News Briefs

Week in Review – Vol. 35 No. 7

NEW PORT

The China Landbridge Group made its first investment in Panama on large scale by a Chinese company with the construction and operation of a new port on Margarita Island, Colón. The first terminal, in addition to being able to handle neopanamax ships, will feature a high-quality logistics park to meet the significant demand that will be generated by the Canal expansion.

LOWEST BID

The CEC (China State Construction Engineering Corporation) consortium won 563 […]

Week in Review – Vol. 35 No. 6

COROZAL MOVES

Four major port operators from Denmark, France and Singapore were prequalified in the bidding process for the design, construction and operation of the container transshipment port of Corozal, to be built on the Pacific side of the Panama Canal with a calculated investment of at least $500 million. The four port operators are APM Terminals (Denmark), Terminal Link (France), PSA International (Singapore) and Terminal Investment Limited (the Netherlands), said the Panama Canal Authority […]

Week in Review – Vol. 35 No. 4

CANAL INTEREST

The investment of $5,000 million in the expansion of the Panama Canal has woken up the “interest of many customers” and the cost will be amortized by 2029, said the administrator, Jorge Quijano, in Miami, where he participates in the Global Strategy Forum. “I am pleased to see that we are at the end of the road and we expect to see revenues increase substantially,” following the opening next June, Quijano said.

LOWERING […]

Week in Review – Vol. 35 No. 2

EXPECTANCY

The Panama Canal estimates that from 2020, with the new locks, “approximately 25 million metric tons of liquefied natural gas (LNG) will transit every year,” said its manager, Jorge Luis Quijano. “The discovery of large gas reserves in the area of the Gulf of Mexico, in the United States, in recent years, has opened the opportunity in a matter of months for the first exports of liquefied natural gas, and given the expansion of […]

Week in Review – Vol. 35 No. 1

UNIVERSITY POST

Rodolfo Sabonge, who has had a meritorious career in the maritime industry and teaching, has been appointed Vice President for Research, Graduate Studies and Extension of the Panama International Maritime University (UMIP). Until recently he served as Rector of the University of the Caribbean, based in Panama. Graduated in mechanical engineering from the University of Notre Dame, he holds a master’s degree in maritime development and a major in business administration from the […]

Week in Review – Vol. 34 No. 25

ON THE SLIDE

The commercial activity of the Colón Free Zone (CFZ) maintained its downward trend towards the end of 2015. Figures from the Comptroller’s Office confirmed that between January and November this barely exceeded $20 billion, marking a slowdown of 10% compared to the same period of 2014. In the first 11 months of 2015, re-exports amounted to a value of $10,518 million, 13.7% less than the $12,194 million in the same period of […]

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 […]