Panama Canal orders floating dry dock

Panama Canal orders floating dry dock

The Panama Canal Authority (ACP) has an approved project for the acquisition of a Floating Dry Dock with its own dedicated breasting quay. It is anticipated that construction should be finished no later than September 2021. The invitation to tender was published on the ACP web page.

The project, explained the document, will be contracted out through public tender and awarded to a contractor. It is expected that the […]

Strike cuts Panama’s port growth to only 0.6%

The illegal strike of more than a week in July at the ports of Balboa and Cristóbal (Hutchison Ports PPC) had its first effects on the movement of containers in the Panamanian port system when its growth was reduced to only 0.6% in the first seven months of the year, compared to the same period of the previous year, according to official figures.

Two of the five container port […]

Panama has its first school ship

After many decades of waiting the International Maritime University of Panama has its own ship to train future seafarers. The vessel, called Atlas III, was donated by the Panama Canal Authority (ACP) on August 27.

The transfer of title ceremony took place at the UMIP and had the verification and guarantee of the Ministry of Economy and Finance.

The ship was refurbished and repaired under the instructions of the UMIP rector, Aládar Rodríguez Díaz. The […]

How to comply with IMO 2020

A KPMG value proposition identifies key aspects in this transition imposed by the maritime regulator, the International Maritime Organization (IMO) that will take effect in less than six months.

The industry seems not yet ready.

Until the end of 2018 there was still an air of hope among a large number of shipping companies that expected the entry into force of the IMO 2020 on Sulphur emissions in fuel, to be postponed into the future, […]

LNG tank operations begin at AES Colon

The liquefied natural gas (LNG) storage tank, of the AES Colón plant began operation and is being used as a primary source for the supply of gas to the power block. This takes place after having completed one year since its inauguration.

During this first year of the AES Colón plant, it was supplied by six ships that provided 976,743 cubic meters (m3) of LNG, contributing 22% of the Panamanian electric system’s electricity generation._

 

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Fitch Ratings confirms “A” rating of the Panama Canal

For the fourth consecutive year, the risk rating agency Fitch Ratings confirmed the “A” investment grade rating with a stable outlook as a long-term debt issuer on the Panama Canal bonds.

The credit rating agency stressed that the waterway is “an asset that is critical, not only for Panama, but also for international trade, as evidenced by its stable performance in terms of cargo volume, solid competitive position and the diversified cargo mix of the […]

Fast transit times by Seaboard ships

Seaboard ships

Seaboard Marine, a shipping line that has served regional importers and exporters for more than 40 years, today offers a much-extended network.

Among Seaboard Marine’s extensive regional trades, the shipping line recently enhanced North Atlantic Ecuador/Peru Service. The weekly service connects Callao and Paita, Peru as well as Guayaquil, Ecuador with the North Atlantic U.S. ports in Brooklyn, Newark, and Philadelphia. The service utilizes Balboa as an […]