The new issue of the Panama Maritime Review 2020-2021 celebrates 20 years of publication.
It has become a most comprehensive source of information on and for the domestic maritime industry presenting all the components of a sector contributing more than 35% of the country’s GDP and which has given Panama a brand name of excellence.
Like every year, the Panama Maritime Review gives a detailed outlook of the various sectors of Panama’s maritime economy, but this 2020-2021 issue shows how they are all affected by the global pandemic.
An insightful interview of the Panama Canal Administrator, Ricaurte Vasquez, describes his vision of a waterway of the future and the “trade shifts [that] will lead to different trade patterns and transportation requirements, consolidating supply chain and service providers further”. The Canal is engaged in a critical $2 billion project to provide enough water to maintain operations in decades to come. Pre-qualified companies and the design of the project will be announced in February with works to begin by early 2022. Chapters on Canal customers and the main cargo routes complement the stories on the Panama Canal.
Since Panama is a significant transhipment hub in the region with more than 7m teu, port development is a main feature looking at throughput of the five private container terminals and their investments, with each port manager giving his forecast for 2021.
The Panama Ship Registry and the Panama Maritime Authority, like all the maritime sectors in Panama, have adopted strict sanitary measures due to the Covid-19 pandemic and focused on crew changes, declaring seafarers as “key workers”, being the Maritime Authority a regional leader in crews’ movements.
Panama is also transforming into a regional leader of bunker supply representing an attractive $2 billion business. Main bunker suppliers talk about the sector’s challenges amidst the implementation of IMO 2020.
Shipping and logistics services, legal affairs, cruise facilities, and attractions complete the usual sections of the Panama Maritime Review.
Source: Seatrade Maritime