Shipping market in crisis

Shipping is at an all-time low globally because of the oversupply of ships compared to the amount of products being exported.

Monday, December 1, 2008

You can find "sales" not only at the main stores globally due to the Christmas season, but also because of shipping prices. Less than two weeks ago, for example, the Cargill logistics company rented a Capemax type ship from the Japanese Mitsui OSK Lines company on a round trip via the Cape of Horns at the incredible price of $1000 per day. This same route used to cost between $1864 and $2000 less than a month ago.

How did this happen in Panama? Shipping rates evolve based on the law of the market (the higher the demand, the higher the price). Global prices have hit the floor due to greater supply of ships compared to the demand. However prices in Panama have not gone down as this phenomenon started only a few months ago.

For the Panamanian company, Valerio De Sanctis, this significant reduction in shipping prices for maritime cargo transport will not be felt this year, and will have a negative ...

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Shipping companies are preparing to increase by between 10% and 12% the rates for maritime transport from Guatemala to the United States.

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Revival of Fishing Industry in Panama

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The dynamism that has reappeared in exports of marine products is marked by a 88% increase in the sales of shrimp.

During the first three months of 2013, fishing activities reported the highest economic growth in the country, totaling $38.7 million versus $28.2 million reported in 2012.

Shipping Rates Up 10%

January 2013

The rise in logistics costs has a higher impact on businesses who export fresh produce.

On 1 January an increase came into effect of approximately 10% in the cost of shipping a container with cold storage leaving from Costa Rica.

According to an article in, companies that will be affected by the increase of approximately 10% are those who export fresh produce such as fruits and vegetables.

Peru Interested in FTA with Panama

April 2009

The Peruvian Embassy in Panama expressed interest in starting negotiations for an FTA in 2010.

Peruvian delegates expressed that a Free Trade Agreement (FTA) would be used by their country to promote the use of the Canal and Panama's geographical position. They also indicated interest in using the Colón Free Zone to re-export textile products.

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