Wednesday, December 30, 2015

Uber Top 10 in Panama City in 2015

Panama Business News. Uber Top 10 in Panama City in 2015

1. During 2015 the areas where Uber arrived in Panama were Paitilla, Casco Viejo, Banking Area, Costa del Este and San Francisco

2. Areas were more Uber users were dropped: Paitilla, Banking Area, Costa del Este, San Francisco and Parque Lefevre

3. Uber partners drivers  did take users  everywhere,  and reached as far as Chitre, Penonome, San Blas, Bayano Dam and Portobelo,

4 .The longest journey lasted 668 mins

5. What did they do all this time ?, Get to know Panama in round trips tours to the Atlantic Coast, visiting the Colon Free Zone and the Visitor Center of Gatun Locks

6. Uber carried out man fun promotions to their users, the one twhich received more #UberLOVE, was the breathalyzers that were put together with Ron Abuelo, to promote the importance of not to combine alcohol drinks and driving in this holiday season.

7. Besides,  the Ubers were full of good stories, like that one of one of our members who arrived to pick up a passenger outside a nightclub in town, and two people rode the ride: a girl and a boy. As fate had already been pre-entered the app, the driver just went to their destiny. After a few weeks the driver again matched the same passenger,  and the user told him that she and the boy had met in the Uber ride,  and now are "dating".

8. Our users are so amazing, for example the couple who met in the Uber , invited the driver to dinner as a way of saying “thanks”.

9. The most traveled street in Panama for Ubers was “Via EspaƱa” (Spain Avenue).

10. Finally, with the number of kilometers traveled in Uber, they could have reached the moon several times!

About Uber Technologies

Uber is a technology company that is transforming the way the world moves to connected through an application, drivers and users; creating new transportation alternatives; opening up business opportunities and bringing development to the cities where it operates. It is renowned for its service and user experience. Currently it has a presence in more than 350 cities in 68 countries. Uber was founded in San Francisco, California, in 2009 by Travis Kalanick and Garrett Camp.

Tuesday, December 22, 2015

Fuddruckers Debuts Second Fast Casual Restaurant Location In Panama

Panama Business News. Fuddruckers Debuts Second Fast Casual Restaurant Location In Panama with Franchise Partner Isthmus Food Service, S. A. Fuddruckers, an iconic, Texas-born fast casual brand, debuted its second Panama location with franchisee Isthmus Food Service, S. A. earlier this week.  The 4,500-square-foot restaurant with seating for 126 is ideally situated at Panama City's Street Mall shopping center on Via Israel in the San Francisco/Punta Pacifica area.  It joins Panama City's popular Metromall site, which opened in late 2014.  The partnership plan with Isthmus Food Service, S. A. calls for the development of up to eight more Fuddruckers restaurants.  Six are targeted for Panama, while the remaining two will be located in Aruba.

According to Peter Tropoli, Chief Operating Officer, "We're excited to be expanding in Panama with our partners at Isthmus Food Service, S. A., who have revealed another prime location for our always fresh and never frozen 100% USDA premium-cut beef."

Fuddruckers' hallmarks include delicious, hand breaded onion rings and sought after, sesame-topped buns that are baked from scratch on-site throughout the day to achieve the perfect combination of crisp crust and melt-in-your-mouth texture.

While the new sites in Aruba and Panama will share Fuddruckers' signature look, legendary Build Your Own produce bar and many menu items with restaurants in the U.S., some dishes, ingredients and preparations will be introduced in each locale that reinforce a sense of place.  In Panama City, highlighted specialties include corvine, a prized saltwater fish.

About Luby's, Inc.

Luby's, Inc. (NYSE: LUB) operates restaurants under the brands Luby's Cafeteria, Fuddruckers and Cheeseburger in Paradise and provides food service management through its Luby's Culinary Services division.  The company-operated restaurants include 94 Luby's Cafeterias, 76 Fuddruckers restaurants, eight Cheeseburger in Paradise full service restaurants and bars and one Bob Luby's Seafood Grill.  Its Luby's Cafeterias are located primarily in Texas.  In addition to the company-operated Fuddruckers locations, Luby's is the franchisor for 111 Fuddruckers franchise locations across the United States (including Puerto Rico), Canada, Mexico, Panama, Italy, Poland, Chile, Colombia and the Dominican Republic.  Luby's Culinary Services provides food service management to 23 sites consisting of healthcare, higher education and corporate dining locations.

