Danish shipping group A.P. Moller-Maersk has reconfirmed its interest in bidding for a long-term concession to operate Panama’s Port of Balboa, while also considering port development opportunities at Corozal and Telfers. Antonio Domínguez, President of Maersk for Latin America and the Caribbean has called on the government to clarify the timetable for awarding permanent port concessions., according to an article in “La Estrella de Panama” last week.
Maersk currently operates Balboa through APM Terminals Panama under a transitional agreement authorized by the Cabinet Council in February, with a maximum duration of 18 months. Meanwhile, MSC-affiliated Terminal Investment Limited (TiL) oversees operations at Cristóbal under a comparable temporary contract. This after Panama’s Supreme Court of Justice (CSJ) ruled unconstitutional the law approving Panama Ports Company’s (PPC) concession agreement for the ports of Balboa and Cristóbal some nine months ago.
Domínguez added that APM Terminals considers the country a key hub for its operations and intends to participate when the opportunity becomes available.
Maersk Also Interested in Corozal and Telfers Port Projects
Beyond Balboa, the executive also highlighted its interest in the port developments opportunities at Corozal on the Pacific side and Telfers Island on the Atlantic side of the Panama Canal, emphasizing the group’s century-long history in Panama and its intention to maintain and strengthen that long-term presence. The Panama Canal Authority (ACP) plans to award concessions for the development of both terminals by the end of 2027, with preliminary estimates placing their combined investment at approximately US$2.6 billion.
Domínguez also discussed Maersk’s strategy, pursued since 2018, to become an integrated end-to-end logistics provider, expanding beyond maritime transport into air freight, warehousing and communication services. APM Terminals bought the Panama Canal Railway Company in the beginning of last year.
Panama’s Role in Changing Global Supply Chains & Capacity Gap Concerns
According to the executive, companies are looking for additional transport options and locations where imported goods can undergo value-added processing. Proximity to the United States, reduced transit times and access to both the Pacific and Atlantic coasts, including the Caribbean, are among their key considerations. Domínguez noted that Panama meets these requirements and has positioned itself to respond to such business needs.
Turning to Panama’s port infrastructure, he emphasized the country’s significant potential while pointing to a capacity gap following the expansion of the Panama Canal. He reiterated Maersk’s call for Panamanian authorities to advance their plans to expand port capacity, stressing that existing infrastructure does not provide sufficient capacity to meet demand.
La Estrella de Panama: Maersk ratifica su interés de operar de forma permanente los puertos en Panamá
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