SALVAGING UNDERWATER TIMBER IN THE PANAMA CANAL

New Post Public Reply Private Reply Replies (1) Message Board
Kgem

SALVAGING UNDERWATER TIMBER

IN THE PANAMA CANAL

Timber isn’t the first thing that comes to mind when one thinks of the “Panama Canal”, but Beck Group staff learned there is a direct connection. BECK has been involved with Ardan International Group (AG), a Panamanian company that has been extracting and processing hardwood timber submerged nearly one hundred years ago during the construction of the Panama Canal.

As part of the construction of the Panama Canal, a dam was built on the Chagres River to create a new lake that would serve as a portion of the shipping channel. In order to create the lake, vast areas of tropical forest were flooded during the early 1900s. Outside of the main channel, the hardwood timber in the forests was not cut before being flooded. As a result, most of Lake Gatun still contains thousands of hectares of standing, submerged, old growth tropical timber, most of it not visible.

While the canal was under U.S. control, the trees were left standing because they were viewed as a natural navigational defense mechanism for the canal. Since control over the canal was transferred to Panama in 1999, the government has become very interested in taking advantage of the submerged timber resource for economic

development. The Panama government maintains that timber removal will decrease the lake’s navigation hazards and increase potential real estate development on the vast shoreline.

AG acquired the timber concessions to most of the lake, and in 2007, completed a pilot study that helped to determine the volume, species composition, cutting process, transporting methods, milling and quality of timber in the lake. The method for cutting the timber is to use a commercial diver and a hydraulic power chainsaw. The hydraulic fluid used for the chainsaw is essentially vegetable oil, a precaution so as not to harm the lake or fish. A pontoon boat is used to aid the divers as they cut the trees.

The Beck Group performed due diligence on the conclusions of the pilot study. One of their main concerns going into the project was the quality of lumber that could be sawn from timber submerged for over 100 years. Based on their inspection and feedback from customers during the year long pilot study, AG has demonstrated that hardwood lumber produced from the submerged timber is of exceptional quality.

AG’s parent company, Gunderboom of Anchorage, Alaska, has been involved with underwater salvage operations for years and helped establish safe procedures for harvesting submerged logs. Divers descend to the lake bottom, locate a tree, and attach an air bag to the stem so that after it is severed, it floats to the surface. The floating logs are then towed to the shore where they are skidded from the lake for bucking and milling. Over 30 different wood species have been extracted, processed and sold worldwide, including a number of high value species such as cocobolo, ipe, mahogany and teak. In addition, a significant volume of softer, lower value hardwoods (espave) have been processed and sold locally.

http://www.beckgroupconsulting.com/Newsletters/winter_08.pdf

Hollund Industrial Marine Inc. (HIMR) Stock Research Links

HIMR Board Company Profile Buy Rating Time & Sales News Filings Financials
Scroll down for more posts ▼

Top 10 Most Recent News Articles

Aflac's $200M Milestone in Cancer Charity Support

Updated Category News Views 0

Pioneering Efforts Across Decades Here’s an effort that bucks the usual corporate talk. Aflac, the supplemental insurance giant, isn’t just mumbling about its mission; it's doing the heavy lifting in the fight against childhood cancer and blood disorders. With over $200 million in contributions poured into the cause over more than 30 years, they're putting the capital...

Continue Reading
AI Startup Shuttlebase Navigates Name Clash with Change

Updated Category News Views 4

When Two AI Giants Collide Every so often, we get a clash of titans in the business world, and this time it's in the AI universe. New York's Moonshot AI, a champ in autonomous website optimization, hit a bump when its name collided with a Chinese counterpart, also called Moonshot AI. And just like that, the NY company had to chuck their name out the window and don a new...

Continue Reading
Leidos' Autonomous Vessels Chart Bold Naval Waters

Updated Category News Views 1

Leidos' Autonomous Leap with the U.S. Navy Well, today it's all about Leidos, an outfit that's been showing its grit in the world of maritime autonomy. Their systems aren't just tinkering around anymore—they're slicing through the waves at RIMPAC, the Rim of the Pacific, and running alongside the USS Theodore Roosevelt Carrier Strike Group. That's big news in anyone's...

Continue Reading
Muscle Car Fever Revs Up in New Global TV Series

Updated Category News Views 2

Chasing the Dream on Wheels Amid the buzz of New York, there's a roar building up that's hard to ignore. It's a sound that echoes through time, capturing the imagination of petrol heads everywhere—those legendary American muscle cars are back in the limelight. I mean, who hasn't dreamt of launching down a highway in a '69 Ford Mustang? 'The Hunt for Rolling Treasure' is...

