The Boards discussed the progress and results of projects within the permanent modernization program – many of which have increased capacity, reduced Canal Waters Time (CWT) and enhanced reliability. The ACP was congratulated by the Advisory Board for its early completion of the widening of the Gaillard Cut, the conversion of floodgate machinery and the modernization of the locomotive fleet and towing rails. Other projects recognized at the meeting included the implementation of the AIS system and the deepening of Gatun Lake.
“As we strive to increase capacity and operate the Canal with utmost efficiency, the Advisory Board becomes more important – an invaluable asset. It is composed of some of the world’s most impressive figures in shipping, finance, business and academia.
It gives me and our Board of Directors strategic advice – straight, honest and insightful counsel,” said Canal Administrator Alberto Alemán Zubieta.
Presided by William A. O’Neil, Secretary-General of the International Maritime Organization (IMO), the Advisory Board was founded on December 13, 1999, and meets twice a year: once in Panama and once at a city important to the international maritime industry. The Board is composed of members from the shipping industry, academic, commercial and financial fields and provides strategic counsel to the ACP and the Board of Directors on important issues relating to the management and administration of the Canal.
About the Panama Canal Authority
The Panama Canal Authority is the autonomous agency of the Government of Panama in charge of managing, operating, and maintaining the Panama Canal. The operation of the Panama Canal Authority is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the Panama Canal Authority’s Web site: www.pancanal.com.
The Authority’s responsibility to the Panamanian people is paramount. The Canal belongs to the people and benefits from the Canal should accrue to as many Panamanians as possible. The Authority plans its future so that it will continually contribute to the economic development and welfare of the citizens of Panama.