ACP prequalifies four firms to bid on new container terminal

The Panama Canal Authority said APM Terminals, Terminal Investment Limited, Terminal Link and PSA International are all in the running for the concession of the Corozal Container Terminal.

The Panama Canal Authority (ACP) said it has issued a request for proposals to four pre-qualified port operators selected to compete for the concession to design, develop, finance, construct, operate and maintain a container terminal capable of handing over five million TEUs near Corozal, in the Pacific entrance of the Panama Canal.

Three of the four pre-qualified port operators are affiliated with the three largest container companies in the world: APM Terminals with number one Maersk Line, Terminal Investment Limited (TIL) with number two Mediterranean Shipping Company, and Terminal Link with number three CMA CGM.

The fourth company is PSA International, the largest container operator in the world. PSA is wholly-owned by Temasek, an investment company of the Government of Singapore. PSA already operates the PSA Panama International Terminal in Panama City, which is in the process of increasing capacity from 450,000 TEUs to 2 million TEUs.

"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 ACP said. In addition, the ACP said the new terminal will "further position Panama as the logistics hub of the Americas."

The facility would be developed in two phases and would include a 2,081-linear-meter-dock, a container yard, offices and warehouse facilities within a 120-hectare (296.5 acres) area owned by the Panama Canal.

The ACP said the Corozal Container Terminal will be developed as a "green port" with environmentally-friendly standards that minimize its impact on the community and provide solutions to address transportation, noise and air pollution issues.

The four companies have until Feb. 3, 2017 to submit the required specifications and economic proposals for the 20-year concession.

Source: American Shipper