AMP continues making progress for the country

Reunión en la Autoridad Marítima de Panamá

The maritime sector has progressed significantly in the past twelve months and provides 23 percent of GDP, the Panama Maritime Authority (AMP) being the third institution that produces more economic benefits for the nation.

This institution has launched projects in Vacamonte, Aguadulce and Puerto Armuelles to boost the economy in these population centers.

Jorge Barakat Pitty, Administrator of the AMP said his institution is “committed to the administration of the national maritime wealth and equitable [...]

TOC Americas to evaluate handling of mega-ships

CSCL Globe es el portacontenedores más grande del mundo, tiene una capacidad de 19.000 TEUs y 400 metros de eslora

The 15th version of the annual forum for container transport in the region, TOC Americas returns to Panama from October 3 to 15, at a crucial moment when the expansion of the Panama Canal – costing $5,200 million – is approaching. Beginning next April, container ships up to 13,000 TEUs can navigate the canal, increasing by more than double, the current capacity of ships of 5,000 TEUs.

It is expected that the opening of this [...]

First International Conference of Maritime Anti-Piracy in Panama

Piratas en Somalia

The first international conference of maritime anti-piracy in Panama seeks to do an analysis about the main areas that are affected by the maritime piracy. The event will be held on Thursday, September 24, 2015 at the Sortis Hotel, Colibrí salon at 08:00 a.m. expecting the participation of various local, regional and international delegates in representation of diverse entities and recognized organizations like shipping agencies, insurance, law firms, marinas, port operators, shipowners and others. Moreover [...]

More capacity means more crew

The growing supply of container industry capacity due to construction of larger ships is not only causing a decline in freight rates, but another shortage: a o lackf crew.

By 2019 the industry will need 42,500 additional officers to handle the expected growth of 7% projected over the next five years, says the Manning Section of the forecaster, Drewry.

The current supply is around 615,000 officers and there is a nominal shortage of about 15,000, [...]

Maersk ordered nine vessels of 14,000 TEUs

The Danish shipping company Maersk Line announced the signing of a contract worth $1,100 million with Hyundai Heavy Industries (HHI) for building nine vessels with a capacity of 14,000 TEUs each.

This is the third purchase of an investment program of $15,000 million announced by Maersk Line in 2014, which includes new container vessels, and retrofitting, among other work.

“I am very pleased with this new order, where we decided to adopt a new approach. [...]

Juan C. Croston sees promising future for Panama maritime sector

Juan Carlos Croston

“The actors should prepare themselves”

Juan C. Croston.

Warning that other countries are prepared to dispute the leadership of Panama as a regional cargo transshipment and logistics hub, the Vice President of Marketing at Manzanillo International Terminal (MIT), Juan Carlos Croston, said he was “quite positive” about the long term potential that will open to Panama when the expanded canal starts operating in the second quarter of 2016.

Among the ports that are ready to [...]

Panamanian Shipping industry fights back

By Marijulia Pujol Lloyd

The maritime industry has been under siege over the last five years with a series of scandals. They involve the sale of seamen’s certificates by Orion Maritime Trading, with the blessing of the then Panama Maritime Authority Administrator, Roberto Linares; the nefarious Law 41 of June 14, 2013, restricting significantly the access of foreign investors to maritime auxiliary industries and then Greece’s financial problems that have hit hard that sector in [...]