newsbrief

Week in Review October 18

FULL SPEED

The Advisory Board of the Panama Canal, which renders its services ad honorem, recommended the overnight transit of neopanamax ships to generate more income for the country. The measures that were adopted for safety before the opening of the new locks are restrictions that must be reviewed, and removed to generate more income, said the administrator, Jorge Quijano.

CARGO RULES

Panama has never had a legal framework to regulate land cargo transport in […]

Week in Review May 16

ZLC RISING

Revenues of the Colon Free Zone (ZLC) for 2018 could improve slightly, while the site recovers from a commercial crisis that resulted in a tax and tariff reduction for its users.

CANAL EXCEEDS

The expansion of the Panama Canal generates good results. Since its inauguration, from June 26, 2016, to April 30 this year, toll revenues exceed $528.6 million. Over 1,000 neo-panamax ships (an average of 5.9 ships per day) have transited the […]

Week in Review January 24

TOUCHÉ

The Panamanian government announced that it suspended the purchase of two vessels from the Colombian Navy for about $30 million because of a pending bilateral tariff dispute that was decided in favor of Panama by the World Trade Organization (WTO). The purchase of the vessels, agreed last October, “was suspended until we can resolve the trade dispute,” said the Panamanian Minister of Commerce and Industry, Augusto Arosemena, during the presentation of his management report […]

Week in Review January 12

FINGERED

From Switzerland the bribes were paid in Panama. Investigations in Switzerland confirm the payment of bribes during the government of Ricardo Martinelli Berrocal. Without revealing even the names of the Panamanians who received these bribes from Odebrecht – the largest contractor of the Panamanian State – Switzerland confirmed the existence of bank accounts that would have reached more than $20 million in illegal payments.

CONTRACT CUT

The government of Juan Carlos Varela announced that […]

Week in Review July 11

CLIMBING LADDER

Panama climbed five positions in the Logistics Performance Index ranking compiled by the World Bank every two years. The country jumped from 45th place in 2014 to 40th this year, as the first in Latin America, ahead of Chile (46) Mexico (54) and Brazil (55). It is also the fifth country in the world in a sub-classification of territories with medium-high income, behind South Africa (20), China (27), Malaysia (32) and Turkey (34).

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Week in Review – Vol. 34 No. 9

National newsbriefs

CANAL EXPANSION’S NEWEST MILESTONE

The new locks on the Pacific side of the Panama Canal, in the area of Cocolí, began to flood “successfully,” said the Panama Canal Authority (ACP) and the contractor responsible for the work. Unlike the locks on the Atlantic side, which began to flood by gravity a fortnight ago, the Pacific is filled with electric pumps and diesel pumps, said the CEO of Grupo Unidos por el Canal (GUPC), […]