PUBLISHER: The Load Star (www.theloadstar.com)
The Panama Canal Authority (PCA) is planning a green transition that will see the long-term costs of transiting the waterway increase, while counterpart the Suez Canal has announced a more immediate price increase.
The PCA is expected to say tomorrow at the COP26 conference in Glasgow, that it will begin a $70bn long-term development programme to take the canal to zero-carbon emissions by 2050.
The PCA’s climate specialist, Alexis Rodriguez, told The Loadstar: “In the short-term we will continue with our reforestation programme, which has already captured 1bn tonnes of CO2, and we will use that to offset the carbon emissions from the canal, but we do not trade in these emissions.”