The administrator of the Panama Canal Authority (ACP) Jorge Luis Quijano, said that the health of the waterway as a company “is very good” and that it will make this year’s contributions to the State of above $1,000 million. “The health of the Canal is very good, with contributions from surplus, plus tolls, which will exceed one billion dollars, which is very good for any company,” said Quijano, addressing journalists shortly before participating […]
CANALS AT WAR
The Panama Canal wants to remain competitive, but refuses to raise tolls in the “price war” which, in its opinion, has been launched by the Suez Canal in Egypt, which is offering up to “65% discount,” said the administrator of the waterway. According to Jorge Luis Quijano, these discounts are causing many ships that head for the east coast of the United States to return to Asia through the Egyptian route instead […]
NEW AIRLINE AT COLON
Air Freight Caribbean (Taeca) will become the first company to use the almost intact facilities of the Enrique A. Jimenez Airport in Colon. With an initial investment of $120,000 in offices and $600,000 projected for the initial operation, the Panamanian company will begin operations once the aeronautical certifications are issued to acquire their aircraft and aviation permits as a national company.
Panama’s National Assembly approved on third and final […]
More than 105 neo-panamax ships have transited the expanded Canal since its inauguration on June 26, the Panama Canal Administrator, Jorge Quijano said. These transits have generated between $50 and $55 million, but he explained that “not everything is new income, since a large part of panamax vessels have switched to neo-panamax”. He noted that 13% of the transits are new segments such as liquefied natural gas.
The Budget Commission of […]
After Panama won the case against Colombia in the World Trade Organization (WTO) over high tariffs on imported clothing and footwear, the Colombian government announced that it will seek new measures to prevent the entry of “smuggled goods” from any part of the world. According to the Minister of Foreign Trade of Colombia, María Claudia Lacouture, the State will insist on this type of protection. “We have the confidence, that together with Panama, we […]
The authorities of Panama and Costa Rica signed an agreement, which must be ratified by the parliaments of each country to streamline procedures, services and the movement of cargo through Customs on their border crossings. The National Director of Customs of Panama, Jose Gomez, said that the agreement sets a deadline of 60 days to be submitted to the parliaments of each country for ratification. The implementation of the Integrated Control System covers […]
Panama climbed five positions in the Logistics Performance Index ranking compiled by the World Bank every two years. The country jumped from 45th place in 2014 to 40th this year, as the first in Latin America, ahead of Chile (46) Mexico (54) and Brazil (55). It is also the fifth country in the world in a sub-classification of territories with medium-high income, behind South Africa (20), China (27), Malaysia (32) and Turkey (34).