Panama Canal Board Of Directors News

Ilya Espino de Marotta, who played a lead role in the expansions of the Panama Canal  took office  on January 1 as  the  first  woman  deputy administrator of  the waterway.She was chosen by the board of directors of the Panama Canal Authority to replace  Manuel Benítez, who retired on December 31, 2019.Mrs. Espino de Marotta began her career at the Canal in 1985 as the sole female engineer at its shipyard. She now works alongside more than 1,000 women and recently served as the Vice President of Transit Business and the Executive Vice President for Engineering during the Panama Canal Expansion Program.The new deputy administrator took office in the presence of the president of the Board of Directors and Minister for Channel Affairs…

Dr. Ricaurte Vásquez Morales was sworn-in during a ceremony held at the Panama Canal Administration Building in Panama City, becoming the fourth Panamanian Administrator of the waterway shortly before it celebrates its 20th year under Panamanian administration on December 31, 2019.Administrator Vásquez an economist with more than 30 years’ experience in the public and private sector said: "Just a few months short of the 20th anniversary of the transfer of the Canal to the Panamanian people, we face a distinctly different reality today. Trade now travels along different routes.""This new global reality, in which the Canal operates, requires us to redefine and adapt our business.

The Panama Canal Authority (ACP) held Tuesday a public hearing on the proposed modifications of its toll structure which culminated the period for receiving inquiries from the industry.The agency of the government of Panama responsible for the operation and management of the Panama Canal recently published a proposal to modify its current tolls structure for the dry bulk, passenger, containership, vehicle carrier and RoRo segments, as well as tankers, chemical tankers, LPG and LNG vessels, the intra-maritime cluster and minimum tolls.“The public hearing is an invaluable part of the process,” said Panama Canal Administrator Jorge L. Quijano.

The Panama Canal Board of Directors announced the appointment of Ricaurte Vasquez as the next Panama Canal Administrator.According to a press note from the artificial 82 km waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean, Vasquez will take office on September 4, 2019, succeeding current Administrator Jorge L. Quijano, who concludes his seven-year term at the helm of the waterway.The decision was made by the Board of Directors in accordance to an independent, transparent and rigorous process mandated by the Panamanian Constitution and Organic Law of the Panama Canal Authority."As part of the Panama Canal Authority's autonomous institutional process…

The Panama Canal Authority (ACP) has announced  that the Panama Canal Expansion will be officially inaugurated on Sunday, June 26, 2016. The announcement was made this morning during the inauguration ceremony of the Canal’s state-of-the-art Scale Model Maneuvering Training Facility, which will provide additional hands-on experience to pilots and tugboat captains to operate in the Expanded Panama Canal. The President of Panama, Juan Carlos Verela, was in attendance at the inauguration ceremony…

The Panama Canal Board of Directors this week formally approved the development and construction of a transshipment port in Panama’s Corozal region. Upon completion, the port will have the capacity to handle more than five million TEUs within a 120-hectare area at the Canal’s entrance to the Pacific. The project is now awaiting the final step for approval from Panama’s National Assembly. The project is another example of the Canal’s continual commitment to develop new products, enhancing customer service and furthering Panama’s position as the logistics and maritime hub of the Americas. The two-phased port project will include the construction of a 2,081-linear-meter-dock, a container yard, offices and warehouse facilities within a 120-hectare area owned by the Panama Canal.

The Panama Canal celebrated its 15 year anniversary under the leadership of the Panamanian Administration. The Panama Canal Authority (ACP) is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. Since 1999, the Canal has invested $2.4 billion in projects aimed at updating its operational infrastructure and has acquired new equipment, guaranteeing its clients an efficient, safe, reliable and competitive service. During fiscal year 2014 (Oct. 1, 2013 to Sept.

The Panama Canal board of directors this week formally approved the development and construction of a transshipment port in Panama’s Corozal region. Upon completion, the port will have the capacity to handle more than five million TEUs within a 120-hectare area at the canal’s entrance to the Pacific. The project is now awaiting the final step for approval from Panama’s National Assembly. The project is another example of the canal’s continual commitment to develop new products, enhancing customer service and furthering Panama’s position as the logistics and maritime hub of the Americas.

President Mireya Moscoso of Panama made a final appointment for the post of Minister of State for Canal Affairs. Jerry Salazar, former director of the Panama Maritime Authority, has been appointed to the said position. Since the Canal Minister chairs the ACP board, Salazar will assume the Chairmanship of the Panama Canal Board of Directors. Salazar replaces Ricardo Martinelli, who resigned as Canal Affairs Minister in January. Salazar brings experience in developing and executing maritime policy. In 1989, he was appointed Director of the National Ports Authority, which eventually became the Panama Maritime Authority (AMP). As director of the AMP…