PSA announces new terminal in Panama

PSA announces new terminal in Panama PSA International said it would build and operate a container terminal at the Pacific entrance of the Panama Canal at the U.S. Navy's former Rodman base.
   The first phase would involve construction of a container and roll-on/roll-off berth able to handle about 450,000 TEU of containers per year. The berth’s 14-meter water depth would allow it to handle post-Panamax ships.
   Eddie Teh, chief executive officer, said the terminal in Rodman would be PSA’s first port investment in the Americas.
   “Both Panama and Singapore are located at the major crossroads of shipping ' the Panama Canal and the Malacca Straits represent the two most important and strategic waterways in the world,” he said. “Both nations have major roles to play and contribute towards the facilitation of world trade. Our ports are important transshipment hubs and development of our maritime infrastructure is paramount to both our economies and to world trade.”
   He said the company would prepare the terminal for commercial operations over the next 18 months to two years.
   PSA’s local partner for this port investment is Parque Industrial Maritime S.A. (PIMPSA).