February

Guatemala and Mexico freight train restored

El 23 de diciembre comenzaron de manera formal los trabajos de rehabilitación de la vía férrea que unirá México con Guatemala y fomentará el intercambio comercial

Authorities of the Ferrocarriles de Guatemala (FEGUA) reported that on December 23 the rehabilitation began of the railway line linking Guatemala with Mexico to promote trade betwen the two countries.

The freight service has been inactive for a decade.

Cargo movements will take place between Tecún Uman City, in the Guatemalan department of San Marcos and Ciudad Hidalgo, Chiapas, in Mexico.

The project will be implemented in three phases: the first, the railway line linking […]

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 […]

Profitability of container shipping could decline in 2016

Más barcos y menos contenedores.

The continued decline in freight rates caused by the lack of measures to reduce capacity of ships could accelerate the decline in industry profits of container shipping companies in 2016, states the latest version of Container Forecast Report of the maritime consultant, Drewry.

It is anticipated that the decline in global container freight rates reached around 9% in 2015 and Drewry estimates that the profits of the shipping lines will suffer steeper losses in 2016, […]

The US Maritime Administration visits its Panamanian counterpart

Jorge Barakat recibe a miembros de la delegación de Estados Unidos.

The Executive Director of the US Maritime Administration, Joel Szabat, accompanied by a delegation, visited the Panama Maritime Authority (AMP).

He held a meeting with the administrator of the AMP, Jorge Barakat Pitty, and part of his management team.

Barakat Pitty and the US officials discussed some of the changes that are taking place to increase security in maritime matters, such as the process of implementing new systems to increase security; in the issuing of […]

Private sector aiming at technical careers

Sector privado apunta a carreras técnicas

The newly-elected president of CoSPAE, Captain Orlando Allard, considers it necessary to encourage young people to take up “practical” careers.

Logistics and technical careers are the professions of tomorrow, considers Captain Allard, the new president of CoSPAE (Private Sector Council for Educational Assistance) for the period 2016.

The representative of the Panama Chamber of Shipping within the Council urges youth to be prepared for such activities, especially when in the coming months, operation of the […]

Mega ships: boom or bust?

Mega Barcos

Ship breakers are watching with much interest the evolvement of mega ships – not in admiration, but as a future source of metal recycling.

If we’re to believe the big container lines, who justify ever-larger ships as the remedy for their financial woes, why are so many of them still losing money?

In the size race, Maersk Line led the pack with its Triple-E vessels of 18,000 twenty-foot equivalent units (TEUs). But nearly all of […]

PSA reports 64.10 million TEUs for 2015

PSA Terminal in Rodman.

PSA International Pte Ltd (PSA) handled 64.10 million twenty-foot equivalent units (TEUs) of containers at its port projects around the world for the year ending 31 December 2015. The Group’s volume decreased by 2.0% over 2014, with flagship PSA Singapore Terminals contributing 30.62 million TEUs (-8.7%) and PSA terminals outside Singapore handling 33.48 million TEUs (+5.0%).

“2015 was generally a tough year with weak trade growth reflecting unsteady global economic conditions.

“Trade in the second […]