Houston, co &#8211; founder of Tellurian, developer of LNG projects, so far only 7% of tankers carrying LNG to Asia pass through the Panama Canal, a figure that will rise to 80% with the expanded Canal.\u00a0\u00a0<\/span><span dir=\"ltr\">The reason is clear:\u00a0&#8220;A tanker loaded with liquefied <a class=\"hlink\" title=\"Natural gas\" href=\"http:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22Natural+gas%22\">natural gas<\/a> in the US Gulf Coast and destined for Asian markets could shorten its travel distance by about 5,000 nautical miles.&#8221;<\/span><\/p>\n<p><span dir=\"ltr\">The changes generated by the Canal expansion have already been noticed in investments in the ports on the Atlantic and Gulf in the United States.<\/span>\u00a0<span dir=\"ltr\">It is expected\u00a0<a href=\"http:\/\/www.google.com\/url?q=http%3A%2F%2Fwww.businessinsider.com.au%2Fpanama-canal-railroads-2016-6&amp;sa=D&amp;sntz=1&amp;usg=AFQjCNHgrfDDtRi-1WwoqWaYlXxbBrvGvw\">there will be a redesign of inland freight routes<\/a>\u00a0which will affect the various transport systems in different ways, because <a class=\"hlink\" title=\"Transportation\" href=\"http:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22Transportation%22\">transporting<\/a> goods produced in the Midwest will cost less if those ports and the Panama Canal are used for shipment to the coast of Asia.<\/span><\/p>\n<p><span dir=\"ltr\">The increase in cargo passing through the Canal also opens up immense business opportunities in terms of services demanded by maritime traffic, especially because of the growth of Panama&#8217;s value as a <a class=\"hlink\" title=\"Logistics\" href=\"http:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22Logistics%22\">logistics<\/a> hub.<\/span>\u00a0\u00a0<span dir=\"ltr\">This is the opinion of Fitch Ratings, which projects that the Panamanian economy will grow by 6.5% in 2018, up from 5.5% in 2016.<\/span>\u00a0<span dir=\"ltr\">Countries in the rest of the isthmus should take note of the opportunities presented by the Canal expansion in terms of facilitation of trade with the rest of the globe, and exports of goods and services to a thriving Panama.\u00a0\u00a0<\/span><\/p>\n<p><span dir=\"ltr\">It is true that there have been difficulties.<\/span>\u00a0<span dir=\"ltr\">The Canal expansion took two more years than was planned, and its\u00a0cost rose considerably higher than projected, but it stands here now, as a modern monument to engineering and also as an example of what can be done when the inhabitants of a country have the will to implement such as work, even in a country far away from the levels of development of other first world nations, it demonstrates that &#8220;it can be done&#8221;.<\/span><\/p>\n<p><span dir=\"ltr\">Panama is still moving forward at an accelerated rate relative to other Central American countries. It is n<\/span><span dir=\"ltr\">ot only the Canal that is expanding, but also the the desire to manifest progress towards modernity.\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The new canal enlarges the volume of ships that transit through it, as well as the opportunities<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[242,10,12,241,39,34,33,62,219,245,243,7,246,244,44],"class_list":["post-17022","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-boca-chica-real-estate","tag-bocas-del-toro","tag-boquete","tag-boquete-real-estate","tag-buenaventura","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-move-to-panama","tag-offshore-real-estate-panama","tag-panama-papers","tag-panama-real-estate","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Future of Panama Expands - Blog and Newsletter<\/title>\n<meta name=\"robots\" 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