PORT DEVELOPMENT
Although no timetable has been set, the AMP has commissioned feasibility studies for a new 500,000teu/year container terminal in Corozal, next to Balboa but tenders are not expected until 2012 but ‘we are definitely interested in participating in the bid because we’re keen to have a terminal on the Pacific side,’ says Carlos Urriola, MIT gm. ‘SSA finds this opportunity interesting and worth exploring as long as we could connect competitively the cargo between both terminals,’ he adds.
‘The government seems serious about the cruise terminal, possibly in tandem with a new convention centre, so it seems likely to happen. The chances of the development at Corozal succeeding are less straightforward due to the waterside access and potential conflicts with Canal traffic,’ comments David Taylor. On the Atlantic side, MIT has approved ‘an additional $200m–$300m investment to prepare for the inauguration of the third set of locks in 2014 and plans to build new piers and purchase equipment for the future post-Panamax vessels,’ says gm Carlos Urriola. The draught of the access channel to the bay of Manzanillo, where MIT and Colon Container Terminal (CIT) are located, must be increased to 16.5m from 14m, Urriola adds. And at Panama Ports co (PPC) that administers both Balboa, on the Pacific and Cristobal on the Atlantic side, the scenery at Balboa is constantly changing. Panama Ports began three years ago a $1bn expansion programme for the two terminals, Balboa and Cristobal, allowing $200m to the Atlantic port to double its capacity and whose cargo volume growth has been in the double digits ever since. ‘Balboa and Cristobal expansion is carefully planned to match supply and demand of port facilities in the region, but above all our first consideration is our customers plans to grow in the coming years so we can ensure sufficient port facilities for their additional business in short and long term,’ says Luca Versari, the new PPC gm who replaces Alejandro Kurouklis who moved to Barcelona. Panamanian terminals saw their container volumes increased by 31.8% in 2010 up to 5.59m teu. Balboa remained the star, posting growth of 37.1% with 2,758,506teu in 2010. It has seen increasing business from MSC, while ‘Maersk continues to be tremendously important for us,’ says Versari. Cristobal container volumes reflected the ongoing expansion registering a 94.1% growth to a total of 689,058teu becoming the second most important terminal on the Atlantic side. Evergreen’s Colon Container Terminal (CCT) returned to the black by posting
PANAMA MARITIME REVIEW 2011/12 Panama Ports Company (PPC) P
anama Ports Company (PPC), a subsidiary of Hong Kong-based Hutchison Ports Holdings (HPH) that administers the port of Balboa and Cristobal is gearing for another good year, considering that Balboa throughput rose 37.1% and Cristobal 94.1% in 2010 and both terminals posted growth of 28.2% and 52.9% respectively during the first half of 2011.
Although PPC gm Luca Versari (pictured) forecasts a slight increase of cargo volumes in 2011 compared to the previous year, he remains cautious about the future. ‘We are planning to be conservative for [2012].’ ‘What is going to happen with the US economy, with several countries in crisis in Europe and a noted slow down in Asia, is the million dollar question nobody really knows how to answer,’ comments Versari. Balboa handled 2,758,506teu in 2010 and cargo volume increased to 912,387teu in the first half of 2011, compared to 711,478teu during the same period the year before, while some 689,058teu were handled at Cristobal in 2010 and 280,780teu during the first semester of 2011 compared to 183,648teu in the same period of 2010.
‘Volumes increased in proportion similar to those seen two or three years ago, but the peak season seemed shorter [in 2010 and 2011] which will lead us to invest more carefully and be sure there is a market to sustain the investments,’ explains Versari. For a visitor coming regularly to Balboa, the scenery is constantly changing with an additional 450mtr of pier giving Balboa a total of 1,720mtr of quay and a total of 22 quay cranes that have transformed the Pacific terminal into the largest craneage of the Americas, in addition to 56 RTGs. The container yard has grown to 45 hectares with the completion of Phase
growth of 16.1% to 519,750teu, thanks to COSCO new callings at the Taiwanese terminal and a rebound of feeder services. MIT container volumes grew by 13.8% to 1,599,676teu. Transhipment represents around 85% of the cargo moved in Panama, with only around 15% representing domestic cargo. Of the domestic volumes, 85-90% is bound for the Canal Free Zone.
The same upside trend continued during the first half of 2011, when ports in Panama showed a growth of 26.4% up to 1,860, 110teu. Balboa grew by 29.2% to 912,387teu while Cristobal registered an increase of 52.9% to
4 of Balboa’s expansion that included reclaiming land on a large portion of the area called Diablo Heights under a concession contract signed in 1997. Panama Ports began three years ago a $1bn expansion programme for the two terminals, Balboa and Cristobal, allowing $200m to the Atlantic port to double its capacity and whose cargo volume growth has been in the double digits ever since.
Luca Versari, PPC gm
Cristobal has a total of 11 quay cranes, one Panamax mobile harbour crane and four additional RTGs, totalling 34 RTG cranes for container yard operations with additional yard space for the terminal growth. A 360mtr pier, equipped with four new post-Panamax cranes will start soft operations by middle of September 2011 and will be fully operational by end 2011.
‘Balboa and Cristobal expansion is carefully planned to match supply and demand of port facilities in the region, but above all our first consideration is our customers plans to grow in the coming years so we can ensure sufficient port facilities for their additional business in short and long term,’ says Versari.
280,780teu. ‘Volumes increased in proportions similar to those seen two or three years ago but the peak season seemed shorter [in 2010 and 2011] which will lead us to be more careful investment wise and be sure there is a market to sustain the investments,’ explains PPC gm Versari.
On the Atlantic side, the crisis seemed to be forgotten as CCT throughput grew by 8.3% during the first half of 2011 and showed positive figures with cargo volumes of 143,851teu compared to 132,851teu during the same period the year before. Breaking the million teu [620,758 moves] mark in July 2011, so early in the
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