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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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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Nicaragua, Chinese tycoon say canal work will start in 2014

Nicaraguan President Daniel Ortega and Chinese tycoon Wang Jing on Saturday said plans to start building a $40 billion canal across the Central American country were on track for late 2014.

Their remarks appeared aimed at shooting down any idea of a delay. Nicaragua’s Canal Authority chief Manuel Coronel Kautz recently was quoted as saying […]

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Nicaragua: Canal project will face 1 year delay

Nicaraguan legislators in June approved granting Beijing-based telecommunications CEO Wang Jing a concession to build and operate a canal more than three times the length of Panama’s.

Nicaragua’s government says the construction of the nation’s inter-ocean canal will start a year later than planned because the waterway’s path has yet to be defined.

The […]

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Nicaragua Canal champion turns eye to Ukraine

China remained publicly noncommittal about extending new financial support to Ukraine’s embattled President Viktor Yanukovych during his visit this week to Beijing. Still, the former Soviet country won a commitment from a more unusual source: a Chinese businessman most famous for wanting to build a rival to the Panama Canal.

Wang Jing, who this year […]

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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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