Discuss Year 2000 Issues Message Board

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Technology Stocks : Discuss Year 2000 Issues

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To: Joey Two-Cents who wrote (7295)	7/27/1999 9:39:00 AM
From: Bald Eagle	Read Replies (2) of 9818

RE: Panama canal. Someone posted here that the Panama canal will br turned over to Panama on Jan 1st of 2000. It was also posted that the canal will be owned by some billionaire Chinese guy and this could cause great disruption to trade. Anyway, I'm not disputing the transfer of ownership issue, but the disruption of trade may not be as bad as portrayed. First of all, the people who own the canal can only make money by charging ships for passing through. The cost is from $50,000.00 to $100,000.00 per ship according to a friend of mine in the shipping industry who I was talking to yesterday. He also said that most of his company's ships don't even use the Panama canal because it is not deep enough for large fully loaded ships to pass through. They go around Cape Horn instead as it is more economic to do that. Also, there are plans in progress to build either a new canal or a railroad line ( for containers ) through Nicaragua. Admittedly, either one won't be finished for years, but the Panama canal deal may not be as potentially catastrophic as originally portrayed here.

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