maritime

Port revenues growing

Panama's port system moved 4 million 20-foot containers in 2007, an increase of 32.2 percent over 2006. The activity generated approximately $36 million in revenue for the State, which receives $9 for every container.

State revenues from the port system are likely to climb higher since the port terminals also handle vehicles and machinery, for which there is another tariff, said deput administrator of the Autoridad Marítima de Panamá (AMP) Carlos Raúl Moreno.

The ports of Balboa and Cristóbal, which are administerd by the Panama Ports Company (PPC), continue to be the two ports with the highest percentage of growth in comparison with other cargo terminals. The manager of the PPC, Alejandro Kouruklis, attributes this to investments made in 2007,that "facilitated an increase in clients."

Kourkuklis mentioned the case of Maersk as an example, which last year started scheduling the arrival of one post- panamax ship per week. New business with the shipping lines APL, MOL and ZIM also contributed to the growth. Balboa enjoyed growth of 85.5 percent last year.

Cristobal's 106.2 percent growth was attributed to business with Seaboard Marine, Melfi Marine and Costa Container Line.

The PPC is making an investment of $300 million in Balboa and $200 million in Cristóbal.

"At the end of January we'll receive four new port cranes, for a total of 18 in Balboa, and that will support the growth of our clients," Kourkuklis added.