Panama Canal freshwater fee increases delays, transit fees; MR freight higher : Weekly News Roundup, February 28th, 2020

Feb 28, 2020 | Panama News

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

Panama Canal freshwater fee increases delays, transit fees; MR freight higher.

The implementation of new freshwater conservation surcharge at the Panama Canal on February 15 has doubled typical wait times for clean tankers at the Canal in recent weeks, and higher transit prices have started to incorporate into and increase long-haul freight for Medium Range tankers loading on the US Gulf Coast and steaming through the Canal.

Clean tanker owners in the Americas have said that increased costs for transit through the Panama Canal and massive delays for pre-booked and non pre-book tankers require that lump sum spot rates for routes loading on the USGC and discharging in West Coast South America and in Asia increase. To maintain their earnings at a sustainable level, Medium Range tanker owners have kept up bullish sentiment for those key routes in the past weeks, giving a small boost to freight out of the USGC region.

Source: Hellenic Shipping News

Panama’s sovereign wealth fund elects first female president.

Anamae Maduro de Ardito Barletta was unanimously elected president of Panama’s Sovereign Wealth Fund by its board of directors. She is the first woman to hold the post.

Maduro will replace José Abbo, who has been in charge of the fund since December 2012. “Her election marks an important milestone for the fund and Panama, being the first woman president and director of our important heritage,” Abbo said of his successor. A statement from the fund said Maduro has over 20 years’.

Source: Central Banking

The Suicide Squad Cast Celebrates Finishing Filming in Panama.

The Suicide Squad began shooting at Atlanta’s Pinewood Atlanta Studios then moved Panama, where filming has officially wrapped, according to director James Gunn.

“That’s a wrap on our time in Panama,” Gunn posted on Instagram, along with a short video of himself in Panama. “The Suicide Squad isn’t quite done shooting but we’re approaching the finish line and we did just wrap some key cast members – Joaquin Cosio, Daniela Melchior, Joel Kinnaman, John Cena and Steve Agee.”



A New Beach in Panama City? It’s a possibility!

Have you ever driven down Avenida Balboa, or walked the beautiful tree-lined Cinta Costera, looked at the Panama Bay and wondered: what would a beach look like here in the city? If you have, it’s probably for good reasons.

Once upon a time, for most of Panama City’s modern existence in fact, the curved banks of the Panama Bay was home to a vibrant, swimmable beachfront. For a large part of the 20th century, locals and visitors bathed, played, and took in sun along the Panama Bay, stretching from Paitilla all the way to the Casco peninsula.

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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