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A Container Port in Corozal

The Deputy Administrator of the Panama Canal Authority (ACP in Spanish) has announced a plan to create a concession for a container port in Corozal.

Friday, January 27, 2012

The project, announced by Jose Barrios, Deputy Administrator of the ACP, is based on Panama’s advantages as a a focal point for international maritime routes, fueled by the ongoing expansion of the Canal.

Corozal is very close to the port of Balboa, currently operated by Panama Ports Company.

According to an article in Prensa.com the investment needed to develop the project in Corozal is around one billion dollars.

Key entities

Panama Canal Authority José Barrios

Countries

Panama

Insight

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Manzanillo International Terminal Expansion

December 2011

A $200 million investment has been announced to dredge the access channel, develop a new turning basin, three Panamax docks, more areas for containers and nine gantry cranes.

A press release from the Presidency of the Republic of Panama reads:

The U.S. firm SSA Marine, through its subsidiary Manzanillo International Terminal in Panama, has announced plans to invest more than 200 million dollars in Colon over the next few years in order to expand the range of port services offered by this prestigious company to the shipping line companies.

Tender for New Port in Panama

September 2011

The third terminal port on the Pacific is to be built in an area of 112 hectares. Companies such as APL from Singapore, Cosco from China and Evergreen from Taiwan have been invited to participate.

The new terminal on the Pacific side of the Panama Canal will compete with the ports of Balboa and the port of Singapore.

Project for Container Port in Costa Rica

December 2010

The National Concessions Council began the process of studying the financial proposal made by APM Terminals.

APM Terminals was the only company to bid for construction and operation of a container port in Moin.

"The National Concession Council has until December 23 to decide whether to accept the proposal and grant concession to the Danish company or declare the process void and prepare a new process," reports Elfinancierocr.com.

More Services in Isla Margarita Free Zone

April 2012

The new container terminal will boost the development of value added services for the maritime industry, such as maintenance of Post Panamax ships.

The construction of a Container Terminal with three wharves at Isla Margarita Free Trade Zone (Colon Province) will attract value-added services such as maintenance of and Post Panamax and Super Panamax ships, said the Vice Minister of Foreign Trade, José Pacheco Tejeira.

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