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The Central American Bank for Economic Integration approved a $21.4 million extension for the financing of the "Project to Improve the Technical and Operational Capabilities of Puerto Corinto."
This extension brings the total amount guaranteed to $184.6 million, making it the largest investment in the country's port sector in recent decades, informed the Central American Bank for Economic Integration (CABEI).
In Honduras, tugging services are being tendered for the execution of docking and undocking of ships, for the maritime terminals of Cortés, Omoa, Tela and San Lorenzo.
Water and sanitation works in Panama, improvements to a seaport and improvements to a bridge are part of the investments planned for the coming months in the region.
The interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects that are planned to be built in the coming months.
A $130 million loan is being negotiated with the BCIE to begin, at the end of the year, improvement works at the port of Corinto.
Representatives from the National Port Company (EPN) explained to Elnuevodiario.com.ni that in addition to the terminal's modernization plan, which would "... double the arrival of cargo ships ... an investment of approximately $70 million will be made in modernizing the port, only in what corresponds to equipment, and that the project will take about two years."
Lack of electricity and logistics and storage problems at Floridian ports are complicating exports from Central America, especially for perishable goods.
Difficulties faced at ports in Florida and Puerto Rico are affecting the region's exporters, who are looking for alternatives so that their shipments are not affected.
The 70% growth in cargo movement through the port of Corinto in the last five years reflects the imperative need for Nicaragua to invest more in port infrastructure.
Even though container movements through Nicaraguan ports are still significantly less than that through other ports in the region, the increase in sea freight traffic and its growth potential compel the government and the sectors involved to think about options for increasing port capacity.
A court ruling has overturned the SAT resolutions authorizing Empresa Portuaria Quetzal y Terminal de Contenedores Quetzal to operate as temporary customs warehouses.
Although the Superintendency of Tax Administration (SAT) has announced that it will be appealing the ruling given by the Second Administrative Appeals Chamber, the reality is that since June 28, the activities of the customs warehouses in Empresa Portuaria Quetzal (EPQ) have been suspended as well as those at the Terminal de Contenedores Quetzal (TCQ)."...The resolution orders that the SAT no longer has the customs service under its administration, which contravenes the Central American Customs Code CAUCA, therefore the Superintendency will file an appeal against the decision made by the Court."
Companies from Mexico, Colombia and France have shown interest in operating the Nicaraguan port terminal through means of a private concession.
The possibility of granting in concession the operation and maintenance of the port is something Nicaraguan entrepreneurs have been suggesting to the government for some time, since they believe that using this method, improvements could be made in the efficiency of the terminal's operations.
From July 25 to 28 representatives from the port industry in the region will be meeting in Belize at the XXXIX Port Meeting of the Central American Isthmus.
At the event, to be held at the Best Westerm Biltmore Plaza Hotel in Belize, the main discussion panels will address current issues such as the Cruise Industry, Mobility and Logistics Policy in Central America, Strengthening Environmental Port Management in Central America, Multilateral Agreement And Safety, Port Security and Protection, Gross Verified Mass (GVM), Climate Change and the Role of Women in the Port Industry, among others.
The ACP has approved the documents to tender in ten days a concession to one of the prequalified companies; PSA International Ltd, Terminal Link, Terminal Investments Limited and APM Terminals.
From a statement issued by the Panama Canal Authority:
The global relevance of companies seeking the award of a third port for container ships in the Pacific is a clear sign of the importance of Panama as maritime and logistics hub.
The companies pre-qualified to participate in the tender for the concession of a new port in Corozal are subsidiaries of the largest shipping companies such as Maersk-Denmark, MSC-Italy and CMA-CGM-France or are direct port operators, in this case the most important in the world, PSA from Singapore.
The Inter-American Development Bank has announced that it will provide a loan of $20 million to fund feasibility studies for a port in the Caribbean.
The funds provided by the entity will be used for studies needed to determine the characteristics of the area, the exact location and cost of building the infrastructure, as well as any possible environmental impact on the coast of Bluefields.
A terminal in Bilwi, Puerto Cabezas, would streamline logistics of cargo which currently comes through the ports of Limon in Costa Rica and Cortés in Honduras.
If the plans of the National Port Company (EPN) are realised, the operator of the entire logistics system that involves moving goods through Nicaragua's northern Caribbean could significantly improve their times. It will even open up more opportunities for shipping companies, since at the moment only 3 lines are operating in the Caribbean, compared to 15 in the Nicaraguan Pacific.
It is not only the port of Corozal which needs immediate promotion, there is also an urgent need to keep building port infrastructure in order to take advantage of the Canal expansion.
EDITORIAL
The opinion of entrepreneurs in the logistics sector is unanimous: the forthcoming opening of the new and expanded Panama Canal locks should be the starting point for consolidating Panama as a major logistics hub for the hemisphere.
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