Agreement

China Merchants Ports buys port of Paranaguá, Brazil

China Merchants Ports has bought 90% of the Brazilian company TCP Participaçoes, which manages the port of Paranaguá, the second largest in the South American country, located in the State of Paraná (south), EFE reported.

The agreement between the two companies closed for about $935 million, TCP Participaçoes said in a statement to the financial market.

In 2016, China Merchants Ports, as a group, had investments in 28 ports and 188 docks for containers, six […]

Panama ready to implement the Convention for the control of Ship’s Ballast Water

El Convenio Internacional para el Control y la Gestión del Agua de Lastre y los Sedimentos de los Buques protegerá el medio ambiente.

The International Convention for the Control and Management of Ships’ Ballast Water and Sediments, adopted in 2004 (BWM), comes into force on 8 September, and aims to prevent the spread of harmful aquatic organisms from one region to another, establishing standards and procedures for the management and control of ballast water and sediments of ships.

Accordingly, all ships engaged in international maritime transport must carry out their ballast and sediment water management in accordance with […]

BID promotes Mesoamerican transport, logistics and integration

El corredor mesoamericano.

The Inter-American Development Bank (IDB) announced a contribution of $800,000 through the approval of two technical cooperation grants, each of $400,000, for the Strategic Program for the Development of Infrastructure and the Strategic Program for the Development of Integration.

In both cases, the beneficiary countries will be Mexico, Belize, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and the Dominican Republic, members of the Mesoamerica Project.

In this way the IDB will contribute to the […]

Panama Canal signs agreements to boost sustainability in its basin

The Panama Canal signed four cooperation agreements with the Banesco and Banistmo banks, Manzanillo International Terminal (MIT) and the car sales company Ricardo Pérez S.A., to collaborate in projects of social responsibility.

In this way, the parties will work together with contributions to promote the sustainable development of the Panama Canal basin and its residents. In addition, they will coordinate specific projects for environmental protection, the integral well-being of the people, the culture, the community […]

Copa-Pullmantur agreement could generate about $16 million for Panama

Más personas toman cruceros para sus vacaciones.

A collaboration agreement between Panama’s Copa Airlines and the Spanish cruise ship company Pullmantur could generate for Panama about $16 million, by promoting a stay in the country of two days by 130,000 visitors during the season 2017-2018, according to the Panama Tourism Authority (ATP).

The ATP Deputy Minister, Jennifer Champsuir, explained at a press conference that a study was made with the Spanish cruise company to see the impact of promotional packages that will […]

Panama to have a one-stop shop maritime system

The Panama Maritime Authority and the Panama Canal Authority have reached an agreement for the creation of a one-stop shop that aims to streamline the procedures related to maritime trade in the country.

The two entities have signed an institutional cooperation agreement and will begin the procedures to create the Panama One Stop Window (VUMPA for its initials in English).

The aim of the VUMPA will be to streamline maritime transport through the simplification of […]

Panama’s new Asian partner

La Canciller y Vicepresidenta de la República, Isabel de Saint Malo y el Ministro de Relaciones Exteriores de China, Wang Yi intercambiaron documentos estableciendo relaciones diplomática.

By Marijulia Pujol Lloyd

The Popular Republic of China is no longer sleeping and the mighty dragon has woken up and is ready to take over the world. This Asian nation has plans for Europe, Africa and Latin America, and Panama is at the top of its “to do list”.

Free commerce is in the mind of the Chinese government and the Panama Canal is an important part of its strategy.

On June 12, 2017, […]