Panama’s Balboa Port Set for Expansion

Panama's Balboa Port Set for Expansion
Port of Balboa

The Panama Ports Company (PPC), a part of Hong Kong-headquartered Hutchison Whampoa Ltd., has set aside a budget of around USD 110 million to expand Panama’s Balboa port throughout 2015, Reuters reports.


The upgrade is expected to result in more loading and unloading space within the port, as well as to electrify the facility’s current fuel-burning crane zone, said Aitor Ibarreche, PPC Chief Executive Officer.

“We expect this project will allow us to boost capacity to some 5 million containers, up 11 percent compared with the port’s current capacity,” said Ibarreche.

The expansion purposely coincides with the massive, USD 7 billion Panama Canal upgrade project, scheduled for completion by 2016.

Besides the Balboa Port, PPC operates the Cristobal Port on the Caribbean coast.

World Maritime News Staff; October 13, 2014; Image: ASTL



Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >