Panama port project draws strong interest from potential operators

Nearly a dozen global terminal operators formally expressed interest in bidding on the construction and long-term concession of the new Port of Corozal, according to a statement from the Panama Canal Authority.    The Panama Canal Authority announced this week that 11 global port operators have formally expressed interest in bidding to build and operate the new Port of Corozal under a long-term concession.
   Located on a 297-acre site on the Pacific side of the Panama Canal, the transshipment terminal will be capable of handling more than 5 million TEUs when finished. It is another step in Panama’s effort to transform the country into a logistics hub for the Americas.
   “We are thrilled at the sizeable interest we have received so far,” Panama Canal Administrator Jorge L. Quijano said in a statement. “It further demonstrates the demand that exists for service on the Pacific Coast of Panama, a demand which will only grow with the opening of the expanded Canal in 2016.”
   According to the authority, the following terminal operators, several of whom are owned by container shipping lines, have shown interest in the concession: Terminal Investment Limited SA (Holland), EUROGATE Container Terminal Wilhelmshaven (Germany), Carrix, Inc. (operating as SSA Marine) and affiliates (USA), Hyundai Engineering & Construction Co. (Korea), APM Terminals (Holland), Ports America (USA), CMA-CGM Group (France), Evergreen International Corp. (Taiwan), China Shipping Ports Development Co. Ltd. and China Harbour Engineering Co. Ltd. (China), Hamburger Hafen und Logistik AG (Germany), and Panama Ports Company (China).
   The project will be built in two phases and include a 2,081-linear-meter dock, a container yard, offices and warehouses on land the canal authority owns.
   The first phase will include 1,350 linear meters of docks capable of accommodating three post-panamax containerships, and have a capacity to handle about 3 million TEUs. With a 6.3-meter-deep access canal and a depth of 18 meters along the dock, the new facility will eventually provide facilities to accommodate five post-panamax ships.
   Currently, terminals on the Pacific side of Panama are able to handle about 5 million TEUs, but demand for container handling is projected to grow to 6 million TEUs after the canal’s new locks open and increase to 8 million TEUs by 2020.