CANAL BLAME GAME
President Ricardo Martinelli blamed the former administrator of the Panama Canal Authority (ACP) Alberto Alemán Zubieta, for the current crisis paralyzing the expansion work on the waterway. “Alberto Alemán Zubieta is responsible for what is happening. He knew what could happen and should have taken this into account”, the president said in an interview on his (Martinelli’s) NexTV channel.
After three weeks of intense negotiations, the Panama Canal Authority (ACP) [...]
CFZ FEELS PINCH
The commercial activity in the Colon Free Zone (CFZ) closed 2013 at $27,900 million, down 9.4% compared to the previous year, which was $30,800 million. This fall, according to a report on banking published by the Superintendence of Banks of Panama (SBP), corresponds to the current situation faced with two major trading partners: Colombia and Venezuela.
The $100 million paid to the government by businessmen of the Colon Free Zone [...]
The former administrator of the Panama Canal, Alberto Alemán Zubieta, revealed details of a system used by the canal to secure a shielded contract in awarding the tender for the third set of locks. Alemán Zubieta, who headed the canal until September 2012, said all items were considered to measure the risks of the work through the lens of international independent technical advisors in the selection process, including auditors and qualified [...]
The Panamanian government announced that the European Investment Bank (EIB) is exploring the possibility of financing new infrastructure projects in the country such as the Metro Line 2 and a new bridge over the Panama Canal. A delegation from the EIB, led by its chairman, Werner Hoyer, and Vice-president, Magdalena Álvarez Arza, met with the Minister of Foreign Affairs of Panama, Fernando Nunez Fabrega, to evaluate this possibility, said a Panamanian [...]
If the contractor Grupo Unidos por el Canal (GUPC) delays more than four months to comply with the delivery of the second set of gates for new locks, it will impact the expansion program, warned the Panama Canal Authority (ACP). This topic has been the focus of discussion and debate in the ACP, after the transfer of the gates remains bogged down in the middle of a dispute between the subcontractors [...]
The past twelve months have been very demanding for the shipping and logistic industry, with delays in the Panama Canal widening works, new laws for the ancillary maritime industry and the development of logistic parks and ports. This is a brief summary of the most important news of the years.
Panama’s auxiliary maritime industry is looking to fill port gaps
It is a well known fact that the auxiliary maritime industry in Panama is [...]
CANAL COST HICCUP
An additional $1,300 million is being sought by the consortium Grupo Unidos por el Canal (GUPC) that is managing the building of the third set of locks to be delivered in June 2015. The Panama Canal Authority (ACP) administration and the Board agreed that the claims were made following the process established by the contract. Jorge Luis Quijano, administrator of the waterway, said: “The project is not going to stop. [...]