More than 105 neo-panamax ships have transited the expanded Canal since its inauguration on June 26, the Panama Canal Administrator, Jorge Quijano said. These transits have generated between $50 and $55 million, but he explained that “not everything is new income, since a large part of panamax vessels have switched to neo-panamax”. He noted that 13% of the transits are new segments such as liquefied natural gas.
The Budget Commission of […]
After Panama won the case against Colombia in the World Trade Organization (WTO) over high tariffs on imported clothing and footwear, the Colombian government announced that it will seek new measures to prevent the entry of “smuggled goods” from any part of the world. According to the Minister of Foreign Trade of Colombia, María Claudia Lacouture, the State will insist on this type of protection. “We have the confidence, that together with Panama, we […]
The authorities of Panama and Costa Rica signed an agreement, which must be ratified by the parliaments of each country to streamline procedures, services and the movement of cargo through Customs on their border crossings. The National Director of Customs of Panama, Jose Gomez, said that the agreement sets a deadline of 60 days to be submitted to the parliaments of each country for ratification. The implementation of the Integrated Control System covers […]
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).
A fourth set of locks on the Panama Canal could be built “If it becomes necessary” and a group of experts will start a feasibility study from October 1. However, there is still no decision, the administrator, Jorge Quijano told the news agency Efe.
Between 2007 and 2015, during the expansion work of the Canal, 2,250 pieces of archaeological value were found, dating from different periods of the history of Panama: […]
PROTECT FREE ZONE
The Logistics Business Council (COEL) and the Colón Free Zone Users’ Association (AU) raised the need to review comprehensively the strategy to protect interests of this commercial emporium. “We feel the urgency to activate the consultancy hired by the government and we hope to analyze the constraints that exist in the region, beyond the measures applied by Colombia since 2006 and the situation of Venezuela,” said Marco Tellez, president of the AU.
The China Landbridge Group made its first investment in Panama on large scale by a Chinese company with the construction and operation of a new port on Margarita Island, Colón. The first terminal, in addition to being able to handle neopanamax ships, will feature a high-quality logistics park to meet the significant demand that will be generated by the Canal expansion.
The CEC (China State Construction Engineering Corporation) consortium won 563 […]