Krispy Kreme Doughnuts’ Classic Sweet Treats Coming to Panama

Panama Business News. Krispy Kreme Doughnuts’ Classic Sweet Treats Coming to Panama. Krispy Kreme Doughnuts, Inc. (NYSE:KKD) today announced it has signed a development agreement with Barcenas Group International Inc., to bring 16 Krispy Kreme Doughnuts shops to Panama over the next five years.

“This agreement marks our company’s second partner in Central America and the continued growth of the Krispy Kreme Doughnuts brand in Latin America,” said Dan Beem, Krispy Kreme Doughnuts’ Senior Vice President and President – International. “Our partners in Panama, Barcenas Group International Inc., understand the demands of the Panamanian customer and have what it takes to create the experience enjoyed in our shops around the world. We are excited to be working with them in this new market.”

Rafael Barcenas, President of Barcenas Group International Inc., said the people of Panama will love Krispy Kreme Doughnuts sweet treats and premium coffee.

“I am excited to help bring the classic and beloved Krispy Kreme Doughnuts brand to Panama,” said Barcenas. “The Panamanian people will have a new favorite once they try the Krispy Kreme Doughnuts products loved all over the world.”

About Krispy Kreme Doughnuts, Inc.

Krispy Kreme Doughnuts, Inc., is a global retailer of premium-quality sweet treats, including its signature Original Glazed® doughnut. Headquartered in Winston-Salem, N.C., the Company has offered the highest-quality doughnuts and great-tasting coffee since it was founded in 1937. Krispy Kreme Doughnuts is proud of its Fundraising program, which for decades has helped non-profit organizations raise millions of dollars in needed funds. The Company has more than 1,000 retail shops in 25 countries. Connect with Krispy Kreme Doughnuts at, or on one its many social media channels, including, and

Monday, December 21, 2015

Evergreen unveils Panama terminal expansion

Panama Business News. Evergreen unveils Panama terminal expansion. Evergreen Group’s Colon Container Terminal in Panama has completed the third phase of an expansion that will allow the terminal to handle the largest ships that will transit the Panama Canal’s soon-to-open larger locks.

The terminal expansion added a fourth berth that, combined with the adjacent Berth 3, will provide an overall quay length of more than 2,100 feet. The new berth has a water depth of 54 feet and three gantry cranes that will span 23 rows of containers.

The expansion increases CCT’s annual capacity to 2 million 20-foot-equivalent units from the previous 1.5 million TEUs. An additional expansion of Berth 3 will increase annual capacity to 2.4 million TEUs by early 2017, and allow Berths 3 and 4 to simultaneously handle two 12,000 to 14,000-TEU ships.

The new Berth 4 is scheduled to begin operation in the first quarter of 2016. The completion was marked in a ceremony Thursday attended by officials including Panama President Juan Carlos Varela and Panama Maritime Authority Administrator Jorge Barakat Pitty.

The Panama Canal Authority is targeting April for the opening of new locks that will accommodate vessels of 13,000-14,000 TEUs, nearly triple the maximum capacity of container ships transiting the canal’s existing century-old locks.

CCT terminal, on the canal’s Atlantic side, is one of several terminals in Panama, the Caribbean and South America that are bidding for transshipment traffic from the expanded canal. On the canal’s Pacific side, 11 potential bidders have expressed interest in a planned Corozal terminal that would have annual capacity of 5.3 million TEUs.

Opinion is divided on how the canal expansion will affect transshipment volume, and whether it will keep pace with added terminal capacity. Some analysts have forecast double-digit increases in transshipment at Panama, but port analyst Asaf Ashar has said carriers may use the expanded canal to increase direct services without transshipment, or transshipment through other Latin American and Caribbean ports.

Thursday, December 17, 2015

Martano has secured the supply of 350MW of electricity in Panama

Panama, PanamaA Chinese-backed company called Martano has secured the supply of 350MW of electricity in Panama’s power system for 15 years, starting in 2019. The move would mean the supply of LNG into Panama.

Panama’s Empresa de Transmision Electrica (Etesa) announced the award on 11 December, based on an offer price of $0.08495/KWh, which was 30% lower than what was offered in a previous tender. During a tender that was held in February 2015, 14 proposals were received at the time, and for the first time, offers came in under $0.10/KWh.

