PANAMA is interested in a business model proposed by DP World involving additional infrastructure to meet a surge in trade once the expanded waterway is complete in January 2016.
"Panama has several port operations but we have the potential to build more," said Panamanian Foreign Minister Isabel Saint Malo.
"There is interest on their part and there is interest on our part about their model. So, there are different areas where the two can cooperate in terms of building the facilities [and] in terms of running the facilities," she said.
The expanded Panama Canal will allow 13,500-TEU vessels to pass through the waterway, thereby helping to reduce the cost of trade and opening the east-west trade routes up to much bigger ships.
The Panama Canal has been losing volume to the Suez Canal along trade routes between Asia and the US east coast, due to the Suez Canal's ability to handle ships of largest size compared to the 4,500-TEU limit through Panama.
WORLD SHIPPING
23 November 2014 - 21:56
Panama in talks with DP World over new business model for canal
PANAMA is interested in a business model proposed by DP World involving additional infrastructure to meet a surge in trade once the expanded waterway is complete in January 2016.
WORLD SHIPPING
23 November 2014 - 21:56
Panama in talks with DP World over new business model for canal
This news 6405 hits received.
These news may also interest you