News Briefs

Week in Review – Vol. 34 No. 13


The defense lawyer of Nicholas Perez Balladares Corcione warned that his client can not be investigated for alleged money laundering because he is a member of the board of the Panama Canal. The businessman and director of the Panama Canal Authority (ACP) Perez Balladares Corcione did not attend the office of the Special Prosecutor against Organized Crime that had called him to appear in the investigation for alleged money laundering through accounts [...]

Week in Review – Vol. 34 No. 12


The Panama Canal Administration (ACP) presented its budget for 2016. The administrator, Jorge Luis Quijano, and the Minister of Canal Affairs, Roberto Roy, delivered to a full sitting of the National Assembly documents on the project amounting to $2,630 million.


The Panama Maritime Authority (AMP) decided, through Resolution 106-67 DGMM of July 30, 2015, to make additional discounts to newly built vessels that register under the Panamanian merchant marine up [...]

Week in Review – Vol. 34#11


The “severe” El Niño effect on rainfall has diminished the catchment of the Panama Canal watershed and is causing lower levels in the Gatun reservoir, the main source of water for the operation of the waterway and water supply for human consumption. The phenomenon, says the Panama Canal Authority (ACP), could cause a restriction on the draft of ships, if insufficient rains continue in the area.


The Panama government seeks to [...]

Week in Review – Vol. 34 No. 10

National newsbriefs


The Panamanian Association of Merchant Marine Officers (Apom) formally demanded that the Superior Council of the Panama International Maritime University (UMIP) “make an immediate call” for new elections for the rector. The request comes amid a legal dispute with the suspended rector, Victor Luna Barahona, claiming office after elections last October.


After the financial crisis facing Greece, Panama ordered an extension until August 31 to pay taxes without interest [...]

Week in Review – Vol. 34 No. 9

National newsbriefs


The new locks on the Pacific side of the Panama Canal, in the area of Cocolí, began to flood “successfully,” said the Panama Canal Authority (ACP) and the contractor responsible for the work. Unlike the locks on the Atlantic side, which began to flood by gravity a fortnight ago, the Pacific is filled with electric pumps and diesel pumps, said the CEO of Grupo Unidos por el Canal (GUPC), [...]

Week in Review – Vol. 34 No. 8

National newsbrief


After years of trade with Colombia and the multi-million Venezuelan debt held by businessmen, the Colon Free Zone (CFZ) is looking for new markets to face the prevailing bad moment in this zone. Since 2014, the Colon Free Zone Users’ Association (AU) seeks to attract new customers from Europe, Asia and Africa. It also seeks innovative ways to market products, trying to compensate for the difficulties which have been caused by [...]

Week in Review – Vol. 34 No. 7


Francisco Miguez, Vice President of Finance of the Panama Canal Authority, reported that the board of the waterway approved delivering to the National Treasury contributions of $1.03 billion for fiscal year 2014. This exceeds by $64 million (6.6%) the budget approved at the beginning of the fiscal year, which was $966 million.


The consortium formed by the Brazilian company, Norberto Odebrecht, and the Spanish group, Fomento de Construcciones y Contratas (FCC), [...]