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Retrofits delay use of widened Panama Canal

Wednesday, August 24, 2016

The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected because many ships must first undergo inconvenient retrofits to transit through the new locks, shipping industry experts said.

The modifications to these bigger oil carriers - which mostly involve fittings such as chocks and bollards that secure the ship's dock and tow lines - are needed because the new locks that opened in June use tug boats rather than locomotives to pull vessels.

Source: Reuters