Continue Reading
RARE Foundation Rebrands, Focus Still Strong

Updated Category News Views 1

Unveiling the RARE Foundation's New Identity In the stock market, you ride waves of change, and let me tell you, it ain't just stocks and bonds that change names and faces. Case in point: The EveryLife Foundation for Rare Diseases has spiffed up as the RARE Foundation. New name, new logo, the whole enchilada. This isn't just a cosmetic touch-up, though. It's about...

Continue Reading
LeoLabs and SciTec Partner for $93.7M Space Force Deal

Updated Category News Views 1

LeoLabs and SciTec Join Forces for Space Dominance The space race ain't just about rockets blasting off anymore. It's about making sure we've got eyes everywhere, even on the back of our heads, so to speak. Enter LeoLabs teaming up with SciTec to help the U.S. Space Force upgrade their radar systems to something out of a sci-fi flick, armed with a $93.7 million contract...

Continue Reading
RevSystems Joins Elite OpenAI Partner Network

Updated Category News Views 0

RevSystems Inks Deal with OpenAI Partner Network In the latest shuffle of the AI advisory deck, RevSystems just found itself elbowing into the exclusive OpenAI Partner Network. Based out of New York, RevSystems has carved a niche by spinning tech wizardry into tangible business results. Their new status as an OpenAI Select Partner puts them on a playing field where AI...

Continue Reading
Webinar Highlights Workforce Skills and AI Tools

Updated Category News Views 3

The Shift Towards Skills-Based Talent Development The labor market's in a whirl, folks. Employers are scrambling to adapt to rapid changes, chasing after 'skills intelligence' like it's going out of style. On September 24, University of Phoenix, with its band of partners including Jobs for the Future and Skillmore™, will dig into this very topic. This upcoming webinar...

Continue Reading
MCatalysis Secures $5M to Disrupt Fuel Cost Dynamics

Updated Category News Views 1

Funding Fuels Innovation MCatalysis has just secured a hefty $5 million in seed funding to throw down with the big dogs in energy production. This isn't your regular backyard science project; this company is serious about changing the game with a tech-driven approach that could undercut current fuel prices. HL Energy Ventures and Oxford Science Enterprises are backing...

Continue Reading
Hanover Unveils Skinny Veg® for GLP-1 Dieters

Updated Category News Views 4

Seems like Hanover Foods is turning heads with their move into the ever-demanding health-conscious market. This family's stepping into the limelight with their new Skinny Veg® line, clearly targeting folks riding the GLP-1 wave. You see, it's not every day that a company that's been around the block since 1924 shakes things up like this. Simplicity is the Name of the...

Continue Reading

Top 5 Most Recently Viewed Articles

Qualtrics Welcomes Rachita Sundar as CFO to Drive Growth

Updated Category News Views 38

Qualtrics Appoints Rachita Sundar as Chief Financial Officer Qualtrics, a leader in experience management, has announced that Rachita Sundar has joined the company as Chief Financial Officer (CFO). With a wealth of experience spanning two decades in finance leadership, Sundar is set to support Qualtrics' strategic direction. Background of Rachita Sundar Sundar arrives at...

Continue Reading
Understanding the Impact of CEL-SCI's Stock Offering

Updated Category News Views 235

Understanding CEL-SCI Corporation's Stock Fluctuations CEL-SCI Corporation (NYSE: CVM) has recently experienced a significant drop in its stock price, plunging 38.19% during after-hours trading to $8.06. This sudden movement came after the company announced a public offering worth $10 million, which was unexpectedly priced below the prevailing market rate. Details Behind...

Continue Reading
Fortis Inc. Announces Teleconference Details for Q3 2024

Updated Category News Views 120

Fortis Inc. Schedules Q3 2024 Financial Teleconference Fortis Inc. is excited to announce that it will release its third quarter financial results on an upcoming Tuesday in November. The event is set to take place on a specified day at 8:30 a.m. (Eastern Time). During this teleconference, David Hutchens, the President and Chief Executive Officer of Fortis, along with...

Continue Reading
Insights Into Omnicom Group's Upcoming Earnings Announcement

Updated Category News Views 94

Anticipation for Omnicom Group's Earnings Report Omnicom Group (NYSE: OMC) is set to unveil its quarterly earnings soon, and investors are eager to see the results. With analysts projecting an earnings per share (EPS) of $2.02, there is significant interest in how the company will meet or exceed this expectation. Understanding Earnings Guidance For investors, guidance...

Continue Reading
Discover a New Wine Experience at Cork2Glass

Updated Category News Views 194

Exciting New Wine Destination Opening Soon Cork2Glass is thrilled to announce the grand opening of its beautiful new venue in the heart of Cedar Park. This contemporary wine bar and boutique retailer is set to redefine how wine lovers experience their favorite drink. With a thoughtful focus on organic and premium wines sourced from around the globe, Cork2Glass promises a...

Continue Reading