Panama Relies on DP World as the Canal Expansion Work is Completed

Panama Relies on DP World as the Canal Expansion Work is Completed

DP World, the renowned ports operator, is holding talks with Panama prior to the conclusion of expansion of Panama Canal, the major trade conduit of the country.

Panama officials including the foreign minister and the vice president Isabel Saint Malo visited Dubai recently and held discussions with Emirates Airline and DP World. The country’s previous government started the talks. The discussions were mainly focused on the potential of the country to build up infrastructure that can meet the expected growth in trade volumes. This will be possible because of the widened Panama Canal.

Although Panama currently has numerous port operations, they have the ability to construct several more. Panama is keen on the model provided by DP World. Saint Malo mentioned that DP World as well as Panama is keen on following the model. Therefore, both of them can work together in terms of constructing the facilities as well as running the facilities. DP World currently manages around 65 terminals throughout the world. They also operate in Latin America, including countries like Peru, the Dominican Republic, and Argentina. The Panama Canal, after its expansion, will start operating from January 2016.

The expanded canal will reduce trade expenses, as it will enable the larger vessels having capacity of about 13,500 container units to move through the waterway. At present, the capacity is for the 5,000-unit vessels. The deadline for completion of the canal expansion work has been delayed many times. When the expansion of Panama waterways is completed, trade between Asia and North America will certainly be boosted.