19 August 2008 22:20 [Source: ICIS news]
HOUSTON (ICIS news)--The Panama Canal (ACP) connects two oceans, but it also has a link to Houston, Texas, government sources said on Tuesday.
Both depend on each other for business now more than ever since the canal is in the midst of a huge expansion. ACP CEO Alberto Alemán Zubieta called
The canal renewed a similar agreement with the
The canal needs the
In recent years the Canal has been losing business because huge supertankers and post-Panamax-sized ships are too big to go through it.
The Canal expansion project will add a new lane of traffic along the existing locks that will double capacity and, more importantly, allow longer and wider ships, according to the Canal Authority.
The canal's expansion would supposedly make
“Our friendship with
($1 = €0.68)
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