Etesa’s CEO said that Martano has demonstrated financial resources and the ability to supply natural gas using vessels across the Pacific. Representatives from Martano could not be reached for comment. It was unclear whether Martano held any existing physical assets in Panama or China.

In a filing with the Panamanian government, Martano was authorized to develop its Gas-to-Power Panama project for a 325MW gas-fired power plant in the village of Puerto Pilon, in the district and province of Colon. On 26 October, Martano modified the provisional license to an installed capacity of 400MW. The facility plans on using four gas turbines to be manufactured by Shanghai Electric Corporation.

Other providers of construction and supplies for the project include Fujian Yongfu Power Engineering, which issued a letter of intent, an agreement with Panama Colon Container port and a letter of intent for operating and maintenance services by a company called CHD Power Plant Operation Company. The project will also include an updated fuel strategy and a feasibility study on installing an LNG import and storage terminal.

US-based power generator AES has proposed its own LNG import terminal to supply 350MW of new capacity through a bid the generator won separately. That power purchase agreement (PPA) was for a 10-year duration. A spokesperson for AES said on 16 December that the PPA was expected to be signed before the end of 2015.

It was unclear whether Martano would pursue its own import project separately or whether it would align with AES’ existing plans.

Another plan to import LNG into Panama was eyed for Telfers Island on the Caribbean side of the Panama Canal. Those plans, led by a company called LNG Group Panama, which signed a Heads of Agreement with a subsidiary of Switzerland-based Gunvor for proposed supply from the US Magnolia LNG project in Louisiana, has since been shelved. 

Wednesday, December 16, 2015

Copa Holdings Announces Monthly Traffic Statistics For November 2015.

Panama,Panama.Copa Holdings, S.A. (NYSE: CPA), today released preliminary passenger traffic statistics for November 2015:

For the month of November 2015, Copa Holdings' system-wide passenger traffic (RPM) increased 2.6% year over year, while capacity increased 2.6%. As a result, system load factor for November 2015 was 74.0%, a similar load factor when compared to November 2014.

Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to 73 destinations in 31 countries in North, Central and South America and the Caribbean with one of the youngest and most modern fleets in the industry, consisting of 102 aircraft: 77 Boeing 737NG aircraft and 25 EMBRAER-190s. For more information visit

Thursday, December 10, 2015

Aristides Chiriatti is the new president of the American Chamber of Commerce of Panama (PANAMCHAM)

Panama, Panama. Aristides Chiriatti, Chief Operating Officer of Import & Export Colon, was elected President of AmCham 2016, in the Board meeting held on Tuesday, December 2nd. Aristides has been two years in the Board and in 2015 served as the Secretary of the Board.

They accompanying him on the Executive Committee were elected: Romy Aued, Vice President; Barraza Amanda Wong, Treasurer; and Dacil Acevedo, Secretary. Elected officers take office in January.

Prior to his work in Colon Import and Export, Aristides work in leadership positions at Chevron in Latin America for the past 16 years. He has years of experience in Supply Chain, Engineering and Sales. Aristides is a graduate architect and has an MBA in International Business.

Tuesday, December 8, 2015

Emirates Airlines bags 'Best International Airline' award. Will Fly to Panama in February 2016

Panama, Panama. Emirates Airlines, a global connector of people, places and economies, was recently honoured with the award for favorite international airline, 2015 category at the fifth 'Conde Nast Traveller

Presented by the magazine's India edition, the awards are globally renowned and considered among the most prestigious in the industry. The fifth edition of the award ceremony this year was held in New Delhi, to recognize and honour the best in the travel, tourism and hospitality industry.

The selection criterion is based on votes from readers of the magazine and their personal travel experiences. Readers voted for their favorite destinations, airlines, hotels, spas, airports and more across 27 categories.

"At Emirates, we are always in pursuit of excellence when it comes to delivering the best experience possible both on-ground and on-board to our customers," said Essa Sulaiman Ahmad, VP, India and Nepal, Emirates Airline.

He also said that we will continue to invest heavily in developing the most innovative and high quality products on-board, not to mention our cosmopolitan cabin crew who put in every effort to deliver exceptional service. We are honoured to be recognized for our efforts by 'Conde Nast Traveller India's discerning readers'.

This prestigious recognition is testament to Emirates' on-going commitment to excellence and innovation across its different areas of business. During the last year, Emirates has continued to deliver a high level of service across its ground and flight operations, even while introducing new routes and expanding its fleet.

