PressNewsStudiesA new “highway” for the Panama Canal

A new “highway” for the Panama Canal

Service & Contacts

Allianz Group Communications
Koeniginstr. 28
80802 Munich

Contact overview

Receive the latest Allianz news.


Follow Allianz in the social networks:


  • Contact

  • Newsletter

  • Social Media

Since the Panama Canal opened in summer 1914, more than 815,000 vessels have passed through on their way between the Atlantic and Pacific Ocean. In 2015 alone, 12,300 vessels used this short cut to avoid the much longer journey around the Cape Horn. Using the canal, the journey from New York to San Francisco cuts out almost 7,500 miles (12,000 km).


Allianz SE
Munich, Aug 11, 2016

With the opening of a third lane, now “New Panamax” vessels can pass through the 102 year old waterway. The New Panamax ships have a capacity of 12,600 teu (teu = A twenty foot long container. That’s roughly the height of a giraffe). The length of one of these containers is comparable to the height of and are about as long as four football fields. Andrew Kinsey, Senior Marine Risk Consultant at Allianz Global Corporate & Speciality (AGCS), explains, “with the increase in size of vessels transiting the Canal, you have a corresponding increase in operational, environmental and commercial risks”. One fully-loaded 12,600 teu container ship for example can easily reach a cargo value of 250 million US dollar.

There is also a low level of risk associated with the 102 year old waterway. There is around 1 incident for every 6,000 transits, instead in Suez Canal it’s around 1 for every 1,450 transits. And it is trending further down. Over the last 20 years, the main causes of shipping incidents were vessel collisions, contact with walls and machinery damage and failure.

In an attempt to maintain the safety and reduce incidents, the Panama Canal Authority (ACP) invested in training resources, prevention programs and contingency plans. One example is a training for captains because the Canal represents a “new shipping environment for many marines” according to Captain Rahul Khanna, Global Head of Marine Risk Consulting at AGCS.

Allianz-Cross sectional image showing the Panama Canal from the Pacific Ocean to the Atlantic Ocean. The length of the Canal is 51 miles.
Cross sectional image showing the Panama Canal from the Pacific Ocean to the Atlantic Ocean. The length of the Canal is 51 miles.

  Forward Looking Statement disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:


  Press contact

Bettina Sattler
Allianz SE
Phone +49.89.3800-16048
Send email

More at

Poll Position

Allianz-Poll Position
Sep 21, 2017 | Allianz SE

Few can deny that Chancellor Angela Merkel has benefited from Germany’s recent economic prosperity. But as elections near, it’s important to remember that measures are still required to enhance the country’s growth potential…


New Leadership at Allianz Deutschland and Allianz Italia

Allianz-New Leadership at Allianz Deutschland. Klaus-Peter Röhler named CEO
Sep 19, 2017 | Allianz SE

The Supervisory Board of Allianz Deutschland AG today named Dr. Klaus-Peter Röhler as Chairman of the Management Board (CEO) and successor to Dr. Manfred Knof, effective January 1, 2018. The Allianz Italia Board of Directors  decided to appoint Giacomo Campora, 50, as CEO of Allianz Italia as of January 1, 2018.


'Allianz Multinational' bundles expertise for international Property & Casualty insurance solutions

Allianz-'Allianz Multinational' bundles expertise for international Property & Casualty insurance solutions
Sep 19, 2017 | Allianz SE

Under the name “Allianz Multinational,” Allianz is bundling its expertise for international insurance solutions from the property and casualty insurance sectors across the Group. Companies operating on a cross border basis – regardless of size – can access international insurance products tailored to their unique market and risk profiles through a central source.