krogragg

Category: Panama

  • $33.4 billion acquisition of AES filling financial coffers for Panamanian firms’ $4B lawsuit

    $33.4 billion acquisition of AES filling financial coffers for Panamanian firms’ $4B lawsuit Sinolam, Panamanian companies with projects in the liquefied natural gas (LNG) and power generation sector, has provided its take on the acquisition of AES Corporation by a consortium led by Global Infrastructure Partners, part of BlackRock, viewing it through the lens of…

  • Maersk and MSC handed temporary running of Hutchison’s Panamanian terminals

    Maersk and MSC handed temporary running of Hutchison’s Panamanian terminals Maersk and Mediterranean Shipping Co (MSC) have moved in to run key terminals at the entrances to the Panama Canal after Panama published a Supreme Court ruling annulling long‑running concessions held by CK Hutchison’s Panama Ports Company (PPC), clearing the way for an immediate handover…

  • CK Hutchison warns Maersk off Balboa and Cristobal

    CK Hutchison warns Maersk off Balboa and Cristobal Hong Kong terminal operator CK Hutchison has escalated its fight over two Panama Canal terminals by warning A.P. Moller‑Maersk that any attempt by APM Terminals to assume operations without Hutchison’s consent would trigger legal recourse and claims for damages. In a public update, Hutchison said it had…

  • Panama’s port purge draws China’s ire

    Panama’s port purge draws China’s ire The diplomatic spat between China and Panama is worsening over the Central American nation’s decision last week to strip Hong Kong’s CK Hutchison of its rights to operate two ports.  Panama’s president, José Raúl Mulino, declared the government will never again award the Balboa and Cristobal port concessions to…

  • Splash Wrap: Ports in a storm

    Splash Wrap: Ports in a storm The deepening dispute between Panama and China over two key ports at the Panama Canal was a constant source of headlines following a landmark Supreme Court ruling that invalidated CK Hutchison’s long-held concession contracts. A trade pact between the US and India that cuts American tariffs and ties New…

  • CK Hutchison launches arbitration after Panama court voids port concessions

    CK Hutchison launches arbitration after Panama court voids port concessions Hong Kong’s CK Hutchison has launched arbitration proceedings against the republic of Panama, escalating a deepening dispute over two key ports at the Panama Canal following a landmark Supreme Court ruling last week that invalidated its long-held concession contracts. The conglomerate disclosed early Wednesday that…

  • APM Terminals steps up with offer to temporarily run Hutchison’s Panamanian ports

    APM Terminals steps up with offer to temporarily run Hutchison’s Panamanian ports Following last week’s decision by Panama’s Supreme Court to annul concession contracts held by a CK Hutchison unit for the Balboa and Cristobal terminals, Maersk-controlled APM Terminals has stepped into the breach. The Danish port operator has signalled its willingness to assume temporary…

  • Panama court torpedoes CK Hutchison terminals deal

    Panama court torpedoes CK Hutchison terminals deal Panama’s Supreme Court has thrown CK Hutchison’s flagship Panama Ports Company (PPC) concession into limbo, ruling the Hong Kong group’s contract to operate terminals at either end of the Panama Canal unconstitutional. In a brief statement late Thursday, the court struck down the 25‑year extension granted to PPC…

  • EU-funded study to asses feasibility of Panama-Spain green shipping corridor

    EU-funded study to asses feasibility of Panama-Spain green shipping corridor London-based environmental, energy and engineering consulting company Ricardo is leading a study that investigates […] The post EU-funded study to asses feasibility of Panama-Spain green shipping corridor appeared first on Offshore Energy. Nadja Skopljak Go to offshore energy biz

  • Panama cracks down on STS transfers in bid to clean up fleet

    Panama cracks down on STS transfers in bid to clean up fleet The Panama Ship Registry has become the first flag in the world to implement stricter controls and mandatory traceability for offshore ship-to-ship (STS) transfers of hydrocarbons. Non-compliance—depending on its severity—may lead to the cancellation of a vessel’s Panamanian registration. The regulation requires all…

  • Hutchison faces court challenge for control of ports in Panama

    Hutchison faces court challenge for control of ports in Panama The future of two of Panama’s most strategic ports is hanging in the balance after president José Raúl Mulino said on Thursday that public-private partnerships could assume control of the Balboa and Cristobal terminals if the courts strike down the operating contract of Hong Kong-based…

  • Panama Canal rebounds as container and LPG volumes rise

    Panama Canal rebounds as container and LPG volumes rise While the Red Sea has roared back to the front pages of the shipping press this week, and the Black Sea remains blighted by war, one other chokepoint that has caused supply chain chaos in recent years has reported that it is operating at full capacity.…

  • Trump calls for free passage of American ships through Suez and Panama canals

    Trump calls for free passage of American ships through Suez and Panama canals US president Donald Trump has called for free passage of American ships through two of the vital shipping waterways, the Panama and Suez canals. Trump said in a social media post on Saturday that American ships, both military and commercial, should be…

  • Panama to incentivize low-emission shipping with new priority passage program

    Panama to incentivize low-emission shipping with new priority passage program The Panama Canal Authority (ACP) has unveiled a new initiative that prioritizes vessels running […] The post Panama to incentivize low-emission shipping with new priority passage program appeared first on Offshore Energy. Sara Kosmajac Go to offshore energy biz

  • ‘We are not a shelter for sanction evasion’: Panama flag

    ‘We are not a shelter for sanction evasion’: Panama flag Facing pressure from Washington, the Panama Maritime Authority, which looks after the world’s second largest ship registry, has defended its position, insisting it is deflagging many sanctioned vessels.  US officials have accused Panama of not taking action to help enforce sanctions on vessels and shipowners…

  • Panama president hits back at Trump over canal takeover threat 

    Panama president hits back at Trump over canal takeover threat  Panama’s president, José Raúl Mulino, has rejected US President-elect Donald Trump’s comments that his new administration could move to take back control of the Panama Canal after accusing the country of charging excessive rates on US ships. Speaking at his post-election rally in Arizona over…