Recently, the airline started flights to BaliMultanOrlandoMashhad and Bologna, and plans to launch services to Panama City beginning February 2016. The new service will be the longest non-stop flight in the world, i.e. 17 hours and 35 minutes in the westbound direction.

Emirates has been inspiring travel and facilitating trade between India and the world since 1985. With 183 flights a week to nine Indian destinations, Emirates continues to be on the first spot amongst customers.

Grupo Pesqueros SA is now MAXINDUSTRIES

Panama,Panama.  Grupo Pesqueros SA has changed its corporate brand identity and is now called MAXINDUSTRIES S.A. The new branding is a strategy to better meet the needs of customers and to widen the markets which it serves.

Grupo Pesqueros, S.A., which has served for more than 33 years the fishing and construction sector in Panama, Central and South America, is renewing its corporate image looking to differentiate itself and keep its leadership with the new name MAXINDUSTRIAS, S.A.

The change in corporate image is a symbol of a new phase and coincides with a series of projects, many of them focusing on facilitating the interaction with clients. Fernando Lara, MAXINDUSTRIES S.A. Commercial Director, said: “this company has experienced a rapid transformation and this change will help us refresh our brand at a time where we have made very positive changes to our business. The corporate identity represents what we are as a company, serving the construction and fishing sectors and other related activities in the region.”
Lara added that “with this change, the company is adapting to the needs of the markets and, at the same time, allows it to achieve objectives and an entrepreneurial mission.”

MAXINDUSTRIES S.A. hopes that the new identity will be recognized by clients and strategic business partners, who will look at the company as friendly and approachable, but at the same time, innovative and capable of facing successfully present and future challenges.

Sunday, December 6, 2015

Eric Trump strengthens his commitment to Panama

Panama, Panama. Eric Trump, Executive Vice President of Development and Acquisitions for The Trump Organization, responsible for all new project acquisition, development and construction around the world, was in Panama to strengthen and support the plans to improve the property in the near future in both of its areas hotel and real estate.

"Each time more multinational companies establish their headquarters in Panama for being one of the strongest and most stable countries in the region, this proved to be an indication of the success that the property would have, more than an investment business, we like to believe that it is an investment that helps boost Panama's economy, tourism and image," said Eric Trump about how he perceives the business in the country. 

This property has four years in the Panamanian market, ranking as the number one luxury hotel in Panama, it has contributed to tourism as an hotel choice and it has become an icon and a touristic spot in the country for its design and infrastructure that manages to combine the autochthonous with the modernity and distinctive luxury Trump Hotel Collection is known for.

The success of this brand in the hospitality industry is due to its ability to adapt to every city in which it develops adopting the culture and the lifestyle, in addition to count with the best resource of all: his team of employees. Mr. Carlos Abaunza recently joined the Trump Ocean Club International Hotel & Tower Panama as Managing Director, and in these four months of leadership he has seen the infinite possibilities of growth and improvement of the hotel in the country.

"I've had the pleasure of leading a team of professionals committed to the chain of Trump Panama, focused on giving more than 100% to exceed the expectations of our guests. Panama has great potential, is a country that is steadily growing and we are pleased to know that our property has successfully manage to join the Panamanian Tourism helping make it one of the reasons why tourists choose to come to this country," Mr. Abaunza said about his experience at the Trump Ocean Club.

Panama has everything to welcome tourists from high level; it has infrastructure, it receives large number of flights from major cities in the world, it has great hotel options, culture, nature, evening activities, security and many other elements to be one of the best destinations for business and pleasure. For this and other reasons, it is a strategic town that has all the potential to belong to the portfolio of Trump Hotel Collection.

Panama welcomes Roberto Coin

Panama welcomes Roberto Coin. The Italian brand has signed an agreement with the renowned entrepreneur Carlos Sultan, to handle the distribution of the precious collections in the region. The renowned Italian brand Roberto Coin, which is leader in the jewellery world and strongly loved in the United States, is all set to enter Panama in year 2015. The Italian brand has signed an agreement with the renowned entrepreneur Carlos Sultan, President of Latin Jewelers Corp., a distributor of high-end jewelry and watches throughout South America, Central America and the Caribbean, who will handle the distribution of the precious collections in the region.

 Roberto Coin’s activity will be located in the futuristic Panama Diamond Exchange, the heart of the jewelry and diamond trade in Latin America, found in the exclusive Santa Maria Business district. As Roberto Coin says, "I have always loved Latin America and today I am happy to work here and bring beauty and joy with my jewels.”

