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Ocean shipping, Panama Canal.

edited February 3 in Other Investing
On February 2, 2025, Panama offered several concessions to the United States following a meeting between Secretary of State Marco Rubio and President Jose Raul Mulino. The concessions include:

Free passage for US warships through the Panama Canal.
Withdrawal from China’s Belt and Road Initiative.
Optimizing transit priority for US Navy ships through the waterway.
These concessions were made in response to concerns raised by the US regarding Chinese influence over the Panama Canal and the high fees charged to US ships. Additionally, the Panamanian government discussed migration issues, offering an airstrip near the Darien Gap for repatriation proceedings
.

Maybe I can breathe again re: BLX? But I am pissed. The Orange bully got his way. Granted, the Chinese installations---non-military--- did make me itch.

Comments

  • Free passage for US warships through the Panama Canal.

    I heard this on the radio this morning and the first word that popped into my head was "extortion".
    That's a nice canal you have over there. Sure would be a shame if something were to happen to it.

    The quotes sound like a Rubio PR piece.

    Take "high fees charged to US ships". Rubio himself acknowledged: "the high fees for canal transit disproportionately affect Americans, because U.S. cargo accounts for nearly three-quarters of canal transits".

    Use the canal more, pay more. That doesn't seem so hard to understand.
    https://www.commerce.senate.gov/2025/1/sen-cruz-evidence-shows-panama-may-be-in-violation-of-canal-treaty

    Withdrawal from China’s Belt and Road Initiative.
    Panama conceded nonrenewal, not withdrawal, though it will attempt the latter.
    https://nypost.com/2025/02/03/us-news/panama-to-end-relationship-with-chinas-belt-and-road-initiative/

    "Free passage" and "optimizing transit priority" sound like they may violate the Treaty Concerning the Permanent Neutrality and Operation of the Panama Canal between Panama and the US.
    The Republic of Panama declares the neutrality of the Canal in order that both in time of peace and in time of war it shall remain secure and open to peaceful transit by the vessels of all nations on terms of entire equality, so that there will be no discrimination against any nation, or its citizens or subjects, concerning the conditions or charges of transit, or for any other reason,
    https://2001-2009.state.gov/p/wha/rlnks/11936.htm

  • edited February 3
    The US lost 25,000 people in the construction and it cost $2,000,000,000,000 in today’s dollars to build. And Carter gave it away. Genius move on his part.

    President Trump hardly got his way.
  • You might want to re-Google or AI your numbers.

    "Records indicate that during the period of US construction, more than 55,000 people were employed and an estimated 5,600 died of injury and disease. The death toll would have been higher without effective protocols to control vectorborne diseases, in effect a second “special wonder of the canal.” LINK

    The French lost the other 20K during their effort to construct the canal prior to going bankrupt.

  • edited February 3
    Despite the monumental effort, about 5,600 workers died from disease and accidents during the US construction phase of the canal. Of these, the great majority were West Indian laborers, particularly those from Barbados. The number of Americans who died was about 350.
    Wickipedia, ref McCullough 1977, pp. 582–585, 610.

    $375,000,000 in 1914 = $11,835,187,500 in 2025. So what?

    @Gary1952 has a lot in common with that army helicopter pilot: "I have the aircraft in sight". Right.

    Trumpers just make up fake "facts" whenever it suits them (which is most of the time).
  • a2z
    edited February 4
    MAGA re-googles, is sure both are 25 bazillion.

    in reality, canal pay per use w/out upkeep, and w/out having to support the entire nation of panama to an american std-of-living (even that of missibama) is a bargain.
  • edited February 3
    $2,000,000,000,000 = $2 trillion. Bad ROI?

    Edit: I see others have already corrected the numbers.

    Add: Very few seem to have good instincts for reality, continually oscillating between extremes.
  • edited February 3
    You guys are running a sit com. Ya I just added a couple of zeros to make someone chase their tail. $630m is about $20b today. Ok the US (contractor) lost 22-30,000 workers. I saw when googled “ Estimates of the number of people who died building the Panama Canal range from 22,000 to 30,000. The Panama Canal is considered the deadliest construction project in history.”
  • edited February 3
    @Old_Joe,

    Pardon my ignorance / lack of imagination.

    One of the posters has been posting GQP for GOP. What does the Q in GQP stand for?

    If you do not know the answer, I will ask the poster about it when I see it next time.
  • BaluBalu said:

    @Old_Joe,

    Pardon my ignorance / lack of imagination.

    One of the posters has been posting GQP for GOP. What does the Q in GQP stand for?

    If you do not know the answer, I will ask the poster about it when I see it next time.

    GQP = my reference to the 'GOP' which often embraces whackadoodle fringe conspiracy theories from the 'Q' cult on the internet
  • AKA Maggot "Facts".
  • Gary1952 said:

    You guys are running a sit com. Ya I just added a couple of zeros to make someone chase their tail. $630m is about $20b today. Ok the US (contractor) lost 22-30,000 workers. I saw when googled “ Estimates of the number of people who died building the Panama Canal range from 22,000 to 30,000. The Panama Canal is considered the deadliest construction project in history.”

    Wait, so you just appear and throw out slop for the heck of it? wtf?

    Today's online world is overflowing with slop and worse than slop. Go away ffs.
  • edited February 4
    Rick, Thanks.

    Q is the old MAGA which is now consigned to the role of useful enablers. Current GOP is run by the new MAGA. I was going to call it Grand Billionaires’ Party but that confuses with the pre-Trump era. I will have to wait for someone creative to come up with the new name / acronym that is descriptive enough to capture the new MAGA.
  • BaluBalu said:

    Rick, Thanks.

    Q is the old MAGA which is now consigned to the role of useful enablers. Current GOP is run by the new MAGA. I was going to call it Grand Billionaires’ Party but that confuses with the pre-Trump era. I will have to wait for someone creative to come up with the new name / acronym that is descriptive enough to capture the new MAGA.

    Fascist Blockhead Deplorables
  • edited February 4

    Gary1952 said:

    You guys are running a sit com. Ya I just added a couple of zeros to make someone chase their tail. $630m is about $20b today. Ok the US (contractor) lost 22-30,000 workers. I saw when googled “ Estimates of the number of people who died building the Panama Canal range from 22,000 to 30,000. The Panama Canal is considered the deadliest construction project in history.”

    Wait, so you just appear and throw out slop for the heck of it? wtf?

    Today's online world is overflowing with slop and worse than slop. Go away ffs.
    That's what Chahta from Big Bang is good for.
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