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Posts Tagged ‘shipping’

Panama has 22% of the World´s Ships Flying its Flag
Machine translated from the original article in La Prensa:

Wilfredo Jordán S.
wjordan@prensa.com
http://mensual.prensa.com/mensual/contenido/2009/08/18/hoy/Negocios/1891335.asp

In 2004 there were 6061 ships registered by the Panama. Now, in agreement with the official registries, there are 8661 ships.

Between 2004 and what goes of 2009, Panama registered 2600 ships and about 40 million tons of gross registry, that means a growth of 41% in this period. At the closing of 2004, 6061 ships registered by Panama with 168 million tons of gross registry existed. At the moment the country has 8661 ships with 202,979,000 tons. These numbers represent 22% of the world-wide marine fleet, in comparison with the main competitors of Panama: Liberia, that has a registry of 2639 ships and Marshall Island, with a count with 1612. “We have like the Government, the commitment that the income from this institution gets to the people who need it”, the administrator of the AMP, Linares Robert commented. The approximated net income of the AMP by the registry of ships calculate in 80 million dollars a year. In 2004 this income was 52 million dollars and in 2008 it went up to around the 78 million dollars. In indirect income, it is calculated that the registry of ships generates more than 100 million dollars a year. If the smaller ships of 100 tons are included, Panama has more than thousand registries.

Ships Registered under the Panamanian Flag

Ships Registered under the Panamanian Flag

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We are usually not a news site but since our family is very closely connected to Japan and the Japanese community here in Panama, we decided to post this important bulletin related to both Panama and Japan from the Daily Yomiuri in Tokyo. Because of Panama´s importance in World Trade and strategic position not only for shipping, the Japanese have historically been very generous with both assistance and funding to Panama.

The Daily Yomiuri is one of Japan´s English news sites and a great way to keep up with what is happening in Asia.

Japanese Group to Finance Panama Canal Project

The Yomiuri Shimbun – Japanese financial institutions have agreed in principle with the Panama Canal Authority to provide 800 million dollars for a project to widen the canal to alleviate congestion in it, it was learned Saturday.

According to sources, of the 800 million dollars, the Japan Finance Corporation’s Japan Bank for International Cooperation will provide 400 million dollars, and Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corp. and others will provide the remaining 400 million dollars through joint financing.

The Panama Canal is a major artery connecting the Atlantic Ocean to the Pacific Ocean. However, the canal is chronically congested, causing a wait time of several days for ocean vessels wanting to enter it.

To help solve the problem, excavation of trenches along both sides of the 80-kilometer-long canal began in 2007, to be completed in 2014, the 100th anniversary of the opening of the canal.

The Panama Canal Authority plans to procure 2.3 billion dollars of the total project cost of 5.25 billion dollars from overseas, from such sources as Japanese financial institutions and the Inter-American Development Bank.

The Japanese financial institutions determined they would be able to recoup their loans as the Panama Canal Authority has begun raising the canal’s tolls, according to the JBIC’s Americas Finance Department.

Japan is the third most frequent user of the canal, following the United States and China. A consortium of Taisei Corp. and Mitsubishi Corp., both Japanese companies, and U.S.-based Bechtel Corp. has announced its plan to undertake the widening project.

With its completion, the shipping volume will double in the canal, and more types of vessels will be able to use it, including mid-size oil tankers and liquefied natural gas carriers in addition to the current container vessels.

The project is also expected to drastically reduce the time it takes to transport oil from Latin American countries, which is usually transported via the Cape of Good Hope off South Africa.

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waiting for mail

Remember when you were a child and waiting for a package to arrive? And just when they told you it would arrive, it did? In Panama that doesn´t happen. You had better be prepared for a long wait.

With the Panama Postal Service (what is that word service doing in there?) some things never show up, and some take months to arrive. I once had a small Christmas box sent from Canada at an exorbitant cost and it arrived finally over 6 months later. Things are usually better if you use a mail service in Panama. I finally started and now use PakYa Panama.

I recently signed up for the services of Pakya Panama and have been very pleased. Although I have not ordered much from the US, nor anything large, everything arrived quickly and efficiently. When I walk into the office I am greeted by Melodye, an American and she helps with whatever questions I may have. They respond to my emails too.

There is no monthly charge, they charge by the pound ($2) and add customs charges.

When you start to use their service, you must let them know what is coming and get precise details from them on where and how to send the package or mail.

Ask for Melodye.

Here are their details:
PakYa Panama
Located close to MacDonalds on Transismica. Go straight through on Via Brasil up the hill across Transismica, it is the second gate (grey) on the right, office is at the back of the parking lot.
Edificio Islas Baleares #2,
Calle El Paical, Panama City
Tel: 236-1728, 6614-3632
Pakya Panama
web: http://www.pakyapanama.com
email: pty600@yahoo.com, info@pakyapanama.com

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