More capacity means more crew

The growing supply of container industry capacity due to construction of larger ships is not only causing a decline in freight rates, but another shortage: a o lackf crew.

By 2019 the industry will need 42,500 additional officers to handle the expected growth of 7% projected over the next five years, says the Manning Section of the forecaster, Drewry.

The current supply is around 615,000 officers and there is a nominal shortage of about 15,000, [...]

Maersk ordered nine vessels of 14,000 TEUs

The Danish shipping company Maersk Line announced the signing of a contract worth $1,100 million with Hyundai Heavy Industries (HHI) for building nine vessels with a capacity of 14,000 TEUs each.

This is the third purchase of an investment program of $15,000 million announced by Maersk Line in 2014, which includes new container vessels, and retrofitting, among other work.

“I am very pleased with this new order, where we decided to adopt a new approach. [...]

Singapore helps training in Panama logistics sector

Entre las ventajas de la ampliación del Canal será la generación de nuevos empleos

By Marijulia Pujol Lloyd

The logistics sector is very important for Panama’s economy. However, several leaders in this industry have said repeatedly that there is a lack of qualified bilingual personnel that could occupy the posts that are going to be created once the expanded Panama Canal starts operations in 2016.

In order to solve this problem, the Panamanian Association of Cargo Agents (APAC), together with the Logistic Cargo Training Center, the Logistic Business Council [...]

Panamanian Shipping industry fights back

By Marijulia Pujol Lloyd

The maritime industry has been under siege over the last five years with a series of scandals. They involve the sale of seamen’s certificates by Orion Maritime Trading, with the blessing of the then Panama Maritime Authority Administrator, Roberto Linares; the nefarious Law 41 of June 14, 2013, restricting significantly the access of foreign investors to maritime auxiliary industries and then Greece’s financial problems that have hit hard that sector in [...]

Advances of the Panama Canal Expansion project

Creditos para: Canal de Panamá

After eight years of work, the Panama Canal expansion program has reached 91.3% completion as of June 30, according to the latest quarterly report by the Panama Canal Authority (ACP).

The new locks on the Atlantic side began to be filled on June 11, which gave way to the operational testing and quality control of the work. On June 23, gate number eight of the new Gatun Locks, in Colón province, successfully opened and closed [...]

Egypt’s new Suez Canal built in just one year

Abre nuevo Canal de Suez

The first cargo ships have successfully navigated the new Suez Canal in a test that began at the end of July amid heavy security. The work, vital for regional and global trade, will be officially opened during August. The construction of the new waterway, which runs alongside most of the existing canal, began less than a year ago.

The 72-kilometer route allows two-way navigation of larger ships. Numerous container ships sailed through as part of [...]

Tocumen prepares new bond issue

El Aeropuerto Internacional de Tocumen, el “hub” de las Américas

To obtain the financing needed to complete the expansion of the South Terminal, the Tocumen International Airport administration expects to reissue debentures.

The delays that have occurred in the work due to changes in the original project design, prevent the administration from beginning to raise funds for the concession of the new “duty free” area, so they have announced that they will need to issue a new bond debt to complete the financing. It is [...]