The Panama Canal Authority (ACP) has issued a Request For Proposals (RFP) to the four pre-qualified port operators selected to compete for the concession to design, develop, finance, construct, operate and maintain a container terminal located near Corozal, in the Pacific entrance of the Panama Canal.
As part of the Panama Canal Diversification Strategy, the Corozal Container Terminal will play an important role in providing additional port capacity on the Pacific side of Panama in order to support the transshipment needs of the larger vessels going through the Expanded Panama Canal. The project will add to the waterway's already robust set of offerings for the maritime industry and further position Panama as the logistics hub of the Americas.
Upon completion, the container terminal will have the capacity to handle more than five million TEUs at the Canal's entrance in the Pacific side. The two-phased project will include the construction of a 2,081-linear-meter-dock, a container yard, offices and warehouse facilities within a 120-hectare area owned by the Panama Canal.
Last year, the Panama Canal received interest from a number of international companies to compete for the project, and in April 2016, the names of the four pre-qualified companies able to bid were announced: APM Terminals B.V. (The Netherlands); PSA International Pte., Ltd. (Singapore), Terminal Link (France); and Terminal Investment Limited, S.A. (The Netherlands).
The four port operators have until February 3, 2017 to submit the required specifications and economic proposals for the 20-year concession.
About the Pre-Qualified Port Operators:
APM Terminals
APM Terminals is based in The Hague, Netherlands, and is part of the Danish group AP Moller Group. It handled 36 million TEUs worldwide. APM Terminals operates 72 terminals in 69 countries and is currently developing eight new terminals. APM Terminals is one of the top five largest port operators worldwide.
PSA International Pte., Ltd
PSA International Pte., Ltd is based in Singapore and was founded in 1964. It is positioned as the largest port operator worldwide mobilizing more than 64 million TEUs in 2015. It has 44 terminals in 14 countries including Panama.
Terminal Link
Terminal Link, is part of the CMA CGM Group, which is one of the five largest shipping companies in the world. It was founded in 2001 and to date has port operations in 14 countries, in four continents. In 2014, Terminal Link handled 12 million TEUs.
Terminal Investments Limited (TIL)
Over the past decade, TIL has become one of the 10 largest port operators worldwide, operating 29 terminals in 21 countries. In 2014, it moved 33 million TEUs. Mediterranean Shipping Company (MSC) develops port activities in TIL terminals.
About the Panama Canal
The Panama Canal is run by an autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the Panama Canal Authority (ACP) is based on its organic law and the regulations approved by its Board of Directors.