SINGAPORE port operator PSA International has started on the US$400 million expansion of its container terminal on the Pacific side in anticipation of a vast feeder trade when the expanded Panama Canal opens next year.
PSA's Pacific International Terminal, having been granted approval by the Panamanian National Assembly, the Panama Canal Authority ACP, the Panama Maritime Authority and the Panamanian State, has announced that work is under way.
The task, said PSA Panama general manager Alessandro Cassinelli, is to ensure having state-of-the-art infrastructure ready to serve container vessels with a capacity of up to 18,000 TEU.
"This project increases the ability of the country to handle additional containers in line with the vision of promoting Panama as the logistics hub of the Americas," said Mr Alessandro Cassinelli.
Said PSA Latin America chief Enno Koll: "Then the enlarged Panama Canal opens, vessels of up to 12,500 TEUs will ply the Asia-US east coast routes and be able to use Panama's Pacific coast as a transshipment hub for the west coast of South and Central America."
Mr Koll said vessels of 4,000 TEU would then then serve Ecuador, Peru and Chile, Guatemala and Costa Rica on a weekly schedule via Panama.
"This allows shipping lines to benefit from economies of scale in operating across the Pacific and along the South American coast. PSA Panama will provide sufficient capacity to allow lines to build a hub strategy," he said.
WORLD SHIPPING
07 May 2015 - 19:14
PSA Panama starts US$400 million Pacific Panama expansion to feed feeders
SINGAPORE port operator PSA International has started on the US$400 million expansion of its container terminal on the Pacific side in anticipation of a vast feeder trade when the expanded Panama Canal opens next year.
WORLD SHIPPING
07 May 2015 - 19:14
PSA Panama starts US$400 million Pacific Panama expansion to feed feeders
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