Directors of the Panama Canal Approved Plans for a New Port in the Pacific
We are pleased to transcribe article of Container Management of London in its February issue on the projected port of Corozal in the Pacific of the Panama Canal entrance.
The Panama Canal’s board of directors has approved the development and construction of a trasshipment port in Panama’s Corozal región at the Canal’s entrance to the Pacific. Once comlete, the port Project, wich is currently awaiting the final stage of approval from Panama’s National Assembly, will have a 5 million TEU capacity withing a 120 ha area.
The two-phased plan includes the construction of a 2.081 meters dock, a container yard, offices and warehouse, facilities within an área owned by the Panama Canal. The first face will comprise 1.650 meters of docks, three docking positions for post-Panamax ships, and an approximate handling capacity of 3 million TEU. At present, the Pacific sideAdvancing the terminal in the Corozal region is a priority has an estimated capacity of 5 million TEU but after the expansion, demand of the Pacific side is expectet to reach 6 million TEU and then 8 million TEU by 2020. With a 16.3 meters deep access canal and a depht of 18 meters along the dock, the new terminal facility will provide docking facilities for five post-Panamax ships.
Panama Canal Administrator/CEO, Jorge Luis Quijano, said: “Advancing the terminal in the Corozal region is a priority. It is part of the Panama Canal’s goal to explore and devolop areas, products and services that are closet o our core business, and that add substantial value to our customer as a one-stop Gateway with multiple services”. He added: “This new facility will result in a significant increase in inter-oceanic cargo traffic, enabling the Canal to add value to the route and customers, consolidate Panama’s position as a internal logistics and maritime hub”.
Once the National Assembly approves the bill, the Panama Canal Authority intends to proceed to the development and tender process by calling for bids to hire a company that will be responsable for all stages of the Project. The contract will, most likely, consist of a 20-year concession, renewable once for 20 years.