PSA Panama International Terminal (PSA Panama) is investing over US$400m in the expansion of its container terminal on the west bank of the Panama Canal Pacific entrance, which began in February after being granted approval.
PSA Panama is increasing the capacity of the terminal from 450,000 teu to two million teu per year. It will be equipped with 11 quay cranes with a maximum outreach of 24 rows and over 1.1km of berth.
“The approvals by the National Assembly and the Panama Canal Authority are important milestones for us,” said Alessandro Cassinelli, general manager, PSA Panama. “In the past two years we have worked closely with the authorities representing the Panamanian State on the design and development of the expansion of our container terminal with the purpose of 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. In addition, the project opens up new logistics and maritime opportunities for the west bank of the Panama Canal Pacific, making this an important part of the future of Panama and its national logistics sector,” he added.
The investment into civil works amounts to US$285m, while the value of equipment will be over US$125m. In addition to the eight quay cranes, the terminal will feature 12 rail-mounted gantry cranes (RMGs), nine rubber-tyred gantry cranes (RTGs), 52 prime movers and three empty container handlers.
“When the enlarged Panama Canal opens, vessels of up to 12,500 teu will ply the Asia-US East Coast routes and be able to use Panama’s Pacific coast as a transhipment hub for the West Coast of South and Central America,” said Enno Koll, head of Latin America, PSA.
“Vessels of 4,000 teu can 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 concluded.
Source: Port Strategy
Source: Port Strategy