Canal Cruising Update Nicaragua, Panama and Suez Canals

Proposed Route of the Nicaraguan Canal

Nicaragau has announced in a joint venture with Chinese business man Wang Jing, a 280 plus kilometer canal joining the Pacific and Caribbean Sea will be built by 2020. This project with an estimated $40 billion USD budget will allow larger vessels to make the transit than the newly upgading Panama Canal. The new canal is being financed and built by China and will include an international airport, two seaports and oil and railroad lines. The investment will be massive for the Nicaraguan economy. The Panama Canal The Panama Canal is being upgraded to handle larger vessels with larger locks and dredging of the current canal. The project is expected to be fully operational in early 2016. Currently ships must wait at peak times for transiting the canal. Wait times are expected to diminish with the newly upgraded canal. In addition, the Panama Canal is less than a third of the length of the proposed Nicaraguan Canal. Time Lapse of Lock Gates Unloading for The Panama Canal The Suez Canal Expansion Egypt has announced that the Suez Canal will be expanded to handle more ship traffic. Currently ships must only transit the canal one way and wait for traffic against their route to cease. The new canal is projected to allow ships to pass side-by-side for quicker transits and be completed by 2023. Egypt is hoping to privately finance the project. These canal projects are all good news for cruisers looking for faster transit times from one ocean to another. W.R. Hodgens Marine Insurance specializes in yacht insurance for any ocean in the world. Go to our Yacht Insurance Quote Form for a fast quote for your yacht.

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