The Italian brand is an icon in the jewellery industry, credited as author of many of the most appreciated trends of the last decades. The world considers Roberto Coin creations as precious symbols of elegance, characterized by a unique mix of imagination and aesthetic sensitivity.

Carlos Sultan elaborated further, "The identity of the Roberto Coin brand is absolutely unique, for it blends the very finest elements of Italian design and craftsmanship together with the brilliance and flair of the man himself. Each item reflects his eye for beauty, in the same way that a great work of art expresses the personality of the creator. It is a privilege to be able to work with him, and to be the channel through which Roberto Coin jewelry is delivered to the fast-growing markets of Latin America."

APG appointed as GSA for Air Europa in Panama

APG appointed as GSA for Air Europa in Panama. Air Europa is the airline of Globalia, the largest Spanish tourist group with an annual turnover of over 3,500 million dollars, founded in 1986 with its main base at Madrid Airport and bases in the airports of Barcelona and Majorca.

APG announced a new GSA partnership with Air Europa (UX) effective from the 01st September 2015 in addition to its current GSA agreement in Cyprus.

APG has been appointed as the General Sales Agent of Air Europa in Panama and will be providing full sales and marketing services as well as call center facilities.

Air Europa is the airline of Globalia, the largest Spanish tourist group with an annual turnover of over 3,500 million dollars, founded in 1986 with its main base at Madrid Airport and bases in the airports of Barcelona and Majorca.

The SkyTeam Alliance member currently has one of the youngest fleet in the world with an average age of 5 years. It is made up of 47 modern aircrafts (20 Boeing 737-800, 12 Airbus 330-200, 2 Airbus A300-300 ,11 Embraer 195, 1 Airbus 330-300 and 1 Boeing 787) and offers flights to over 49 destinations.

Friday, December 4, 2015

Windstar Cruises Launches Deckside Festival on the Panama Canal.

Panama, Panama. Windstar Cruises announced a new program for guests traveling on Costa Rica & Panama Canal itineraries. The Canal Celebration, a deckside festival, invites guests to experience the sights and sounds of the Panama Canal while enjoying amenities and activities that highlight the Panamanian culture.

Windstar guests can enjoy a cool and breezy nighttime passage through the Panama Canal, during which lights illuminate the inner workings of the waterway. The Canal Celebration takes place as the yacht traverses the 40-mile passage. As the ship approaches the first locks in the late afternoon, a speaker from the Panama Port Authority comes on board to introduce guests to the complex and ingenious lock system, a modern world wonder.

As the yacht navigates the passage, guests are invited to stroll along the deck and sip on local beverages, beers, and cocktails from a mobile drink cart while listening to local festive music from various regions around the country.

As evening falls, the deck is transformed with local decor as guests dine on a custom-made Panamanian menu, curated by Windstar’s Executive Chef Michael Sabourin. Upon completion of the passage, guests find in their stateroom a certification of The Order of the Ditch, a Navy tradition that recognizes “sailors” who have passed through the Panama Canal.

Windstar’s Costa Rica & Panama Canal itinerary stops in Drake Bay, Balboa, Puerto Jimenez, Quepos, and more. Itinerary highlights include stops near several national parks, including the notoriously isolated Corcovado National Park, an ecological gem that is home to Scarlet Macaws, howler monkeys and sloths; and Isla de Coiba, where Windstar Cruises holds the Island Experience Private Event, a unique event on Panama’s Isla de Coiba, a UNESCO World Heritage Site that offers guests a chance to view wildlife in their natural environment. Additionally, guests can enjoy beach and sport activities such as volleyball, snorkeling, and bocce ball, as well as a full beach barbecue.

Windstar Cruises recently announced TV personality and conservationist Jeff Corwin as Windstar’s first Private Event host of 2016. Corwin will host the Isla de Coiba: Island Experience Private Event on Windstar’s Costa Rica & Panama Canal itinerary on the March 5, 2016 voyage. Corwin shares his thoughts on the upcoming cruise here.

