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PSA gets green light for Panama terminal expansion

Panama government has given PSA-Panama International Terminal (PPIT) a 20-year concession that will allow the Singaporean company to expand its operations, according to Panama’s Official Gazette.

Michele Labrut, Americas Correspondent

April 17, 2014

1 Min Read
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The terminal operator will invest $350m in the project that is located in the former Rodman Navy base, on the Eastern bank of the Panama Canal.

The existing terminal will add a total of 32 hectares for the development, construction, operation and management of the container terminal whose capacity will grow from the present 450,000 teu to 1.8m teu facilitating container movements, bulk cargo and vehicles.

The Panama Maritime Authority (PMA) will receive, at the end of the concession, in monthly fixed fees the sum of $17.6m, in addition to the rates for container units movements negotiated in the contract.

PSA-Panama International Terminal has been fully operational since July 2011. In 2013, it moved 123,808 teu, up 131.5% over the previous year. During the first two months of 2014, the terminal grew 366.5% compared to the same period in 2013 and moving 36, 691 teu, according to the PMA statistics department.

 

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About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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