The Panama Canal Authority has published the prequalification tenders (RFQs) for two container port terminals ($2.6 B. combined) and the development of a 76 km. interoceanic gas pipeline ($2 B). A key milestone in the selection procedure of future concessionaires. The documents define the technical, financial, and legal requirements that potential bidders must meet.
New Container Port Terminals: Corozal & Telfers
This projects involves the development of two container port terminals, one on the Pacific coast (Corozal) and one on the Atlantic coast (Telfers). It includes the design and engineering, construction and operation, and maintenance of the terminals, with the possibility of separate concession for each terminal..
The project aims to increase national transshipment capacity to 5–6 million TEUs annually. Due to capacity constraints, it is needed to expand port capacity to sustain Panama’s role as a global logistics hub. The terminals should be operated on a non-exclusive basis with open, equal access for all shipping lines and have the possibility of servicing multiple Neopanamax vessels at the same time.
Energy Corridor Gas Pipeline
The project includes the design, engineering, operation, maintenance, and commercial management of a 76 km. gas pipeline for the transport of propane, butane, and ethane, with an estimated capacity of up to 2.5 million barrels per day. The pipeline will connect the Atlantic & Pacific Coasts and includes marine and onshore terminals on both coasts, located in Black Tank (Atlantic) and Farfán (Pacific),
Both port developments as well as the energy corridor are part of the Panama Canal’s Strategic Vision 2025-2035 (Vision 3.0), a plan that marks the shift from a strictly canal-based operation to an integrated model of logistics, energy, and infrastructure.
Market consultation meetings were held in autumn last year with maritime industry companies (such as APM Terminals, Terminal Investment Limited (MSC) and ONE) and leading global energy businesses to gauge interest & collect technical feedback.
Main Requirements for bidders
Port Terminals
- Proponents must have been terminal operators for the past eight years.
- Developed at least one container terminal project with a capacity of 1 million TEUs within the past ten years.
- Bonus if operated at least six terminals in the last calendar year with a combined volume of at least 6 million TEUs.
- Gross revenues of $1.2 billion during the last year or belong to a group with revenues of $10 billion.
- net debt-to-equity ratio of 2.0 or less.
Pipeline project
- at least five continuous years of operation of a comparable facility, such as an LNG marine terminal with two or more berths, an onshore terminal with a minimum capacity of one million barrels, or an LNG pipeline at least 160 km long.
- at least one comparable project within the last 15 years and submit sustainability and occupational health and safety performance reports for the last three years.
- accumulated gross revenues of $2.5 billion or more and a minimum net worth of $7.5 billion over the past three years.
View the prequalification documents for the full requirements.
Next steps
The administrator of the Panama Canal, Ricuarte Vasquez, stated that once companies formalize their interest and the prequalification phase is complete, the Panama Canal Authority (ACP) will hold a series of meetings with the prequalified participants to finalize the content of the final bidding documents, which he expects around mid-year (August).
According to him, the publication of the final bidding documents to the awarding of the contract—could take between five and six months, with the awarding of the contract expected in early 2027.
News release of the Panama Canal
Link to the prequalification tender documents
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