MARKET ANALYSISPanama’s logistic sector In 2016 the extended Panama Canal will have made way for larger and more vessels, promoting economies of scale. That’s great. But how to attract them when maritime activity drops with 2% a year, shipping companies seek lower costs and competition from Suez Canal and US is high? There is only one way and Panama is already taking action. To be the most competitive transport route the country is transforming itself into a maritime and logistics hub of the Americas. And Panama is not doing it alone. The Inter-American Development Bank (IDB) released a dense blueprint on how to organize a national logistic system with value added services. Their recommendations are taking form in everyday life. Panama created a Logistics Cabinet directly under the Presidency and maritime organizations like the Panama Canal Authority are issuing tenders for logistic megaprojects. The port of Corozal is in full stream development, as is a Roll-on Roll-off port on the Pacific entrance of the canal.
More on the developemnt and opportunities in this sector can be read in this comprehensive report by the Embassy of The Netherlands to Panama.