New Panama Canal Record Set by OOCL | Weekly News Roundup, May 26th, 2017

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

New Panama Canal Record Set by OOCL.

The 13,926 TEU Neopanamax containership OOCL France has broken the record for the largest capacity vessel to transit the Panama Canal less than a month after the previous record was set.

As this is OOCL France’s first transit through the waterway, the Panama Canal honoured the vessel with the Green Connection Award in recognition of its commitment to emissions reductions by using the Panama Canal route.

By using the waterway, this vessel helped reduce approximately 5,000 to 26,000 tons of carbon dioxide (CO2) in comparison to alternative routes. OOCL France, which measures 366.47 meters in length and 48.23 meters in beam, transited northbound from the Pacific to the Atlantic Ocean.

Source: Port Technology

Interpol seeks arrest of former Panama president Martinelli.

Interpol has issued an international arrest warrant for former Panamanian President Ricardo Martinelli, who is wanted at home on political espionage and corruption charges.

The arrest warrant comes amid a gathering storm over $59m in alleged bribes paid on Mr Martinelli’s watch in the Central American nation by Brazilian construction company Odebrecht. Interpol has already issued wanted notices for Mr. Martinelli’s two sons on allegations they accepted bribes from Odebrecht. They have denied the allegations, labeling them “groundless”.

Panamanian television station TVN aired what appeared to be an Interpol red notice, complete with the former leader’s photograph and fingerprints. There was no notification on the Interpol website but Marcos Córdoba, the police commissioner assigned to Panama’s judicial investigations directorate, confirmed the notice to Reuters and other media.

Source: Financial Times

Tocumen Ranked The Best Airport In Central America

International Travel has named the Tocumen International Airpot in Panama for the fourth year in a row, as the top airport in Central America and the Caribbean.

The annual airport awards are presented by Skytrax, considered the “largest, annual global airport customer satisfaction survey.” Skytrax World Airport Awards this year were based on 13.82 million airport survey questionnaires completed by 105 different nationalities of airline customers during the survey period, July 2016 to Feb. 2017, covering 550 airports worldwide, according to the company.

The survey evaluated traveler experiences including “check-in, arrivals, transfers, shopping, security and immigration through to departure at the gate.”

Source: PTY Life


The Hub of The Americas: How Panama leads the way in shipping and logistics

Panama has long been known as the “hub of the Americas”, and one of the most significant transportation and logistics countries in the world. Panama has some of the most international flights leaving and arriving (connections or otherwise) in the world, and certainly the region, with more being added every year.

Obviously, if you’re planning on moving to Panama, investing in Panama, or retiring to Panama, you’ve heard of the Panama Canal. But did you know just how important trade is to the small isthmus nation? Panama exports about $700 million worth of goods and services each year, while importing a staggering $12 billion. A quarter of all trade is done with the United States, with exports focusing mostly on food items, coffee, timber, and some metals.

Source: POLS Blog


About Manoj Chatlani

Manoj Chatlani is a Senior Partner at POLS Attorneys, a full-service law firm in Panama City, Panama. Specializing in offshore services, including asset protection, estate planning, offshore banking, and offshore corporations, as well as Panama immigration and real estate transactions, POLS Attorneys offers clients a streamlined solution to all their Panama legal needs. Manoj is a Panamanian lawyer and holds a law degree from USMA and earned a Masters in Communication Law and Panama Tax law.

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