News Briefs

Week in Review – Vol. 35 No. 4

CANAL INTEREST

The investment of $5,000 million in the expansion of the Panama Canal has woken up the “interest of many customers” and the cost will be amortized by 2029, said the administrator, Jorge Quijano, in Miami, where he participates in the Global Strategy Forum. “I am pleased to see that we are at the end of the road and we expect to see revenues increase substantially,” following the opening next June, Quijano said.

LOWERING […]

Week in Review – Vol. 35 No. 2

EXPECTANCY

The Panama Canal estimates that from 2020, with the new locks, “approximately 25 million metric tons of liquefied natural gas (LNG) will transit every year,” said its manager, Jorge Luis Quijano. “The discovery of large gas reserves in the area of the Gulf of Mexico, in the United States, in recent years, has opened the opportunity in a matter of months for the first exports of liquefied natural gas, and given the expansion of […]

Week in Review – Vol. 35 No. 1

UNIVERSITY POST

Rodolfo Sabonge, who has had a meritorious career in the maritime industry and teaching, has been appointed Vice President for Research, Graduate Studies and Extension of the Panama International Maritime University (UMIP). Until recently he served as Rector of the University of the Caribbean, based in Panama. Graduated in mechanical engineering from the University of Notre Dame, he holds a master’s degree in maritime development and a major in business administration from the […]

Week in Review – Vol. 34 No. 25

ON THE SLIDE

The commercial activity of the Colón Free Zone (CFZ) maintained its downward trend towards the end of 2015. Figures from the Comptroller’s Office confirmed that between January and November this barely exceeded $20 billion, marking a slowdown of 10% compared to the same period of 2014. In the first 11 months of 2015, re-exports amounted to a value of $10,518 million, 13.7% less than the $12,194 million in the same period of […]

Week in Review – Vol. 34 No. 24

CFZ STILL SHAKY

In the Colon Free Zone (CFZ) nothing has changed since last year, traders say, but in the streets of the zone there are signs indicating premises are being sold or rented, reflecting that the crisis continues. According to the president of the Colón Chamber of Commerce, Jose De La Rosa Lam, the issue of this commercial emporium continues to return to the question of its competitiveness.

UNCONSTITUTIONAL TAX

The full Supreme Court […]

Week in Review – Vol. 34 No. 22

SHORT DREAM

After several attempts and fanciful megaprojects that kept the residents of Aguadulce excited about building a new port on the Pacific coast, a new promise was made to make it happen in these five years. However, this dream faded temporarily when a public tender called by the Panama Maritime Authority (AMP) was declared void.

PUSH ‘N PULL

There was a push and pull between authorities of the Panama Canal Authority (ACP) and the […]

Week in Review – Vol. 34 No. 21

National newsbriefs

DATE LOOMING

On January 15, 2016 the future date of delivery of the Canal expansion will be defined. That day it will be known if the new locks will be completed by April, as planned in the last calculation, or if the work will be delayed due to leaks that were detected last August. According to the timetable presented by Grupo Unidos por el Canal (GUPC) to the Panama Canal Authority […]