Pre-feasibility study for new Panama Canal in October

Consultants Parsons Brinkerhoff International and Montgomery Watson-Harza are due to present a prefeasibility study for the Panama Canal expansion project this month with final studies then to be undertaken in 2004. The new Canal project is being driven by the ever-expanding size of the world’ s maritime fleet, of which just 8% is currently composed of postPanamax ships although this is expected to grow to 30% within 30 years, making the existing Canal infrastructure increasingly obsolete.