Mixed companies paid millions, why not Panama Ports?

Panama Ports, Cristóbal.

By Franklin Castrellón

The ten joint ventures increased their contributions to the State by 36.3% in fiscal year 2015, the director of the Department of Investment, Concessions and Risks (DICRE) of the Ministry of Economy and Finance, Jorge Dawson, told The Bulletin,.

The contributions totaled $163.4 million in 2015 compared to $119.9 million in the previous year.

The greatest contribution in 2015 corresponded to the hydroelectric generating company, Enel Fortuna, with $40.98 million, followed by […]

Pullmantur to operate year-round from Colon

The cruise ship line Pullmantur Cruises is reinforcing its commitment to the development of a permanent operation from the port of Colon 2000 during the 2017 season.

The company now makes Panama one of its main homeports in the Caribbean, increasing the number of passengers who will embark in Colon by more than 30%.

At the regional level, Pullmantur Cruises strengthens its presence in the Caribbean with growth in capacity of 40%. This was explained […]

New lighthouses for Manzanillo and Las Minas

Las torres protegerán a los barcos.

The administrator of the Panama Maritime Authority, Jorge Barakat Pitty, approved the order to proceed to the company Delta Técnicas Auxiliares de la Construcción, S. A., whose objective is the supply and installation of one lighthouse tower on land for the access channel to Manzanillo Bay and two lighthouse towers: (1) marine and (1) on land for the access channel to Bahia Las Minas in the province of Colon, including lighting, according to technical specifications […]

Week in Review September 20

CANALS AT WAR

The Panama Canal wants to remain competitive, but refuses to raise tolls in the “price war” which, in its opinion, has been launched by the Suez Canal in Egypt, which is offering up to “65% discount,” said the administrator of the waterway. According to Jorge Luis Quijano, these discounts are causing many ships that head for the east coast of the United States to return to Asia through the Egyptian route instead […]

Fitch rates Panama Canal with an “A”

The Fitch rating agency confirmed an “A” rating for the Panama Canal Authority (ACP) reflecting a solid revenue profile and low leverage.

Fitch Ratings notes that the Panama Canal provides a unique connectivity and time savings for world maritime trade.

The rating agency believes that the rating outlook is stable, given the strength of the Panama Canal in the economic recession and its strong competitive position, supported by income resulting from the opening of the […]

SICMAR 2016 reflects the vision of the UMIP

La rectora de la UMIP, Ing.Fernanda Billard y el Administrador de la AMP, Jorge Barakat.

With the introduction by the typical music group “Mares de mi Patria” (Seas of my Country) and a welcome cocktail, attended by key players in the maritime industry, the Panama International Maritime University (UMIP) with the support and sponsorship of the Panama Maritime Authority (AMP) opened the second version of the Maritime Civil Engineering Week (SICMAR 2016).

The SICMAR 2016 objective was to find ways to articulate the overall vision that should be aimed for […]

Penta Shipping Services highly competitive group

Penta Shipping le ofrece provisiones frescas.

Penta Shipping Services has more than 10 years of experience and background in the maritime business of ship chandlering in Panama, where a highly qualified and committed staff offers customers the highest expectations on the national and international maritime market. Formerly known as Transocean, following a strategic alliance with Penta Financial Group, the company Penta Shipping Services was born.

The company is located in Corozal, Panama Canal Railway, Galera 9 Panama. Telephones (507) -3076610 to […]