The International Finance Corporation (IFC) is considering offering a $500 million loan to help Panama finance the current canal expansion. The project, which includes adding a third set of locks to the canal, has a current estimated price tag of over $5 billion. The expansion will allow larger ships to pass through the aging American [...]
Archive for the ‘panama canal’ Category
IFC Considering $500 Million Loan To Support Canal Expansion
Posted in panama canal, panama economy, tagged IFC, panama, panama canal on August 21, 2024 | Leave a Comment »
Continued Growth Expected In Panama Container Shipping Industry
Posted in panama canal, Panama Real Estate, tagged panama, panama canal, panama economy, panama real estate investment on June 23, 2024 | 1 Comment »
Despite an economic downturn in the United States, maritime authorities in Panama are projecting a ten percent increase in the number of shipping containers transported through Panama ports in the next year, as reported last week by Reuters. It is predicted that 5.6 million 20-foot shipping containers will be handled at Panama ports in 2024, [...]
American Cruise Line Pays Exorbitant Fee For Panama Canal Passage Amid Slowdown in Canal Traffic
Posted in panama canal, Panama Real Estate, tagged disney cruise line, panama canal, panama cruise, panama real estate investment on June 16, 2024 | 1 Comment »
Disney Cruise Lines paid the extremely high fee of $283,400 for one of its cruise ships to cross the Panama Canal in May. Cruise lines and tankers are willing to pay increasingly higher fees to avoid the transportation time and costs associated with transporting goods over land or around South America. Slots for non-reserved ships [...]
Chevron Increasing Capacity At Las Minas Facility In Panama
Posted in panama canal, panama economy, tagged chevron, las minas, panama, panama canal on May 15, 2024 | Leave a Comment »
Chevron is planning on doubling the capacity of its Las Minas facility in Panama to nearly 4 million barrels. This increase in capacity is to meet the rising demand for fuel in Central America, and for ships passing through the Panama Canal. The Las Minas facility is located near Colon, Panama, and provides fuel, derivatives, [...]
Torrijos Says Panama Canal Expansion Is On Schedule
Posted in panama canal, panama economy, tagged jobs in panama, panama, panama canal, panama canal expansion, panama economy on April 29, 2024 | Leave a Comment »
Panamanian President Martin Torrijos has stated that the major expansion to the Panama Canal is currently on schedule. The President said yesterday that the Canal Authority is still looking at options for financing nearly $2.5 billion of the project, but that the contract to build the new lock system will be announced by the end [...]
Panama Birthplace Of John McCain Very Different 71 Years Later
Posted in panama canal, tagged coco solo, colon, john mccain on April 8, 2024 | Leave a Comment »
Current US Senator and presidential hopeful John McCain has deep ties to Panama, in fact, he was born there. The presidential candidate was born in the port city of Colon, in a neighborhood that housed US military families in the Panama Canal Zone. The Senator’s Panamanian roots have even raised some questions as to his [...]
Panama Canal Improvements To Benefit Panama’s Already Booming Real Estate Market
Posted in panama canal, tagged panama, panama canal improvements on April 6, 2024 | Leave a Comment »
The Panama Canal Authority has requested over $2 billion this year to finance a major expansion of the panama canal, a project that once complete will help to further boost Panama’s already growing economy and real estate market. The project, which is slated to be completed in 2024 for the centennial celebration of the opening [...]
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