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HomeMaritime NewsRegionsAmericasPanama Canal expansion dispute talks extended to 4 Feb

Panama Canal expansion dispute talks extended to 4 Feb

Panama Canal expansion dispute talks extended to 4 Feb
The Panama Canal Authority (ACP) and contractors Grupo Unidos por el Canal (GUPC) have extended talks to 4 February in a bid to settle a dispute over $1.6bn in cost overruns on the expansion of the canal.

The talks that also include insurers Zurich American have so far failed to settle the dispute, which has seen work on the locks for the expanded canal slow to just 25% of their normal level, with a threat by GUPC to suspend works altogether.

“The parties agreed to continue meeting over the weekend to further evaluate the options aimed at reaching an agreement,” ACP said in a statement.

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