Port of Panama City seeks trade zone addition
The Port of Panama City has applied to the U.S. Department of Commerce's Foreign Trade Zones Board to grant subzone status within Panama City's Foreign Trade Zone for Eastern Shipbuilding Group Inc.
The subzone would be created for shipbuilding and would include ESG's facilities at two Panama City sites: the Nelson Street Shipyard on 27 acres at 2200 Nelson St.; and the Allanton Shipyard, on 142 acres at 13300 Allanton Rd., some 15 miles from the other site.
The ESG facilities have 580 employees and are used for construction, fabrication and repair of commercial and military oceangoing vessels used in both domestic and international services.
Among other things, FTZ status would exempt ESG from Customs duty payments on foreign components used in exports activities.
Port of Panama City seeks trade zone addition