About Windstar Cruises

Windstar Cruises operates a fleet of small luxury cruise ships known for its intimate yacht style experience and unique voyages to the world’s best small ports and hidden harbors. Its three recently renovated sailing yachts carry just 148 to 310 guests and cruise to 50 nations, calling at 150 ports throughout Europe, the South Pacific, the Caribbean, and Central America. In May 2014, Star Pride, the first of three newly acquired power yachts, joined the fleet. In May 2015, the company launched Star Breeze and Star Legend. The power yachts, with a capacity of 212 guests each, double the size of Windstar’s fleet, making the company the market leader in small ship cruising with 300 or fewer passengers, with a total of 1,242 berths. Windstar Cruises is a part of Xanterra Parks & Resorts®, which is known for its “Legendary Hospitality with a Softer Footprint.” Xanterra’s entities include lodges, restaurants, tours and activities in national and state parks, as well as resorts, a cruise line, railway and tour companies.

For more information including rates and itineraries, contact a travel professional or call Windstar Cruises at 800.258.7245, or visit

Tuesday, December 1, 2015

8th Annual Telecoms Energy Efficiency Forum in Panama

Panama, Panama. Leverage Smart Network Technologies and Strategies to Optimize Energy Consumption. 3-4 Dec 2015.

The 8th edition brings together leading market players, primarily from the region, to exchange ideas, share experiences and develop strategies to ensure profitability in an ever-changing telecom landscape. As an invitation-only event taking place behind closed doors, the forum offers C-level executives from the Pan-American region, an intimate environment for a focused discussion of key new drivers to shape efficient and sustainable network landscape.
The one-to-one business meetings provide access to C-level executives of the largest corporate budgets in Pan-America – decision makers selecting solution providers for their network improvements. A thorough selection process ensures a qualified audience, which grants unparalleled business and networking opportunities in a luxurious and stimulating environment.

Reducing energy bills while expanding fixed and mobile networks
Ensuring sufficient energy supply to support growing telecom infrastructure
Securing investment for renewable energy solutions
Optimizing data centers
Implementing smart energy efficiency meters and control systems

Previous Participants
Algar Telecom , Antel , Appalachian Wireless , AT& T , Bell , Bluegrass Cellular , bmobile , BTC , CCT, CellStar , Cellular One , Choice Communications , Claro , CNT , C Spire Wireless , Cubacel , Digicel , Digitel GSM , Entel , ETB , Fullmovil , Infonet , Islandcom Wireless , Iusacell & Unefon , Kolbi , Lime , Mobilicity , Movil Exito , Movistar , MTS , Nextel Communications , nTelos , Oi , Open Mobile , Orange , RED , Rogers, SaskTel , Sercomtel , Setar NV, SouthernLINC , Sprint Corporation , Sunbeach , Telcel , Telesur , Telus, Tigo , TracFone Wireless , Tricom, Tuenti , Tuyo Movil , T-Mobile , US Cellular, Verizon Wireless, Videotron, Virgin Mobile, Viva, Vox

Marcus Evans specializes in the research and development of strategic events for senior business executives. From our international network of 63 offices, marcus evans produces over 1000 event days a year on strategic issues in corporate finance, telecommunications, technology, health, transportation, capital markets, human resources and business improvement.

Above all, Marcus Evans provides clients with business information and knowledge which enables them to sustain a valuable competitive advantage and makes a positive contribution to their success.

Tyler Kelch

455 N. Cityfront Plaza Dr.
9th Floor
Chicago, IL 60611

Telephone: 312-894-6310
Fax: 312-894-6304



Panama, Panama. A JV of Jan de Nul and Saipem is responsible for the PSA project.

Jan De Nul Group has confirmed that it has been awarded a contract for the quay wall and dredging for the expansion of Panama PSA’s terminal.

After six months of design and tendering process, the contract was awarded to Jan De Nul Group and Saipem.

The PSA terminal, on the western bank of the Panama Canal’s Pacific entrance, has a 450,000 TEU capacity and opened for business in 2010. It currently offers 330m of berthing served by three quay cranes and nine yard cranes.

The expansion was approved by Panama’s National Assembly earlier this year and is scheduled to be operational in the first half of 2017. It comprises the dredging and excavation of approximately 4 million m³ of material to a depth of 16.3m, as well as the construction of an 800m quay wall.

The dredging works will be executed by Jan De Nul Group. The quay wall extension was awarded to the JV Jan De Nul-Saipem. When fully operational, PSA Panama will be able to handle two mega ships simultaneously.

New container handling equipment will include eight new quay cranes for super-post-Panamax vessels as well as 12 rail mounted gantries. The contract will generate an estimated 1,000 jobs during the two years of construction, and at least 400 additional long term jobs for operation of the expanded terminal.