The Panama Canal celebrated the opening of its new locks on June the 26th, marking the culmination of the nearly decade-long, $5.4-billion “Panamax” expansion. The project’s inauguration signaled the beginning of “a new era in global trade,” proclaimed a headline in the LA Times. A crowd of 30,000 showed up to witness the Chinese flagbearer […]
This week the mega vessel MOL Majesty arrived in the expanded PortMiami docks after transiting the Panama Canal. To appreciate the size of this vessel, think 3 football fields in length and almost 150 feet in width. Another milestone agreement was reached as Panama Canal Administrator and CEO Jorge L. Quijano and PortMiami Director Juan […]
Panama’s government agreed to suspend the highly contested Barro Blanco hydroelectric dam Thursday after meeting with Indigenous leaders who have mobilized against the project over concerns that their rights have been violated and their land, culture and livelihoods are threatened. The agreement gives some hope to the 170,000 members of the Ngabe Bugle community who […]
David Brancaccio, Katie Long, and Justin Ho report for MarketPlace on the reality of bank accounts offshore companies and and money management here in Panama vs the perception of Panama being a haven for dirty cash. Panama has just opened a new, wider canal, but less cause for celebration is another feature of the Panama […]
The Panama Maritime Authority has announced a new tender for the concession of the design, construction and operation of a multipurpose terminal in the port of Aguadulce. A year after the first attempt, the Maritime Port Authority has once again called on companies interested in the concession to design, build and operate a multipurpose terminal […]
In order to meet growing demand 70 new carriages will be purchased which will take the current total from 20 to 25 trains of 5 carriages each. From a statement issued by the Panama Metro Secretariat: Every day of the year an average of 270 thousand passengers use the Metro facilities. Statistics show a low number […]
The recent expansion of the Panama Canal — which vastly reduces the time needed for U.S. shipments of liquefied petroleum gas to reach Japan — is expected to accelerate Japan’s efforts to wean itself off its reliance on Middle Eastern LPG for a more diversified, stable supply. On June 27, when the expanded canal went […]
Sharemoney, the international online money transfer service of Omnex Group, has announced the expansion of services to Panama. With over 25 years of experience transferring money from the United States to countries all over the world, including Vietnam, Chile, Mexico, and many more, this expansion is in line with Sharemoney’s mission to help people who […]
The Panama Canal has been a central link in the global supply chain for more than a century and, as of this year, the expanded waterway will double the amount of cargo it is able to handle, improving the efficiency, reliability and ease of international trade. To celebrate the expansion, the Panama Canal Authority (PCA) […]
Tender: Social Housing for $72 million The Ministry of Housing, and Land Ordinance in Panama is putting out to tender the construction of 4,000 affordable housing units in the region Ngoble Bugle. Panama Government Purchase 2016-0-14-0-12-LV-010 372: “Supply of materials, labor, equipment and management for construction of one thousand (1,000) social housing units under the […]