Investment

Canal the main topic at the Latam Ports & Logistics Summit

Latam Ports & Logistics Summit

The Latam Ports & Logistics Summit took place last month at the Sheraton Hotel of Panama City. The event organized by BN Americas, a Chilean company which has nine years’ experience in the area, managed to gather shipping and logistic leaders from all over the world to discuss the impact that the Panama Canal widening will have on shipping routes, finding financing to build a port and the importance of insuring cargo.

Among the speakers [...]

Sacyr has two months to find $290 million

Los trabajos de ampliación del Canal tienen seis meses de retraso

The agreement reached on February 27 between the construction consortium GUPC and the ACP is working towards unlocking the third set of locks on the Panama Canal, but it was not for another month that the project began to enter normal rhythm. Much of the blame lies with the entry of new money to the GUPC petty cash box.

The consortium partners (Sacyr, Impregilo, Jan de Nul and Cusa) injected $100 million that was committed [...]

U.S. trade mission to visit Panama City

US businessmen involved in security and surveillance equipment will visit Panama from September 22 to 26 to explore business opportunities with local firms.

The Commerce Department of the United States has organized this trade mission to Panama and Colombia for companies in the security sector.

Corozal port project attracts more interest

El proyecto del Puerto de Corozal está suspendido por el momento

The Panama Canal expansion has highlighted the need to build new ports in the country, especially on the Pacific.

An initiative was put forward by the Panama Canal Authority (ACP) to create a new terminal in the Corozal area, on land that belongs to it.

Results of the preliminary study to construct this port have been positive, but the matter was put on stand-by until the works of the third set of locks are concluded.

[...]

Nicaraguan canal studies questioned

Lago Nicaragua

The Nicaraguan canal environmental impact analysis being made by a British group hired by the Chinese company responsible for the project, has been questioned by Nicaraguan presidential adviser for environmental issues, Jaime Incer. He questioned the results of environmental impact studies conducted by the British firm Environmental Resources Management (ERM) on the Nicaragua canal project.

“The major flaw is that, although the company is very reputed, the only fact that it is contracted by the [...]

Pacific Rubiales oil settles in Panama

Pacific Rubiales, the company that explores for and produces oil and gas in Colombia, and is selling most of Colombia’s oil, linked to this country since the Panamanian Government introduced incentives to attract foreign investment to the sector, has announced it will move its Board of Directors to Panama.

Pacific Rubiales said its office in Colombia will continue to implement the same operations.

“The company has not moved offices. Pacific Rubiales has opened a corporate [...]

Port of Malaga readies for Canal expansion impact

El Puerto de Málaga busca extender sus servicios en Panamá

Senior representatives of the Port of Malaga, Spain, met with the Minister of the Presidency, Roberto Henriquez, to show their interest in links and exchanging information with the Panamanian authorities for the international business and economic impact the Panama Canal expansion will have when it is completed by mid-2015.

The Spanish delegation included the president of the Port of Málaga, Paulino Plata, the director of the maritime terminal, José Moyano and the director of the [...]