The Colombian port of Cartagena is going ahead with $400 million expansion project in the expectation of an increase in traffic from the Panama Canal.
“This is the future of the port,” said Giovanni Benedetti, commercial manager with Sociedad Portuaria Regional de Cartagena (SPRC).
“With the Canal expansion going full steam ahead, we realized that we need to move forward with this investment sooner rather than later.”
Cartagena is less than a day's sailing from the Panama Canal's Atlantic entrance.
The authorities have decided to push ahead with growing the private container terminal (Contecar facility) rather than upgrading Cartagena's 900,000 TEU (twenty foot equivalent unit) capacity Manga terminal.
$37 million worth of equipment, including post-Panamax ship-to-shore cranes and RTGs (rubber tyred gantries) will now be delivered to the Contecar facility instead of the Manga terminal as initially planned.
Contecar's land area and potential quay length have proved pivotal in plans to accommodate the new generation 6,300 TEU post-Panamax ships.
Studies by engineering specialist Moffat and Nichol suggested that capacity at Manga could be reached in as little as two years.
'The time is right to push ahead – all the studies suggest it is the right time to do it,” said Moffat and Nichol Latin America ports director Michael Horton.
According to Benedetti, SPRC is currently in talks to secure funding required for land development and equipment purchase.
“There is no shortage of offers from the banks,” said Benedetti.
Manga is being run under a 40-year concession while the Contecar facility is privately-owned by SPRC.
Reports say that SPRC wants to capitalize on the port's proximity to the Panama Canal. The canal is expected to be ready to handle ships of up to 12,500 TEUs from 2014.
Some data suggests container throughput in the region is set to grow more than 10% in the medium-term.
“This is the future of the port,” said Giovanni Benedetti, commercial manager with Sociedad Portuaria Regional de Cartagena (SPRC).
“With the Canal expansion going full steam ahead, we realized that we need to move forward with this investment sooner rather than later.”
Cartagena is less than a day's sailing from the Panama Canal's Atlantic entrance.
The authorities have decided to push ahead with growing the private container terminal (Contecar facility) rather than upgrading Cartagena's 900,000 TEU (twenty foot equivalent unit) capacity Manga terminal.
$37 million worth of equipment, including post-Panamax ship-to-shore cranes and RTGs (rubber tyred gantries) will now be delivered to the Contecar facility instead of the Manga terminal as initially planned.
Contecar's land area and potential quay length have proved pivotal in plans to accommodate the new generation 6,300 TEU post-Panamax ships.
Studies by engineering specialist Moffat and Nichol suggested that capacity at Manga could be reached in as little as two years.
'The time is right to push ahead – all the studies suggest it is the right time to do it,” said Moffat and Nichol Latin America ports director Michael Horton.
According to Benedetti, SPRC is currently in talks to secure funding required for land development and equipment purchase.
“There is no shortage of offers from the banks,” said Benedetti.
Manga is being run under a 40-year concession while the Contecar facility is privately-owned by SPRC.
Reports say that SPRC wants to capitalize on the port's proximity to the Panama Canal. The canal is expected to be ready to handle ships of up to 12,500 TEUs from 2014.
Some data suggests container throughput in the region is set to grow more than 10% in the medium-term.