Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Four years later, Nicaragua’s $40 billion interoceanic canal remains a pipe dream

There are fears that Wang could now use his 50-year concession to sell the rights to ports

From the Miami Herald:

Four years ago last month, Daniel Ortega made headlines across the world by announcing that a Chinese firm would build a $40 billion interoceanic canal in Nicaragua, which would compete with the Panama Canal […]

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Why China and Nicaragua’s canal project is floundering

From Fortune Magazine:

Another Chinese partnership that may be less—and more—than it appears.

[T]he project faces obstacles as big as its ambitions—many of them internal. Chinese billionaire Wang Jing, who heads the Hong Kong Nicaragua Development Group that’s leading the project, has personally funded much of the preliminary work—but in 2015, he lost more than […]

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China’s faltering, but Nicaragua isn’t giving up on canal plans

Manuel Coronel Kautz isn’t a man who’s easily deterred. Good thing. Because as head of Nicaragua’s Canal Authority, he’s seen the $50 billion, Chinese-backed project suffer setback after setback. The latest: 12 months of construction delays on a key port just as financial turmoil in China deepens speculation the funding won’t come through.

Three years […]

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Nicaragua Canal may face additional roadblock

Excerpts from the Maritime Executive:

The Nicaragua Canal project, which has been plagued by environmental setbacks and delays, may have been dealt another blow.

According to reports, the Chinese stock market crash wiped out almost 90 percent of Hong Kong Nicaragua Canal Development Group’s Chairman and Chief Executive Officer, Wang Jing’s net worth. Wang was […]

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China stock crash imperils proposed Nicaragua Canal

Bloomberg reports that Wang Jing no longer has sufficient collateral for a secured loan of the size needed to start construction of his proposed Nicaragua Canal.

The net worth of Chinese entrepreneur Wang Jing, the driving force behind a proposed canal across Nicaragua, has fallen $9.1 billion since mid-June, when China’s stock market collapsed. No […]

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Nicaraguan Canal plan sets off wave of protests

From the Wall Street Journal:

A schoolboy held a sign in protest of the canal’s construction during a February demonstration in El Tule town. Reuters photo.

Nicaraguan government officials justify the pending expropriations, which would uproot 27,000 people, saying the canal will transform this impoverished Central American nation by creating 50,000 jobs and doubling […]

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'Digging for truth' on the Nicaragua Canal

Several thousand protesters, shouting ”We don’t want the Chinese”, protested in Managua, the capital, despite police efforts to keep them in their villages, activists say. Boatmen in Punta Gorda on the Caribbean coast have refused to ferry heavy machinery to be used to begin construction, fearing their livelihoods will be harmed.

From an article […]

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Thousands take to street in Nicaragua to protest China canal deal

More than a thousand people protested against the project in Managua.

A massive demonstration rocked Nicaragua’s capital of Managua as protestors opposed to the construction of a US$50 billion Nicaragua Canal took to the streets on Wednesday. Some protesters held banners reading “Chinese get out!” and “No canal.” The project, which is to begin […]

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Work on Nicaragua Grand Canal to begin in December, completed in 2019, says commissioner

The construction of the Interoceanic Canal of Nicaragua, also dubbed the “Nicaragua Grand Canal,” will begin in December and be completed by 2019, Telémaco Talavera, a member of the Grand Canal Commission, told the EFE news agency in recent days.

The canal will be three times longer than the Panama Canal and be able to […]

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Alarm as Nicaragua starts canal route survey

Teams of assessors accompanied by soldiers and police have begun surveying properties along the route of Nicaragua’s planned interoceanic canal, taking quick steps toward the start of a vast project the country has dreamed of for more than a century.

But the process is alarming many residents, who say they fear they’ll lose their homes […]

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Nicaraguan lawmaker: Our canal won’t compete with Panama’s

”Nicaragua’s canal will have a much wider strip across the country, in other words, it will be able to admit much bigger ships than would fit in the Panama Canal, even when it’s enlarged,” Castro said.

The interoceanic canal that Nicaragua plans to build will not compete with Panama’s because it does not target […]

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Russia plans to join Nicaragua Canal project

Russia will take part in building the Nicaragua Canal and is discussing possible modes of cooperation, Deputy Foreign Minister Sergei Ryabkov said Tuesday.

“We have discussed this multiple times with our Nicaraguan colleagues,” Ryabkov said in an interview with RIA Novosti. “We are looking for appropriate ways in which Russia can get involved in this […]

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U.S. Willing To Invest In A New Nicaragua Canal To Rival The Panama Canal

The U.S. public and private sectors would be willing to come together to jointly invest in the construction of a $40 billion “Nicaragua Canal” that would rival the Panama Canal, according to a U.S. Department of Commerce official.

Deputy Assistant Secretary Walter Bastian said that he finds the project “fascinating” and that the U.S. government […]

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