News Briefs

Week in Review September 20

CANALS AT WAR

The Panama Canal wants to remain competitive, but refuses to raise tolls in the “price war” which, in its opinion, has been launched by the Suez Canal in Egypt, which is offering up to “65% discount,” said the administrator of the waterway. According to Jorge Luis Quijano, these discounts are causing many ships that head for the east coast of the United States to return to Asia through the Egyptian route instead […]

Week in Review September 5

NEW AIRLINE AT COLON

Air Freight Caribbean (Taeca) will become the first company to use the almost intact facilities of the Enrique A. Jimenez Airport in Colon. With an initial investment of $120,000 in offices and $600,000 projected for the initial operation, the Panamanian company will begin operations once the aeronautical certifications are issued to acquire their aircraft and aviation permits as a national company.

CANAL BUDGET

Panama’s National Assembly approved on third and final […]

Week in Review August 22

CANAL SUCCESS

More than 105 neo-panamax ships have transited the expanded Canal since its inauguration on June 26, the Panama Canal Administrator, Jorge Quijano said. These transits have generated between $50 and $55 million, but he explained that “not everything is new income, since a large part of panamax vessels have switched to neo-panamax”. He noted that 13% of the transits are new segments such as liquefied natural gas.

BUDGET OK

The Budget Commission of […]

Week in Review August 9

SQUIRMING

After Panama won the case against Colombia in the World Trade Organization (WTO) over high tariffs on imported clothing and footwear, the Colombian government announced that it will seek new measures to prevent the entry of “smuggled goods” from any part of the world. According to the Minister of Foreign Trade of Colombia, María Claudia Lacouture, the State will insist on this type of protection. “We have the confidence, that together with Panama, we […]

Week in Review July 25

BETTER BORDER

The authorities of Panama and Costa Rica signed an agreement, which must be ratified by the parliaments of each country to streamline procedures, services and the movement of cargo through Customs on their border crossings. The National Director of Customs of Panama, Jose Gomez, said that the agreement sets a deadline of 60 days to be submitted to the parliaments of each country for ratification. The implementation of the Integrated Control System covers […]

Week in Review July 11

CLIMBING LADDER

Panama climbed five positions in the Logistics Performance Index ranking compiled by the World Bank every two years. The country jumped from 45th place in 2014 to 40th this year, as the first in Latin America, ahead of Chile (46) Mexico (54) and Brazil (55). It is also the fifth country in the world in a sub-classification of territories with medium-high income, behind South Africa (20), China (27), Malaysia (32) and Turkey (34).

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Week in Review – Vol. 35#9 – June 27

NEW EXPANSION

A fourth set of locks on the Panama Canal could be built “If it becomes necessary” and a group of experts will start a feasibility study from October 1. However, there is still no decision, the administrator, Jorge Quijano told the news agency Efe.

HISTORY UNFOLDS

Between 2007 and 2015, during the expansion work of the Canal, 2,250 pieces of archaeological value were found, dating from different periods of the history of Panama: […]