New species of blood-red coral found off Panama coast. : Weekly News Roundup, September 21st, 2018

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New species of blood-red coral found off Panama coast.

Marine ecologists have described a bright-red species of coral from Panama that’s new to science.

The researchers found the coral growing at a depth of 45 to 50 meters (148 to 164 feet) in Hannibal Bank, a coastal seamount 60 kilometers (37 miles) off Panama’s Pacific coast. The bank, which researchers have only started to explore, is part of Coiba National Park, a marine reserve and a UNESCO World Heritage Site.

The newly described coral belongs to the genus Thesea, a group that includes 27 known coral species. The new species, Thesea dalioi, is only the second known species of Thesea discovered in the eastern Pacific, researchers say in a new study published in the Bulletin of Marine Science. The only other known species in the eastern Pacific, T. variabilis, has been reported off Isla del Coco, Costa Rica, and La Jolla, California.

Source: Mongabay

Panama and US sign maritime transportation agreement.

Panama’s Minister of Maritime Affairs Jorge Barakat and the United States’ Maritime Authority Administration (MARAD)’s Admiral Mark. H. Buzby, have inked a major maritime transport co-operation agreement in Washington D.C.

“The signing of this Memorandum of Co-operation will optimise the exchange of information and experiences for the training of seafarers and port operators; it will also promote favourable conditions for the private sector investment and will serve as a framework to present the maritime investment projects promoted by Panama to US investors, in order to continue strengthening Panama’s logistics hub,” said Minister Barakat.

Source: SeaTrade Maritimef

Panama economy grew 1.98 pct in July, helped by fishing, transport.

Panama’s economy grew 1.98 percent in July compared to the same period a year earlier, helped by growth in sectors including fishing, transportation and communications, the government said on Monday.

The government did not disclose how much each sector grew. Nevertheless, the transportation sector benefited from brisk activity in the Panama Canal and international travel. The government is targeting economic growth of 4.5 percent this year, below last year’s 5.4 percent growth rate, due to declines in sectors such as construction, which has been hampered by strikes and fewer projects.

Source: Reuters


Why “Green Season” is Still a Great Time of Year to Visit Panama

Panama is a tropical country with a tropical climate, and that means that throughout the year, the weather is pretty predictable. While some may laugh at that assessment (often, it can rain out of nowhere), the “predictable” part of the weather is that during “green season” it rains, and during “dry season” rain is rare.

Go for a boat tour through the Canal.
It may sound strange to go out on a boat in the rain (or just before or after), but it’s one of the best times to go and see some of the natural areas through the Canal. Rainy season brings all of Panama’s wildlife and natural beauty to life, and you can just feel the energy as you coast through on a covered pontoon boat, yacht, or ferry. Colors are more vibrant during the season, and the light drip of rain adds a romantic, and authentic touch to being right here in the center of the tropical isthmus.

Source: POLS Blog


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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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