The Panama Canal Authority is moving forward with a significant expansion of its logistics services. Administrator Ricaurte Vásquez confirmed the launch of a prequalification process for two new container terminals and a major natural gas pipeline project. These initiatives aim to solidify Panama’s role as a global maritime and energy hub.
Officials published the formal prequalification documents last week following an initial international market outreach. The process will identify qualified firms with the technical and financial capacity to undertake the large-scale developments. Vásquez stated the goal is to secure world-class operators for the infrastructure.
“The first step was to go to the market to see who is formally interested. In October we had conversations and several interested firms appeared. We are looking for port operators,” said Panama Canal Administrator Ricaurte Vásquez. [Translated from Spanish]
Interested companies must now submit their qualifications for review. The Panama Canal Authority expects to begin detailed negotiations with prequalified bidders by mid-year. A final tender document is projected for completion around August.
Strategic Expansion of Logistics Capacity
The centerpiece of the new plan involves constructing two new container transshipment terminals. One terminal will be located on the Atlantic side of the isthmus, with its counterpart on the Pacific coast. This dual-coast development is designed to dramatically increase Panama’s national transshipment capacity by several million tons.
Such an expansion directly strengthens the country’s competitive position. It transforms Panama from a pure transit point into a comprehensive logistics nexus. The new terminals will allow for the efficient transfer of cargo between large ocean-going vessels and smaller feeder ships serving regional ports.
“We are in the stage of preparing the final tender document. We hope to have it ready by the middle of this year, around the month of August,” Vásquez added regarding the timeline. [Translated from Spanish]
Alongside the port projects, the authority is advancing a separate natural gas pipeline initiative. Details on the pipeline’s specific route and capacity remain under development. Combined, these projects represent a multi-billion dollar investment in Panama’s infrastructure future.
Pathway to a 2027 Final Award
The entire selection and bidding process is expected to span five to six months. Vásquez indicated the authority targets a final project award at the beginning of 2027. This timeline allows for thorough due diligence and contract negotiations with potential partners.
Market soundings conducted last October revealed strong initial interest from international firms. The published prequalification criteria will now separate serious contenders from the broader field. This phased approach ensures only capable entities progress to the final bidding stage.
Developing a new container transshipment terminal requires expertise in modern port operations and significant capital. The selected operators will need to integrate seamlessly with the existing operations of the Panama Canal. The authority views this as a strategic partnership rather than a simple construction contract.
Successfully adding this capacity would handle growing global trade volumes. It also provides a buffer for the maritime industry amid fluctuating water levels in the canal. These projects diversify Panama’s economic foundation beyond pure transit tolls.
Panama’s geographic advantage remains its primary asset. The new infrastructure seeks to fully leverage that position for the 21st century. Finalizing the prequalification phase represents the first concrete step in a long-term national strategy.