International Bodies Pledge Loans for Panama Canal Expansion
Posted on Dec 11, 2008 in Financing, Markets and Competition, Vessel Transportation | Comments Off on International Bodies Pledge Loans for Panama Canal Expansion
According to Platts LNG Daily, five international bodies, including a wing of the World Bank, have pledged $2.3 billion in loans, about half of the estimated amount needed, for the proposed Panama Canal expansion. The expansion would allow standard-sized LNG vessels to pass through the canal by 2014, significantly shortening the trading routes for cargoes between the Atlantic and Pacific basins. [Subscription required]