ACP ensures safety of new locks

ACP garantiza seguridad en las nuevas esclusas

By Franklin Castrellón

The Panama Canal Authority (ACP) has rejected as “unacceptable” a study on the safety of transit operations in the new locks that was sponsored by the International Transport Workers’ Federation (ITF) and said it was in a position to ensure “the same efficiency and safety of the current (locks), which make this route one of the safest in the world.”

The study was requested by the ITF from the Foundation of Men […]

Protecting Alajuela Lake

Lago Alajuela.

Mining is often considered harmful for the environment but the Mexican multinational CEMEX, dedicated to manufacture building materials, has shown that this is not always the case.

The company was given a concession of 559 hectares to extract limestone in Chilibre, to the east of Panama City, next to the Alajuela Lake, the reservoir of the Panama Canal and the source of water for the Chilibre plant that supplies this vital liquid.

The four mining […]

Canal will generate less income

Canal de Panamá.

The financial contribution of the Panama Canal to the State for the period 2017-2021 will be 45.3 percent lower than the initial estimate on the enlargement, according to official figures analyzed by the Panamanian press.

The latest projections of the Ministry of Economy and Finance (MEF) for the years indicated were $15,303 million, but in a last adjustment that figure dropped to $8,533 million, said the newspaper La Estrella de Panama.

The reasons cited by […]

Panama will adopt CAUCA in six months

Aduana de Paso Canoas.

Customs Union will unify into a single document the current Customs legislation with changes in processes to establish deposits on merchandise to order and the return of taxes, among other things.

The decree that integrates into a single document all national regulations and the Uniform Central American Customs Code (Cauca) is a missing step towards the full integration of Panama into the Central American Customs Union and accession to the bloc within six months is […]

BCIE finances first natural gas plant in the region

Planta de gas natural.

AES Colon will be the first power generation plant based on liquefied natural gas in the region, and will begin operations in 2018. With this project, Panama’s energy matrix will be strengthened, providing stability with a firmer, competitive fuel and sustainability.

The Central American Bank for Economic Integration (CABEI) approved a $100 million loan to the AES Colon project for the development of the LNG-based plant to be built on Telfers Island, Colon. An important […]

Chinese shipping lines confirm Canal route

El Pasaje Norte-Oeste.

Representatives of China Cosco Shipping, met on April 21 with the administrator of the Panama Canal, Jorge Luis Quijano and reiterated that they have no intention, either now or in the near future, of using the route through the Arctic, because it is too risky for their ships and cargo of their customers.

Quijano said that the representatives of the largest shipping line of China said that in the past they have seen the opportunity […]

A port for Isla Margarita

Una impresión artística del diseño de la futura terminal en Isla Margarita.

Panama Colon Container Port Inc (PCCP) announced that they will soon start construction of the long awaited container port on Isla Margarita, Colon province.

The construction includes a container yard with a capacity to handle up to 2.5 million TEUs per year, with four docks occupying 1,200 meters of water frontage and the first with the ability to serve Neopanamax ships.

The project will make it one of the most important ports in Panama and […]