AMP Approves New Container Terminal

press release
Tuesday, May 08, 2012

Panama Maritime Authority Approves New Container Shipping Terminal; Panama Colón Container Port designed to complement newly expanded Panama Canal and rising cargo volumes in Panama.

The Panama Maritime Authority (AMP) has granted permits to a private development group for the construction and operation of a new container terminal to be built at the Atlantic entrance of the Panama Canal. Jones Lang LaSalle is acting as development advisor to the project consortium. With an estimated construction value exceeding $USD 600 million, the Panama Colón Container Port (PCCP) is expected to become one of the largest private maritime infrastructure projects in Panama, and the first terminal to be built on freehold land.

 
The Panama Canal is undergoing a  $USD 5.2 billion expansion to allow greater traffic flow and to accommodate the next generation of “Super Post-Panamax” vessels, named because they exceed the size limitations of the existing canal system.  However, numerous ports along the U.S. Eastern and Gulf coasts, South America and the Caribbean do not have the capacity to receive the larger ships.  PCCP is designed to address this, so that Super Post-Panamax and other vessels can transit via the new locks, and transfer their cargo at the new PCCP terminal to and from smaller container ships capable of serving the existing ports of call.
 

“Transshipment terminals will have a significant impact on the new Panama Canal era,” said John Carver, Head of Jones Lang LaSalle’s Ports Airports and Global Infrastructure (PAGI) group.   “Too many seaports do not currently, and may never, have the harbor depth required to take advantage of the trend towards Post and Super-Post Panamax vessels.  PCCP is the first terminal to be engineered specifically for the expanded Panama Canal and will provide a critical new link in the global supply chain, further enhancing Panama’s already strategic designation as one of the world’s primary global transshipment hubs.”
 

Set to break ground in summer 2012, the 4-berth terminal will be capable of handling container vessels up to 18,000 TEUs (twenty-foot equivalent units) and is designed to handle 2 million TEUs in initial throughput with future expansion capability thereafter and offers unique complementary warehousing and logistics facilities.  PCCP will complete in conjunction with the opening of the Panama Canal’s “Third Set of Locks” expansion project in late 2014.
 

Jones Lang LaSalle’s Project Development Services group will soon begin to administer the bid tender process for the initial dredging and related marine construction elements.  “We expect transshipment terminals such as PCCP to play an integral role in the long-term success of the Panama Canal,” said Ricardo Quijano, Panama`s Minister of Commerce and Industry.  “For such a large infrastructure project to be achievable by the private sector is a testament to Panama’s concerted efforts over many years to create a stable and transparent operating environment.” 


“As a global maritime hub, Panama will continue to make every effort to ensure that industry participants who locate here can enhance their strategic advantages and continue to prosper despite highly competitive global markets.  We applaud the efforts of Jones Lang LaSalle and the private sector in working to bring this project to fruition,” he added. As development advisor to the project consortium, Jones Lang LaSalle has gained significant interest from terminal operators and expects PCCP to announce its selected operator later this year.  Carver added, “Clearly, transshipment traffic in Panama, and particularly on the Atlantic side of the Canal, is facing long term capacity constraints.  Despite global economic uncertainties, container volumes in Panama have continued to grow at impressive rates and, after 2014, we expect this growth to accelerate further.”


“Our discussions with market participants clearly point to the need for a new terminal such as PCCP which is uniquely capable of providing significant blocks of new capacity to the Atlantic transshipment market, together with a variety of integrated logistics, warehousing, and value-added processing facilities,” he concluded.
 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Japan's MHI Bags Indian Oil's LNG Storage Tank Contract

Indian Oil Corp (IOC) has awarded a contract to build two football stadium-sized liquefied natural gas (LNG) storage tanks at its upcoming Ennore LNG import terminal

Gazprom, Gasunie Sign Framework Agreement - LNG

At a Meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Han Fennema, CEO and Chairman of the Executive Board of Gasunie a Framework

De Nora Acquires Severn Trent's Water Purification Business

De Nora announces the completion of the acquisition of the Water Purification group of Severn Trent Services. The new business line, called De Nora Water Technologies,

Ports

Danish Ports Approve HullWiper

Authorities at the Danish ports of Copenhagen, Kalundborg and Fredricia have granted permission for GAC EnvironHull’s pioneering, diver-free, underwater HullWiper

Lakes Limestone Trade Tops 4 Mln Tons in June

Shipments of limestone on the Great Lakes totaled 4,042,766 tons in June, an increase of 6 percent compared to May, and 9-plus percent compared to a year ago, according

Haiti’s Port Lafito Officially Opens

GB Group inaugurated their Port Lafito, a world-class modern container port in Haiti. They informed that the port is now open and operational. Port Lafito

Finance

Container Shipping Lucky to Break Even in 2015

A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015, according

Dry Bulk Market Crisis: Opportunity or Threat?

The shipping industry is experiencing the biggest dry bulk market recession since the 1980s, as uncertain global economic outlook and increased imbalance between

As First Victims Mourned, Italian Navy Searches On

Italy held a funeral service on Tuesday for 13 migrants who died in the worst shipwreck in the Mediterranean in recent history, while the navy continued its search for other victims of the disaster.

Container Ships

Container Shipping Lucky to Break Even in 2015

A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015, according

CMA CGM's OPDR Acquisition Approved by EU

The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R.

First Gas Turbine-powered LNG Carrier Granted AIP

Hyundai Heavy Industries (HHI) announced it has jointly developed world’s first gas turbine-powered 174,000 m3 LNG carrier with GE Aviation and Marine and has secured

Intermodal

Port of New Orleans Goes Green

Green Marine, a North American environmental certification program for the marine, port and terminal industry, officially recognized the Port of New Orleans recently as a certified Green Port.

Navis N4 TOS Open in Liverpool Terminal

Peel Ports, owners and operators of the Port of Liverpool, has achieved a major milestone in its multi-million investment program to transform the port into Europe’s

GEORG FORSTER Calls Southampton for the First Time

The CMA CGM Group announced that the CMA CGM GEORG FORSTER called England for the first time on July 6th.    With its 1,305 ft. (398m) length and 177 ft. (54m) width,

Logistics

Container Shipping Lucky to Break Even in 2015

A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner shipping industry profitability for the rest of 2015, according

CMA CGM's OPDR Acquisition Approved by EU

The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R.

Dry Bulk Market Crisis: Opportunity or Threat?

The shipping industry is experiencing the biggest dry bulk market recession since the 1980s, as uncertain global economic outlook and increased imbalance between

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1668 sec (6 req/sec)