New Projects

The “Green Port Panama Atlantic” project will consist of a mega-port with approximately 127 hectares on Largo Remo Island in Cristobal, province of Colon. It was officially approved on April 10, 2014 with a total investment of USD$ 7.97 billion, which includes direct and indirect costs, as well as management, construction, testing, environmental mitigation and execution. The project is scheduled to be completed within seven years by its promoter Linden Partners, a Spanish company.

The primary objective of this marine terminal will be to offer shipping services and supply fuel to future postpanamax ships moving through the expanded Canal. Additionally, it will serve as a complementary port for docking vessels too large for the Canal, known as super post-Panamax. This terminal seeks to become a world class logistics platform for consolidating and distributing international cargo (including passengers and cargo throughout the Americas) as well as provide shipyards and promote trade at a national and international level. The master plan includes a multimodal port with industrial, fishing, and cruise zones, terminals for fuel, bulk and liquid cargo, logistics zones, commercial and tourist zones, five buildings, a power plant, an eco-park, and others.

Among the mitigation measures, it considers the restoration or reforestation of 2,500 hectares of mangrove near the project or in other areas, in conjunction with the ARAP, local authorities and neighboring communities.

This project was officially approved on November 28, 2013. It consists of 9.5 hectares located in the Pacific, former ferry area, near the Bridge of the Americas at Balboa. The project will be developed by Port & Harbour Society Marine Service Corp. with an investment of USD$ 17 million.

This multipurpose dock will provide handling and supply services of fuel, cargo and passenger transportation, vessel repair and maintenance, boarding and disembarking motorboat services, construction and management of warehouses and shops for maritime auxiliary services. The dock will also have the capacity to supply water to ships, collect, transport, treat, handle, dispose, and incinerate solid and liquid wastes from vessels, as well as ship chandler services and other maritime auxiliary services.

On December 24, 2012 the Panama Maritime Authority granted a 20-year concession to Termini Financing Group, S.A. to operate a business for the handling and storing of general cargo, provide ship chandler services, a storage facility for oil, diesel and petroleum, as well as motorboats, tugs and barge services. The project consists of ​​approximately 2.4 hectares of land and sea in Cristobal, Colon city. The lease fee agreed upon was 25 cents per square meter for both land and sea areas. The society will need to invest $ 3.5 million to improve current infrastructure.

Panama Colon Container Terminal (PCCP) is a new project recently approved by the Panama Maritime Authority (AMP) that will be located at the Atlantic entrance of the Panama Canal. This new terminal will be built in Isla Margarita at the Coco Solo area, a former US Nave base known as Fort Randolph. With an expected total area of 37 hectares, four berths and able to receive 18,000 teus vessels, the terminal will have a capacity to handle around 2 million teus per year after an investment of $600 million.

Preliminary information indicates that PCCP will have a draft of 52 feet allowing 2 berths to accommodate Super Post Panamax vessels, a 3450-foot berth for Post Panamax and a 522-foot berth for multipurpose and breakbulk vessels. It will have a storing capacity of 36,000 teus, 800 reefer slots, and a set of 10 quay cranes: 8 super post-Panamax and 2 Panamax.

This terminal is expected to begin its construction by mid-2012 by private Asian developers with Jones Lang LaSalle acting as development advisers. The project will be completed by the fall of 2014 before the new canal system begins operations.

The Corozal terminal is a proposal presented by the Panama Canal Authority (ACP) that allocates a new initiative at the current Corozal area. This new project will have 118 hectares, currently housing APC offices in around 75 hectares.

The Corozal terminal is still under a conceptual phase, but it is expected to become a transshipment hub for containerized cargo with direct access to the railroad.