Panama to Consider New Canal Transshipment Project
The Panama Canal Authority (ACP) is aiming to build a new transshipment port in Corozal region of the country, but the Panamanian National Assembly still needs to endorse the project, said the ACP in a Dec. 30 press release. The…
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ACP Board approved the project, which would take up 120 hectares and be able to handle five million twenty-foot equivalent units (TEUs). “The project's first phase will include 1,350 linear meters of docks, three docking positions for Post-Panamax ships, and an approximate handling capacity of three million TEUs,” said the release. “Currently, the Pacific side has an estimated capacity of five million TEUs. With the Expanded Canal, demand on the Pacific side is expected to reach six million TEUs and by 2020, eight million TEU capacity.” The new transshipment terminal would include facilities that service Post-Panamax sized vessels. The Panama Canal project, based in significant degree on facilitating those larger ships, is due for completion at the end of 2015 (see 1412100064). The National Assembly is expected to consider this specific project in the next few days, said ACP.