Although some members of the National Assembly rejected the draft law on fiscal equalization for the port of Corozal, the Panama Canal Authority (ACP) defended the proposal to build the terminal to take advantage of all the cargo that will be created with the new locks. The topic was presented by the Deputy Administrator of the ACP, Manuel Benitez, in Panama Maritime XII, held for three days, an event that brought [...]
PPC PAYS DIVIDEND
Panama Ports Company, which holds the state concession to manage the ports of Balboa and Cristobal, delivered dividends to the State for fiscal years 2014 and 2015. The Panamanian government is a shareholder of 10% of Panama Ports Company, but the company maintained as its philosophy reinvesting profits and not distributing dividends. The port operator will pay $10 million for the year 2014 and estimated that for the year 2015 the amount [...]
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.
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 [...]
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.
With the theme “Logistics Development: Outstanding Debt”, the directors of the Panamanian [...]
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
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 [...]