News Briefs

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 [...]

Week in Review – Vol. 34 No.19

PORT OPERATORS AFTER COROZAL

The largest port operators in the world have expressed interest to the Panama Canal Authority (ACP) in participating in the public tender for the concession to operate the port in Corozal. The ACP has received letters from 11 companies expressing their interest to be considered in the pre-qualification process, demonstrating the great demand for this service on the Panamanian Pacific coast, said the ACP.

COROZAL “URGENT”

The Panama Chamber of Shipping [...]

Week in Review – Vol. 34 No. 18

LEAKING LOCKS

The consortium Grupo Unidos por el Canal (GUPC) which is building the third set of locks on the Panama Canal, has not given the final report on the leaks detected more than two months ago on the Pacific locks. The Canal administration announced that it has received preliminary reports, but is still waiting on a final report on the failure. After more than two months since the leaks appeared in the Canal Expansion, [...]

Week in Review – Vol. 34 No. 16

LEAKING LOCK

A failure of steel reinforcements caused the leaks detected in one of the walls of the new locks of the Panama Canal expansion project, and the contractor will reinforce this and other parts of the structure without the delivery date of the work being affected, which is scheduled for April 2016. The Panama Canal Authority (ACP) announced that Grupo Unidos por el Canal (GUPC), project manager of the new locks, set out in [...]

Week in Review – Vol. 34 No. 15

LEAKING INFO

After leaks in one of the chambers of the new gate of the expansion project of the Panama Canal were found, engineers of GUPC, say that its designer, Montgomery Watson Harza, “is still assessing the cause of the problem and has not yet submitted a report to the Panama Canal Authority”. At least, this is the information that was released by the Panama Canal administrator, Jorge Luis Quijano.

INSIDE TRADING

“The Panama Maritime [...]