- Canal Launches Consultation with Global Maritime Players.
- Feasibility Study to Shape Panama’s Twin Terminal Projects.
- Concessionaire Selection Expected by Late 2026.
The Panama Canal is kicking off a consultation process with representatives from the maritime industry to find potential partners for developing new port terminals on both the Atlantic and Pacific sides. This initiative mirrors the canal’s earlier gas pipeline project, inviting only companies that have a solid track record in container port operations and shipping, reports AJOT.
Next Steps: Feasibility Study and Concession Process
As part of this initiative, the Panama Canal will carry out a market and feasibility study for both terminals. The insights gained will help shape a general project plan that will guide the selection of a concessionaire. The concession process will involve:
- A prequalification phase
- An interaction and dialogue stage with shortlisted participants
- The final selection of the concessionaire
This process is expected to wrap up by the fourth quarter of 2026, ensuring transparency and competitiveness, with participation anticipated from leading global companies. The Panama Canal has reiterated its commitment to responsible planning, transparency, and following institutional procedures, all in line with its mission to foster sustainable and competitive maritime development.
Strategic Vision: Strengthening Panama’s Maritime Competitiveness
According to the Panama Canal’s strategic vision for 2025–2035, container terminals are viewed as the second most vital infrastructure after the locks and navigation channels. Developing these terminals will boost port capacity and help keep the Panama route competitive in global trade. An estimated investment of B/.2.6 million is projected for both terminals, which is expected to contribute between 0.4% and 0.8% of Panama’s GDP.
Economic and Employment Impact
The project is expected to create around 8,100 jobs during the construction phase and about 9,000 jobs once operations kick off. This includes a mix of direct, indirect, and induced employment opportunities.
The new port infrastructure is designed to boost container transhipment capacity by an impressive 5 million TEUs each year. This move will strengthen Panama’s status as a key intermodal hub and help tackle the capacity challenges currently faced in the interoceanic region, which is approaching its operational limits.
Commitment to Sustainable Development
Through these efforts, the Panama Canal is reaffirming its dedication to both Panama and the global community. It aims to continue being a catalyst for international trade and economic growth while fostering fair, resilient, and sustainable development for all Panamanians.
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Source: AJOT
