Panama Canal Plans New Megaproject : Weekly News Roundup, September 8th, 2020

Sep 8, 2020 | Uncategorized

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

Panama Canal Plans New Megaproject to Solve Water Supply Problems.

Water supply issues have plagued the Panama Canal for years. When rainfall is limited and nearby lakes begin to get low, the Panama Canal Authority (ACP) has to implement draft restrictions in order to keep the canal running, limiting the amount of cargo vessels may carry across the canal.

Now, just four years after the completion of the gigantic Expanded Canal initiative, the ACP is soliciting bids from international engineering firms for a new megaproject: a comprehensive water management system that would improve the functioning of the canal and secure the nation’s drinking water supply at the same time.

Source: The Maritime Executive

Enel secures 5-year renewables PPA in Panama.

Enel Green Power SpA announced on Thursday it has secured a contract to supply a total of 31 million kWh of clean energy in Panama over five years.

Enel Green Power Panama (EGPP) has signed a power purchase agreement (PPA) with state lender National Bank of Panama (Banconal). Under its terms, the Panamanian subsidiary of Italy’s Enel SpA (BIT:ENEL) will energise five of the bank’s branches, allowing Banconal to achieve an energy saving target of about EUR 420,000 (USD 496,000), the energy company said.

Source: Renewables Now

PANAMA SEEING ‘SIGNS OF RECOVERY’ FOR SHIPPING TRAFFIC AND BUNKER VOLUMES.

Silvia de Marucci, Executive Manager Economic Analysis and Market Research with the Panama Canal Authority (ACP), told delegates at Petrospot’s online Global Bunkering Summit (GBS) today that: ‘Little by little, our indicators are showing some signs of recovery’.

Speaking during this afternoon’s Bunkering Hubs session, de Marucci said that the ACP had been looking forward to a ‘very good year’ in 2020, as the IMO 2020 switchover was expected to boost bunker prices and therefore incentivize more ships to use the Canal to cut their transit times. The year did start well – but then the COVID-19 pandemic rather dashed Panama’s expectations. The cruise sector, said de Marucci, was the first casualty but all sides of the shipping industry have been affected to some degree and the Panama Canal has seen a significant drop in traffic and bunker volumes.

Source: BunkerSpot

 

Retire in 2021 in Coronado, Panama.

Panama is rich with natural beauty and modern conveniences, and when it comes to both in one place, Coronado has it. This is one of many reasons why Coronado is one of the best places to retire in Panama. Coronado is a beach town with so much to offer for retirees; you’ll feel right at home.

At the same time, you’ll also enjoy the tropical paradise that is the Panamanian Pacific coast. There’s world-class shopping, golf, great restaurants and bars, and of course, a booming real estate market. Coronado is also just an hour’s drive from Panama City, making it an easy trip to Tocumen International Airport, and all of the amenities the capital has to offer.

Source: POLS Blog

POLS Attorneys Staff Writer

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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