Week in Review

Week in Review – Vol. 33 No.40

National newsbriefs

LOOKING AHEAD

As the Panama Canal celebrates 100 years since it began operations, it has set its sights on new businesses so that in the future it will have new revenue and raise the attractiveness of the maritime route through Panama. The administrator of the waterway, Jorge Luis Quijano, said that the entity plans to grant concessions for two ports on the Pacific access channel and contract [...]

Week in Review – Vol. 33 No.38

National newsbriefs

BOTTOMING OUT

Problems of the Colón Free Zone (CFZ) have bottomed. This was revealed by the statistics from the government institution that, for the second consecutive year, is in the red in the first six months. The commercial activity in the free zone has fallen 15% in the first half of the year. Trade recorded $11,270 million, representing $1,964 million less than in the same period last year. On the other hand, re-exports [...]

Week in Review – Vol. 33#37

PANAMA CANAL WINS

After learning of the route of the canal to be built in Nicaragua, the administrator of the Panama Canal, Jorge Quijano, said he cannot give a conclusive statement on this project, because they do not have enough information to come to any conclusion, but they are now evaluating the route and will make their best engineering estimates and cost analysis. He also assured that the Panama Canal route offers competitive advantages over [...]

National newsbriefs

Week in Review

VERTIKAL CONTRACT

President-elect Juan Carlos Varela said that the approval of a grant of 4.5 hectares is by “business people close to the president (Ricardo Martinelli)” for the distribution of jet fuel for aircraft at the Tocumen International Airport. Varela referred to the agreement that authorizes a direct contract for 20 years for the company Vertikal Corporation Inc., which the Cabinet approved just 25 days before the current government term [...]

Week in Review – Vol. 33 No.33

EXPANSION RESUMES

The strike by members of the Union of Construction Workers and Similar (Suntracs) came to an end on May 7. Both representatives of Suntracs and the Panamanian Chamber of Construction (CAPAC) reached a compromise on the collective agreement that they had been negotiating for several months. In the agreement there is a wage adjustment over four years of 35.87% that was achieved based on 9% per annum.

MORE CLAIMS

The Panama Canal Authority [...]

Week in Review – Vol. 33 No. 32

MORE CONTAINERS

The Panamanian port system took a surge during the first half of the year registering a growth of 6.9% compared with the same period last year. In the first three months, the ports of Balboa, Cristobal, PSA Singapore (Rodman), Manzanillo International Terminal and Colon Container Terminal, moved 1,643,000 TEUs (containers 20 feet long). Compared to the same period last year there were 105,745 more containers.

SHIP COMPENSATED

The Law of the Sea Tribunal, [...]

Week in Review – Vol. 33 No.31

NEW PORT PLAN

On April 8, the Cabinet authorized the direct sale of 126 hectares on Remo Largo Island in the district of Cristobal, Colon province. The sale will be “through exceptional procedure”, i.e., directly, so that the company SMC Barcelona SA, can construct, develop, manage and operate a multipurpose container handling port and other complementary activities.

WATER EVAPORATES

This summer has been one of the longest in recent years, with Alajuela Lake and Madden [...]