2017

Wasted energy because of bad infrastructure

Represa Changuinola I.

By Marijulia Pujol Lloyd

Electric energy is the engine for a country’s development and Panama is investing in green energy to cut down its dependency on fossil fuel. For that reason, wind farms are becoming a good proposition and certain parts of the country where wind tunnels are formed like Penonome and Anton, in the Cocle; Santa Fe in Veraguas and the north of the Colón province have the ideal conditions to create them.

Cocle […]

Cosco Shipping Specialized Carriers increases net profit

Cosco ha registrado un aumento en sus ganancias.

Cosco Shipping Specialized Carriers, a multipurpose freight shipping company, recorded a strong increase in its net profits (not yet audited) during the first quarter ended March 31, 2017. This was mainly due to the high returns from its capital investments.

Profits for the first quarter of 2017 were $1.61 million, recording an astronomical increase of 1,104% compared to a gain of around $133,400 in the same period of 2016.

Cosco Shipping Specialized Carriers said the […]

Shipping company wants to link Dominican Republic with Puerto Rico

Balearia quiere conectar República Dominicana con Puerto Rico.

Spanish shipping company, Balearia, is interested in connecting the Dominican Republic with Puerto Rico, said the Dominican Chancellor, Miguel Vargas, who has met with executives of that company to discuss the issue.

“I have held meetings with the top executives of Balearia, a large Spanish shipping company that offers services in the Mediterranean and also in Florida and the Bahamas,” said Vargas during a conference he gave a few days ago at a lunch organized […]

Customs and procedures are modernized

AUPSA no aumentará costos a la carga de transbordo.

By Franklin Castrellón

As a result of concerns expressed in the Logistics Cabinet Permanent Consultative Council and agreements made in the Cabinet, next June the systems and payments made by electronic means will be modernized and will be initiated in the State entities that provide services to imports and exports, particularly to transshipments. This represents about 95% of the cargo handled at Panamanian ports.

The good news was confirmed this week to The Bulletin by […]

AMP repatriates seamen abandoned in Venezuela

El barco fue abandonado cerca del Puerto de Guanta, Venezuela.

The Panama Maritime Authority (AMP) repatriated the crew of the Panamanian flagged vessel “Pan Prosperity” with IMO No. 9125152, which was abandoned near the Port of Guanta, in the Bolivarian Republic of Venezuela.

The labor complaint by the crew of the “Pan Prosperity” was received by the Department of Maritime Labor Affairs of the Department of Seafarers on March 1, 2017. On initiation of the investigation, it was confirmed that on board the vessel were […]

UMIP forming future seamen

UMIP formando a los marinos del futuro

The Panama International Maritime University (UMIP) emerges because of the need of the country to have a catalyst that, in addition to providing training and development of skills, enhances the human element, promote research and the presentation of initiatives to strengthen Panama’s pre-eminence in all segments of the maritime industry.

It is a specialized university, created on December 1, 2005 under Law No 40, which was amended in 2012, by Law 81, which governs its […]

FCC wins contract to build storage terminal

FCC gana el contrato para construir la terminal

The consortium FCC and Felguera IHI have won the contract to construct the Vopak oil storage terminal in Bahía las Minas (province of Colón), on the Panamanian Atlantic coast.

The contract was awarded by Royal Vopak, one of the world’s leading providers of independent tank storage for the oil and chemical industry.

The new terminal will be located next to the Chevron terminal of 509,000 mbc (thousands of barrels of oil) in Panama. It will […]