Evergreen Gets 20-Year Colon Terminal Lease Extension

Taiwan-listed shipping company Evergreen Marine Corp. has received an approval to extend its lease of the Panamanian Colon Container Terminal (CCT) for a period of 20 years, according to local media.

Panama’s Cabinet approved the lease extension on Wednesday, prior to the scheduled visit of the Taiwanese President Tsai Ing-wen to the country for the opening of the Expanded Panama Canal on June 26.

Colon Container Terminal, which has three wharfs for small- and medium-sized container vessels, is capable of accommodating vessels with a capacity of 10,000 TEUs.

The company reportedly said that the No. 4 wharf is being expanded to link to the No. 3 wharf, in order to provide a docking space of 780 meters where two large vessels in the 12,000-14,000 TEUs range would be able to dock.

Once the wharves are joined, the total annual capacity at the Colon port is expected to increase from 1.5 million to 2.4 million TEUs.

World Maritime News Staff

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