News Briefs

Week in Review – Vol. 33#37

PANAMA CANAL WINS

After learning of the route of the canal to be built in Nicaragua, the administrator of the Panama Canal, Jorge Quijano, said he cannot give a conclusive statement on this project, because they do not have enough information to come to any conclusion, but they are now evaluating the route and will make their best engineering estimates and cost analysis. He also assured that the Panama Canal route offers competitive advantages over [...]

Week in Review – Vol. 33 No.33

EXPANSION RESUMES

The strike by members of the Union of Construction Workers and Similar (Suntracs) came to an end on May 7. Both representatives of Suntracs and the Panamanian Chamber of Construction (CAPAC) reached a compromise on the collective agreement that they had been negotiating for several months. In the agreement there is a wage adjustment over four years of 35.87% that was achieved based on 9% per annum.

MORE CLAIMS

The Panama Canal Authority [...]

Week in Review – Vol. 33 No. 32

MORE CONTAINERS

The Panamanian port system took a surge during the first half of the year registering a growth of 6.9% compared with the same period last year. In the first three months, the ports of Balboa, Cristobal, PSA Singapore (Rodman), Manzanillo International Terminal and Colon Container Terminal, moved 1,643,000 TEUs (containers 20 feet long). Compared to the same period last year there were 105,745 more containers.

SHIP COMPENSATED

The Law of the Sea Tribunal, [...]

Week in Review – Vol. 33 No.31

NEW PORT PLAN

On April 8, the Cabinet authorized the direct sale of 126 hectares on Remo Largo Island in the district of Cristobal, Colon province. The sale will be “through exceptional procedure”, i.e., directly, so that the company SMC Barcelona SA, can construct, develop, manage and operate a multipurpose container handling port and other complementary activities.

WATER EVAPORATES

This summer has been one of the longest in recent years, with Alajuela Lake and Madden [...]

Week in Review – Vol. 33 No.30

WORKERS UNITE

Workers of the ports of Cristobal and Balboa require the Ministry of Labor and Workforce Development (Mitradel) to observe and comply with the right to unionize. The legal representative of these workers, Martín González, said more than 500 employees of Panama Ports Company have taken to the streets to protest for the Mitradel to comply with the ruling of the Supreme Court in favoring the creation of a union since 2010 that they [...]

Week in Review – Vol. 33#29

National newsbriefs

PERU EYING PANAMA

Peru aims to boost its exports to Panama and expand its industrial presence in the country, hence its wide representation at the next Expocomer (March 26 to 29). Panama is among the eight major investors in Peru with almost $1,000 million in direct investment and bilateral trade in 2013 reached $700 million with a favorable balance for the Andean country. In 2013 Peru had 13 exhibition booths at Expocomer Panama, [...]

Week in Review – Vol. 33 No.28

National newsbriefs

RODMAN EXPANDS

The Cabinet authorized the Ministry of Finance (MEF) to celebrate by exceptional procedure with Amador Marina, a contract for leasing, investment and development of seven hectares in Amador to build a marina. The President and his ministers also endorsed for the firm Serviamérica Corp., a lease and investment, with first option, of a site of 12 hectares in Rodman for a multimodal port.

CUSTOMS SHAKEUP

The replacement of the director of [...]