Panama Canal News

The Panama Canal Authority on Thursday downplayed a report that an LPG vessel paid $4 million to jump the transit queue, saying the result reflected temporary market conditions rather than a fee set by the waterway, as the Iran war drives more traffic to the canal."The recent outcome of an auction awarded to an LPG vessel reflects temporary market shifts and is not the result of a rate set by the Panama Canal," the authority said in a statement, without confirming how much was paid out in the auction.It said auction values are driven by factors including customers' urgency…

Hong Kong-based conglomerate CK Hutchison's Panama unit has launched an arbitration against Maersk after the takeover of two strategic ports near the Panama Canal which are at the center of a legal battle that has embroiled Beijing and Washington.In a statement, Panama Ports Company (PPC) said Maersk broke a long-term contract by siding with the Panamanian government to help remove PPC from its operations at the Balboa port and replace it with a Maersk-affiliated operator."Contrary to the contract…

A unit of Hong Kong conglomerate CK Hutchison said on Tuesday it had widened its claims in an international arbitration case against Panama, saying damages had now risen to more than $2 billion.Panama Ports Company, which for nearly three decades operated the Balboa and Cristobal terminals near the Panama Canal, said it had supplemented its claims in proceedings under the International Chamber of Commerce's arbitration rules, a month after what it described as the state's illegal…

Asian refiners are increasingly sending medium-sized crude cargoes from the U.S. Gulf Coast to Asia through the Panama Canal as the U.S.-Israeli war with Iran disrupts trade flows, raises shipping costs and forces Asian refiners to hunt for alternative supplies.The use of medium-sized tankers that typically cost more per barrel to transport crude, coupled with Asian companies' willingness to pay additional fees to move oil through the Panama Canal, underscores their urgent need…

Panama Ports Company (PPC), a unit of Hong Kong conglomerate CK Hutchison 0001.HK, said on Monday that the Panamanian government failed to file its response by the March 13 deadline in an international arbitration brought by the company.PPC said the deadline was set by the International Court of Arbitration of the International Chamber of Commerce (ICC) and that Panama sought a partial extension, saying it was not ready to respond because it had not hired lawyers and needed time…

China's COSCO Shipping has suspended operations at Balboa port which is located at the entrance to the Panama Canal, according to local newspaper La Prensa, which published a notice to clients from the shipping and logistics conglomerate.Balboa is one of the two ports at the center of a year-long saga involving Washington, Beijing and the Panamanian government. The move follows a ruling by Panama's Supreme Court in late January that annulled the contract to operate the port held by a unit of Hong Kong's CK Hutchison.APM Terminals…

Hong Kong conglomerate CK Hutchison said on Friday it has escalated its legal fight in Panama after the government seized its port operations, petitioning for a review of the decree behind the takeover.The company said Panama unlawfully occupied facilities, seized property and ignored consultations, prompting further national and international legal action.CK Hutchison's Panama Ports Company (PPC), which manages two terminals near the globally strategic Panama Canal, filed an…

Hong Kong conglomerate CK Hutchison said on Tuesday Panama authorities had threatened its employees with criminal prosecution if they refused to leave two strategic canal ports at the centre of a legal battle that has embroiled Beijing and Washington.CK Hutchison said Panama's decision to cancel key port contracts and grant temporary licences to Maersk and Mediterranean Shipping (MSC) was 'unlawful' as it considers national and international legal action against Panama and third…

The Panama Canal and the U.S. Grains & BioProducts Council (USGBC) signed a Memorandum of Understanding (MOU) designed to strengthen their collaboration through the enhancement of global trade with U.S. agricultural products. Under the terms of the MOU, the Panama Canal and USGBC will collaborate on joint market efforts like economic analysis, as well as sharing trade and logistical data. Through this type of cooperation, the partnership will support an increasing international demand for U.S.

Hong Kong's CK Hutchison said on Wednesday its Panama Ports Company unit has started international arbitration proceedings against Panama after the country's top court annulled its licences to operate two Panama Canal ports, in a case that could take years to resolve.Panama's Supreme Court last week ruled the contracts violated Panama's constitution by giving the company exclusive privileges and tax exemptions.It is unclear how long the arbitration proceedings could take, although given the political sensitivities involving the U.S.

The Panama Canal marked a significant milestone on Monday with the inaugural transit of the Neopanamax cruise ship, Disney Adventure, the largest passenger vessel by capacity and gross tonnage ever to transit the interoceanic waterway.The passage of the ship, 208,000 gross tons and with capacity for approximately 6,700 passengers, took place as part of her positioning voyage. The cruise ship measures 342 meters in length and 46.4 meters in beam.The Disney Adventure is one of five cruise ships completing their inaugural transits during the 2025–2026 cruise season…

The Panama Canal Authority and Monjasa, a global supplier of marine fuels, have signed a cooperation agreement aimed at developing initiatives that benefit communities within the Panama Canal Watershed (CHCP).The five-year agreement provides for the implementation of targeted projects in environmental protection, comprehensive well-being, culture, community development, and education, all aligned with the United Nations Sustainable Development Goals (SDGs). These initiatives will…

