Carnival Fantasy damaged in the Panama Canal. : Weekly News Roundup, September 22nd 2019




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Welcome to the Panama Weekly News Roundup! Here’s the latest.

Welcome to the Panama Weekly News Roundup! Here’s the latest.

Carnival Fantasy damaged in the Panama Canal.

The Carnival Fantasy cruise ship was damaged in the Panama Canal on Friday.

A viewer reached out to News 5 to say her son is on the Mobile-based ship with his girlfriend. She shared photos showing broken glass panels on one of the decks.

Carnival Cruise Line released the following statement:

“During Carnival Fantasy’s passage through the Panama Canal this evening, the ship came in contact with one of the locks. There are no reports of injuries. The crew’s immediate focus was to safely complete the transit through the canal so they can then assess the extent of any damage. We will share more information as soon as possible.

The Carnival Fantasy left Mobile Monday on a 10-day cruise. In the coming days, the ship is scheduled to make stops in Costa Rica, Honduras and Mexico before returning to Mobile.”

Source: WKRG News

Climate change threatens the Panama Canal.

Take in the view from atop Gatun dam and fathom what is missing. Container ships float idly on Lake Gatun, near the midpoint of the Panama Canal, awaiting passage to the Caribbean sea, their gateway to the Atlantic Ocean. What look like islands are hilltops poking up from a valley that American engineers flooded a century ago, creating what was then the world’s largest artificial lake. All seems well. But a security guard from the Panama Canal Authority (acp) points down to a problem: the water lapping against the dam is 1.8 metres (six feet) lower than it should be.

That water is Panama’s lifeblood. Lake Gatun stores rain during the wet season, which usually runs from mid-April through to mid-December, for use in the dry one. It supplies drinking water to Panama city, the capital, as does man-made Lake Alajuela nearby. It is also two-fifths of the canal, a shortcut between oceans for 3% of the world’s maritime trade, as well as for cruise ships and an occasional nuclear submarine. The acp provides an eighth of the national government’s revenue. “Water is money here,” says Oscar McKay, an engineer at the dam site.

Source: The Economist

Panama and Rotterdam sign agreement.

The Panama Canal and the Port of Rotterdam signed a Memorandum of Understanding to promote international trade between Europe and the West Coast of South America.

Through this agreement, the two organizations will work closely to optimize operations while encouraging economic growth and the exchange of information on new business development opportunities, including logistics parks and port development projects.

“The Expanded Canal continues to reshape global trade routes today, reinforcing our position as the logistics hub of the Americas,” said Vice President for Complementary Businesses Rafael Pirro.

Source: The Medi Telegraph

 

Panama Relocation Datasheet: Quick tips and history before you move!

Moving to Panama? Planning on investing in Panama? Just coming for a quick visit? Get to know the country first. There’s so much to this culturally rich, fun, and diverse country that you’ll want to be prepared to get the most out of it, no matter what your interest level is.

The word “Panama” means “abundance of fish.”

While some historians believe that Panama was an indigenous name for a particular tree, or an abundance of butterflies, the majority consensus is that it means “abundance of fish.” Panama was a thriving area for many indigenous tribes who settled there for the natural resources and protection. Even today, the country is known for its natural riches and resources, which keeps the name ringing true.

Source: POLS Blog

About POLS Attorneys Staff Writer


As one of the leading Panama Law Firms, and one of the regions most reliable offshore service providers, POLS Attorneys brings a wide range of professional knowledge to our clients needs. Our staff is made up of professional offshore consultants, Panama attorneys and immigration specialists who are experienced in offshore business, understand international investment and asset protection strategies, and are experts in providing a seamless Panama immigration process.

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