New Administrator For Panama Canal
Dr. Ricaurte Vásquez Morales has been sworn in as the new Panama Canal Administrator.

At the September 5 ceremony at the Panama Canal Administration Building in Panama City, Dr. Morales made the following statement: “I will leave the Canal well-positioned for its next era of growth and have tremendous confidence in the new leadership’s ability to build off our strong foundation."

The new Administrator's 7-year term begins at a time of record tonnage for the Canal following the completion of the Expansion Program, the largest enhancement project in the facility's history.

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New Ultramax Vessels For Belships
Norwegian shipper Belships ASA has signed a seven-year charter for two 61,000 dwt Ultramax vessels.

The newbuilds will be delivered by a Japanese shipyard in Q4 2019 and Q1 2020 for a price of USD 3 million per ship. Belships estimates the bulkers' break-even at USD 11,000 per day.

“We are very pleased to continue the growth and fleet renewal of the company with two vessels of the highest quality being delivered straight into a strong market,” CEO Lars Christian Skarsgård said.

The new vessels will increase the Belships fleet count to 22 Supramax/Ultramax bulk carriers.

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New Volumes Record of Savannah Port

The Savannah Port reported the container volume record having moved a total of 4.5 million of containers in the previous year that ended on June 30th.

According to the report, the container volume increased for more than 305 thousand units, or by %7.3.

Georgia Port Authority handled more than half a million container lifts to rail, growing that number by more than 72 thousand, or 16.6 percent.

As was mentioned by the Georgia Port Authority, the investment in the Mason Mega Rail project came just in time for their capacity and helped to stay ahead of demand and ensure the free flow of intermodal cargo.

At the Port of Brunswick, more than 600 thousand autos and machinery units crossed the docks at Colonel’s Island Terminal, the main port for the import and export of cars, trucks, while roll-on/roll-off cargo volume grew by 4 % at Colonel’s Island in 2019.

Georgia Port Authority also has a program in place that will allow the Savannah Port to simultaneously handle six 14,000 TEU vessels by 2024.
The port can currently accommodate three boxships of that size.