Panama to have $600 million fourth container terminal

Panama will get a fourth container terminal, in Colón at the Atlantic entrance to the canal, under a project that has been granted permits by the Panama Maritime Authority.

The $600 million terminal will be built by a consortium of private Asian developers called the Panama Colon Container Port.

It is being built as a transshipment center to help eliminate some of the pressure from the US East and Gulf Coast ports that will not be ready to accommodate the super post-Panamax vessels that will start sailing through the canal after 2014.


Source: Journal of Commerce