Port of New York and New Jersey out-reaching way into the future
- September 27th, 2016
Source: Seatrade Maritime News
At the board meeting held on 22 September, the commissioners of the Port Authority of New York and New Jersey approved a $3.4m contract with Hatch Associates Consultants for its first ever comprehensive master plan.
The master plan will look 30 years out into the future and unlike many consultant studies, which always incorrectly extrapolate some piece of economic data, this effort is about out-reach, with the aim of: “soliciting ideas and opinions from a variety of internal and external port stakeholders”. These include federal, state and local government agencies, neighboring communities, tenants, industry representatives, elected officials, labor organizations and the public.”
Container Vessels and LPGs the main users of the new Panama Canal so far, but LNGs expected to take the helm moving forward
- September 24th, 2016
Source: Hellenic Shipping News
Container vessels and LPGs have been the main users of the new, expanded Panama Canal thus far. Late last June, on the 26th, the first Neopanamax ship, the container vessel Cosco Shipping Panama, which had sailed from the Piraeus Port in Greece, transited the expanded Panama Canal. The next day, it was followed by the first commercial passage of a Liquefied Petroleum Gas (LPG) vessel. One month later, on July 26, the first Liquefied Natural Gas (LNG) tanker, the Shell-chartered Maran Gas Apolonia made its transit through the new locks.
In data compiled by Poten, “since its inauguration, the Panama Canal Authority (ACP) completed more than 160 successful transits through the new locks, which translates to an average of about two transits per day. As expected, container vessels have been the most frequent users of the new locks, followed by LPG vessels. “Going forward, it is expected that LNG tankers will become more frequent users of the canal as U.S. LNG export capacity continues to ramp up.
Panama - The Best Opportunity for Aquaculture Investment
- September 21st, 2016
Source: The Fish Site
The time is right for Panama to engage new technology and be at the forefront of the aquaculture industry. There are many reasons to consider aquaculture investment in Panama with the right opportunity. Size and species selection is paramount and the first consideration in profit potential that can help a potential investor exclude obvious pitfalls endured by failing companies.
Panama has an established aquaculture infrastructure, with excellent feed pellet manufacturing, established hatchery infrastructure and proven processing capabilities with buyers in the high profile market countries of the US, Europe and Japan.
Panama accedes to ship recycling convention
- September 21st, 2016
Source: Hellenic Shipping News
IMO’s efforts to promote safe and environmentally sound ship recycling have received a boost with Panama becoming the fifth state to accede to the Hong Kong Convention.
The Convention, which was adopted in 2009, covers the design, construction, operation and preparation of ships so as to facilitate safe and environmentally sound recycling, without compromising the safety and operational efficiency of ships.
Panama presents opportunities, pitfalls for potential investors in south Louisiana
- September 21st, 2016
Source: Greater Baton rouge Business Report
Panama presents a lot of opportunities for U.S. companies interested in investing in the nation’s rapidly growing economy, which has been averaging about 8.5% annual growth for the past several years. But companies looking to do business in Panama have to be aware of the potential pitfalls, says John Coronado, counselor for commercial affairs with the U.S. Embassy in Panama.
“If you are going to do business here know your partner, do your due diligence and make sure you have someone vetting the contract you’re signing,” Coronado advised a group of south Louisiana business, civic and political leaders on a Super Region Canvas trip to the Latin American nation-state. “You have to know who you are going to do business with. You want to make sure you aren’t exposing yourself unnecessarily.”