national newsbrief

Week in Review December 27

TOP SPOT

In 2018 Panama will have the greatest economic growth in Latin America and the Caribbean, it was announced the Economic Commission for Latin America and the Caribbean (ECLAC) from Santiago, Chile. Cepal estimates that the country will grow 5.5%; while 2017 will close with 5.3%, when they projected 5.6%.

STRONG HAND

The Panama Canal Authority (ACP) will contribute $1,650 million to the National Treasury, which represents $50 million more than what was budgeted. […]

Week in Review – Vol. 35 No. 6

COROZAL MOVES

Four major port operators from Denmark, France and Singapore were prequalified in the bidding process for the design, construction and operation of the container transshipment port of Corozal, to be built on the Pacific side of the Panama Canal with a calculated investment of at least $500 million. The four port operators are APM Terminals (Denmark), Terminal Link (France), PSA International (Singapore) and Terminal Investment Limited (the Netherlands), said the Panama Canal Authority […]

Week in Review – Vol. 35 No. 2

EXPECTANCY

The Panama Canal estimates that from 2020, with the new locks, “approximately 25 million metric tons of liquefied natural gas (LNG) will transit every year,” said its manager, Jorge Luis Quijano. “The discovery of large gas reserves in the area of the Gulf of Mexico, in the United States, in recent years, has opened the opportunity in a matter of months for the first exports of liquefied natural gas, and given the expansion of […]

Week in Review – Vol. 34 No. 21

National newsbriefs

DATE LOOMING

On January 15, 2016 the future date of delivery of the Canal expansion will be defined. That day it will be known if the new locks will be completed by April, as planned in the last calculation, or if the work will be delayed due to leaks that were detected last August. According to the timetable presented by Grupo Unidos por el Canal (GUPC) to the Panama Canal Authority […]

Week in Review – Vol. 34 No. 20

STRIKE HITS CANAL

The 24 hours’ strike on the construction project of the third set of locks on the part of the workers, left a loss estimated at $1 million, the Panama Canal Authority (ACP) said. “This strike affects us greatly, not only the Canal, but the country,” said the institution, referring to the strike endorsed by the Single National Union of Construction Workers and Similar (SUNTRACS), to which workers who are building the locks […]

Week in Review – Vol. 34 No. 15

LEAKING INFO

After leaks in one of the chambers of the new gate of the expansion project of the Panama Canal were found, engineers of GUPC, say that its designer, Montgomery Watson Harza, “is still assessing the cause of the problem and has not yet submitted a report to the Panama Canal Authority”. At least, this is the information that was released by the Panama Canal administrator, Jorge Luis Quijano.

INSIDE TRADING

“The Panama Maritime […]

Week in Review – Vol. 34#11

DRY DANGER

The “severe” El Niño effect on rainfall has diminished the catchment of the Panama Canal watershed and is causing lower levels in the Gatun reservoir, the main source of water for the operation of the waterway and water supply for human consumption. The phenomenon, says the Panama Canal Authority (ACP), could cause a restriction on the draft of ships, if insufficient rains continue in the area.

HUB TRAINING

The Panama government seeks to […]