Cosco Opens Central America and Panama Business Lines
- Business & Finance
Cosco China Shipping Group has launched two new lines of business, namely, COSCO Shipping Lines (Central America) and COSCO Shipping Lines (Panama), following the opening of the Expanded Panama Canal.
The new business segments were launched on July 27, one day after the official opening of the new USD 5.25 billion canal, as the company looks to expand its market.
The first commercial transit began with the passage of the Chinese containership COSCO Shipping Panama through the Agua Clara Locks on the Atlantic side of the country and concluded with its transit through the Cocoli Locks on the Pacific side.
COSCO Shipping Panama left the Greek Port of Piraeus on June 11 and is on its way to Asia.
The Expanded Panama Canal is now officially open for business, and the regular schedule of transits was launched on June 27.
Panama Canal Administrator and CEO Jorge L. Quijano, said that there are currently “170 reservations for Neopanamax ships, commitments of two new liner services to the Expanded Canal, and a reservation for the first LNG vessel, which will transit in late July.”
World Maritime News Staff