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Focus on Panama

A year of technological progress

Seatrade Maritime An engineering feat of modern history
The Panama Maritime Authority (AMP) has been key to the development of significant projects.

The Panama Maritime Authority (AMP), led by Administrator and Minister of Maritime Affairs, Noriel Arauz, has been key to the development of significant projects. The formal inauguration at end 2023 of Amador Cruise Port, the first cruise home port on the Pacific side; the implementation of the strategy ‘Facing the Sea’ (De frente al mar) designed by this Administration in 2019; and the signature of several agreements at international level for the benefit of seafarers’ welfare.

The concession contract signed in 2021 with the Balboa Shipyard has re-activated the dormant shipyard whose activity is thriving, generating direct and indirect income; and the long-awaited tender for the construction of the new fiscal dock in Puerto Armuelles, Baru, province of Chiriqui, resulted in the award to the consortium Asobuz, formed by the Panamanian company Administracion y Supervision de Obras Civiles, S.A. and the Colombian company Busca Soluciones de Ingenieria, S.A., at a cost of $21.19m.

The Panama Maritime Authority (AMP) closed the first half of 2023, exceeding its financial expectations and reaching $93.6m in revenue collection. For the first six months of the year ‘we had a projected budget of $85.9m, but the income received represents an increase of $7.7m and 9% more than expected,’ the AMP said at the time.

The AMP’s key indicators comply with its goals. During the first half of the year, in addition to having a surplus and paying its expenses in a self-sustainable manner, the Authority could contribute to the Central Government $32m. The AMP expects a total contribution of $112m for 2023, making it one of the institutions that contributes the most to the State.

These financial achievements are the result of the AMP’s teamwork, in all national por ts, central offices, private merchant marine consulates and technical o ffices around the world, each contributing to comply with the “Facing the Sea” strategy that has marked the momentum in the last four years. Even with the pandemic, the AMP has maintained its revenue growth, with over $3,000m raised since its creation, in 1998.

The key projects executed have been, the Amador Cruise Terminal, the construction of the Puerto Armuelles Fiscal Dock for $20m, the new Seafood Market in Pedregal, Chiriqui, the new administrative office building of the AMP, the reconstruction of the Quimba and Yaviza docks in Darien, Esterillo in Cocle, among others.

Read the full article online in our Panama Maritime Review 2023/2024