News Briefs

Week in Review – Vol. 34 No. 2

National newsbriefs

BIGGEST IN RRGISTRY

What is currently the world’s largest container ship, Mediterranean Shipping Company’s MSC Oscar, with 394 meters in length and a cargo capacity of about 19.224 TEUs, joined the Panamanian registry. The ship, built in South Korea, claims to be the most efficient in the world, and was built thinking about respecting the environment and not only can it carry 35% more cargo, but consumes 35% less fuel.

CANAL ARBITRATION

The [...]

Week in Review – Vol. 34 No.1

EXPOCOMER OPENS

The thirty-third edition of the Panama trade show, Expocomer, will be held from March 11 to 14 with the participation of businessmen from over 35 countries, revealed Lorena Kirchman, International Business Executive of the Panama Chamber of Commerce, Industries and Agriculture. It is the only trade fair in the region that, to date, has subsisted under the scheme of a multi-sector fair, as compared to fairs in other countries that only focus on [...]

Week in Review – Vol. 33 No. 52

MORE CANAL INCOME

The Panamanian government expects the Panama Canal to generate additional contributions to the treasury of about $500 million from 2017, said the Minister of Economy and Finance, Dulcidio De La Guardia. With regard to the contribution of the Canal for 2015, De La Guardia said the government expected it to be “similar to last year”, i.e., $1.03 billion.

LOGISTICS FORUM

With the theme “Logistics Development: Outstanding Debt”, the directors of the Panamanian [...]

Week in Review – Vol. 33 No. 51

EXPANSION SPENDING

The Panama Canal Authority (ACP) invested, until December 31 last year, $4.54 billion in the expansion works of the waterway, estimated to cost $5.25 billion. This is shown in Quarterly Report No. 33, which details the progress of the waterway expansion and emphasizes that, in this period, the manufacture of the Canal’s new gates in Pordenone, Italy was completed, and the transfer of the last four gates was also made.

POLIES VISIT CANAL

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Week in Review – Vol. 33 No. 50

COLÓN FREE PORT

President Juan Carlos Varela created a High Level Group to promote the development of the Amador Causeway and another to assess the viability of the Colón Free Port Project. The purpose of the first HLG is to analyze comprehensively the development of the Amador area to include a port for cruise ships, maximizing the use and development of the properties belonging to the Administrative Unit of Reverted Properties (UABR), attract tourism and [...]

Week in Review – Vol. 33 No. 49

National newsbriefs

NEW CANAL STRIKE

The workers’ strike in the Pacific Access Project (PAC4), which is part of the Canal expansion, will remain until the contractor reinstates the worker who was dismissed on December 23 and a new payroll audit is conducted. This was confirmed by the secretary of the National Union of Construction and Allied Workers (UNTRAICS), Abelardo Herrera, who noted that the negotiations held with the directors of the ICA-MECO-FCC Consortium “remain stagnant.”

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Week in Review – Vol. 33 No. 48

National Newsbrief

POWER LOSS

The National Authority for Public Services (ASEP) canceled the final license granted to Panama NG Power company by the government of President Ricardo Martinelli to build a thermoelectric gas plant on Telfers Island in the province of Colón. It is the largest power generation project that was on schedule with 670 megawatts and represented an investment of over one billion dollars to begin operating in 2017. The company sent a message [...]