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5d ago

Panama Courts Global Bids for Two New Canal Ports as China Joins the Field

The canal authority pledges a neutral, equal-footing tender under the Neutrality Treaty.

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China will be among parties bidding to build two new ports on the Panama Canal
A Taiwanese cargo ship sails out of the Panama Canal on the Pacific side
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Overview

  • The canal authority has begun meetings with prospective bidders and aims to award the two concessions in late 2026, with operations starting in 2029.
  • China has signaled interest alongside COSCO, OOCL, PSA International, Evergreen, Hapag-Lloyd, Maersk and CMA Terminals.
  • The planned Corozal (Pacific) and Telfers (Atlantic) terminals would lift annual capacity from 9.5 million to 15 million TEUs, with 20-year operating rights for winners.
  • The projects anchor a wider $8.5 billion modernization that also pursues a cross-country gas pipeline and the Indio Río reservoir to secure water supply.
  • The bidding proceeds as CK Hutchison’s Balboa and Cristóbal concessions await transfer to a BlackRock-led consortium under a March agreement that has not closed.