Investment

MOL leaps ahead with more giant ships

Mitsui OSK Lines (MOL)

The Japanese shipping company Mitsui OSK Lines (MOL) has announced a contract with the Korean shipyard Samsung Heavy Industries, to build four container ships of 20,150 TEU capacities, at a total cost of $619 million.

It will add another two to be built in Japan, for which it has already signed a long-term chartering agreement with Shoei Kisen Kaisha.

The Japanese shipowner noted that these six colossal vessels are the largest in the world, because [...]

Vision of Tocumen in the next ten years

Joseph Fidanque III

By Juan Rafael Cortés Dean

In the plans for the South Terminal of Tocumen International Airport is a monorail that connects with the Panama Metro Line Two that would cost $60 million. There is also a need to build a new control tower, a new Customs center, 20 gates in the terminal, a third runway and a school of logistics.

The master plan may cost $600 million at the end of the development.

This was [...]

China is betting on Latin America

By MarijuliaPujol Lloyd

China is becoming Latin America’s new investor relegating the United States to a second place due to the recession of its economy. Recently the Chinese government pledged to invest $250 billion in Latin America. Although the main recipients of the Asian country’s generosity have been Venezuela, Peru and Ecuador, it has begun to show some interest in Panama.

The Chinese Development Bank lends the money to Latin American countries in exchange for [...]

Fifth lock gate on the Atlantic set of locks inserted into place

Fifth lock gate on the Atlantic set of locks inserted into place

Lock gate A200 has been inserted into its niche of the new Panama Canal locks on the Atlantic side.

This is the seventh lock gate placed into position after the movement of gates B300 and B400 into their niches and B500 and B600 in niches on the Atlantic, and gates F100 and F200 on the Pacific.

Gate A200, which measures 22.28 meters high, eight feet wide and weighs 2,313 tons, was moved through modular trailers [...]

In six months bids to be called for fourth bridge over the Canal

En seis meses licitarán cuarto puente sobre el Canal de Panamá

In six months the Government of Panama will call the bidding process to build the fourth bridge over the Panama Canal, announced President Juan Carlos Varela Rodriguez.

Varela Rodríguez explained that four financial alternatives will be studied that have been submitted by the Ministry of Finance to cover the costs of the work.

The idea that a single contractor would build Metro line 3 and the bridge was also explored, but it was eventually [...]

Logistics Plan at tortoise speed

Puerto de Balboa

As local industry experts had predicted (The Bulletin, December 1, 2014), the organizational structure designed by the government to promote maritime and logistics development in the country is now far removed from the government plan announced in the campaign of the now-President Juan Carlos Varela. He has also proven unable to integrate the public and private sectors in a partnership to pursue the objectives of the Maritime and Logistics Strategy.

The Plan of Government promised [...]

Chinese interested in starting new Panama Canal expansion

The administrator of the Panama Canal, Jorge Luis Quijano, said that a group of Chinese businessmen have shown interest in building and financing a fourth set of locks and will be visiting the ACP again.

The Canal administrator was in a discussion organized by the Panamanian Association of Business Executives (APEDE) to discuss the progress of the Canal expansion when he said that there is no demand at the moment for a fourth set of [...]