The Panama Canal Authority (ACP) has commemorated 26 years of Panamanian administration, marking a new anniversary since its transfer at noon on December 31, 1999.The Authority says this historic milestone was a catalyst for national sovereignty and pride and has allowed Panama to demonstrate its capacity to efficiently manage one of the most strategic routes in global trade.Among the most significant milestones of more than two decades of management are:Canal expansion: The inauguration of the expanded canal in 2016 transformed the global maritime industry…

The Panama Canal expects an increase in transits of liquefied petroleum gas (LPG) vessels and carriers of some agricultural commodities to help it compensate for a reduction in world trade next year, the waterway's chief told Reuters on Monday.The world's second-busiest interoceanic waterway registered a 14% revenue increase to $5.7 billion in the fiscal year ended in September and saw 19% more transits, with LPG vessels and container ships moving more cargoes through the canal that connects the Pacific and Atlantic oceans."LPG is a product that will be even more valuable in the next 20…

The Panama Canal Authority has launched LoTSA 2.0, the next generation of its Long-Term Slot Allocation program.Building on the success of LoTSA 1.0, LoTSA 2.0 packages will transition from a 12-month horizon to a more agile 6-month offering, divided into two 6-month cycles. By shortening the commitment window, customers can better align their transit planning with market conditions, seasonal fluctuations, and fleet deployment strategies, says the Authority.The Panama Canal has…

The Panama Canal has decided to introduce the first hybrid tugboats to its fleet, beginning with 10 vessels and the option to add an additional 10 in the coming years. The first two, the Isla Barro Colorado and the Isla Bastimentos, arrived in Panama and were officially christened earlier this month. Their debut marks the beginning of a progressive fleet renewal, with the additional deliveries of tugboats arriving every two months.This move is embedded in the ACP’s sustainability…

The number of vessels that passed through the Panama Canal edged down slightly to an average of 32.5 ships per day in August compared to the 32.6 per day in the previous month, its authority said in a bulletin released on Wednesday.While traffic through the world's second-busiest inter-oceanic waterway has increased since last year, when it lifted passage restrictions related to a severe drought, it is still not fully allocating the 36 slots per day on offer.The canal is on track…

The Panama Canal presented has proposed budget for fiscal year 2026 to the Cabinet Council.The budget is focused on long-term investments, with a particular emphasis on water sustainability through the Río Indio Lake project. It also includes efforts to diversify business activities, invest in workforce development and well-being, support the traditional and Western basins, and ensure the sustainable and competitive operation of the Canal.During its presentation to the Cabinet Council, the National Government responded to concerns expressed by the Río Indio watershed communities.

On August 15, the Panama Canal marked 111 years of operations, renewing its commitment to a sustainable future through a water strategy focused on public well-being and an operational vision that enhances the country’s logistical competitiveness.Since the waterway’s inauguration in 1914, with the historic transit of the steamship Ancón, which, for the first time, connected the Pacific and Atlantic Oceans, the canal has been a driver of Panama’s economic and social development while also a transformer of global maritime trade.“In 25 years under Panamanian administration…

The Panama Canal will soon begin consultations with companies about launching a competitive tender in the first quarter of next year offering two new ports for construction and operation within its zone, a source involved in the preparations said on Thursday.The ports are part of a broad expansion plan being organized by the waterway's administration. It aims to increase services related to cargo handling, including transshipment, storage and gas transportation, and to secure fresh water for operations."There is a large demand for facilities and terminals…

CK Hutchison said on Thursday its $22.8 billion ports business sale had a "reasonable chance" of going through after a plan to add a Chinese major strategic investor to the buying consortium, as it tries to navigate through Sino-U.S. tensions.CK Hutchison, based in the Chinese-controlled territory of Hong Kong, has faced heavy criticism from Beijing since unveiling a plan in March to sell 43 ports in 23 countries, including two near the Panama Canal, to a group led by BlackRock and Italian Gianluigi Aponte's family-run shipping firm MSC.President Donald Trump had called for the U.S.

The Panama Canal has incorporated two new 27-meter tugboats into its fleet.The vessels will assist ships during lock entry and exit maneuvers, as well as during their passage through the Culebra Cut, one of the most demanding sections of the waterway. They are also essential for ensuring safe and efficient transits through the Neopanamax locks where maximum maneuverability and precision are required.The newly incorporated tugboats are Z-Tech 6000 models, which are internationally recognized for their energy efficiency, high operational performance and responsiveness.

Panama's maritime authority (AMP) said on Monday it has launched a process to cancel the registrations of 17 vessels included in a list of sanctions from the U.S. Treasury's Office of Foreign Assets Control (OFAC)."The AMP has tightened its control mechanisms to avoid the inclusion of unwanted actors under the Panamanian flag," it said in a statement, saying this followed the recent addition of a company, a Panamanian citizen and 17 vessels registered on Panama's ship registry on an OFAC sanctions list.(Reuters)