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China Among Bidders for New Panama Canal Ports: Reports
Panama seeks $8.5 billion from global investors including China to expand canal port capacity and build infrastructure, with contract awards planned for late 2026.
- On Tuesday, Ricaurte Vasquez said China is among parties interested in bidding to build two new ports on the Panama Canal and that Panama will solicit `the broadest possible competition` with all parties bidding on equal footing.
- Panama is seeking investment over the next decade to expand port capacity and fund projects including a gas pipeline and new reservoir, while a March deal with US-led BlackRock remains unfinished.
- The Panama Canal Authority has begun meetings with interested firms, including Cosco Shipping Ports, OOCL, PSA International, Evergreen, Hapag-Lloyd, Maersk, and CMA Terminals.
- Ricaurte Vasquez declined to speculate on whether awarding contracts to Chinese firms could increase tensions with the United States, despite US concerns over the bid process, Vasquez said.
- The Panama Canal spans 80 kilometres and handles five percent of the world's maritime trade, while Panama's five main ports lie adjacent and are run by foreign concessionaires from the United States, Hong Kong, Taiwan, and Singapore.
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48 Articles
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Total News Sources48
Leaning Left5Leaning Right5Center12Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 23%
C 54%
R 23%
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