The Canal Authority seeks global partners to develop two $2.6 billion container hubs, with an estimated impact of up to 0.8% of Panamanian GDP
The Panama Canal Authority (Acp) has initiated a global consultation process with major players in the maritime industry to identify strategic partners in the development of new port terminals on both sides of the canal — Atlantic and Pacific.
The first meeting was attended by leading operators and shipping companies, including APM Terminals, Cma Cgm, Dp World, Psa International, Mol, Msc Maersk, Hapag Lloyd, Cosco, One and Evergreen. The discussion will lead to the drafting of market and feasibility studies, followed by a competitive concessionaire selection process, which is expected to be concluded in the fourth quarter of 2026.
The project, part of the Canal’s 2025–2035 strategic plan, involves a total investment of $2.6 billion and aims to increase container transshipment capacity by 5 million TEUs per year. The estimated impact on the Panamanian economy is between 0.4% and 0.8% of GDP, with the creation of approximately 8,100 jobs during the construction phase and 9,000 during the operational phase.
“The demand for port infrastructure is enormous,” said RicaurteVásquez, the Canal Administrator, announcing that the new terminals will be equipped with state-of-the-art lifting technologies to compete with regional hubs like Cartagena.
The initiative is part of an $8.5 billion investment plan over seven years, which also includes a new water reservoir and a 76 km pipeline for the transport of propane, butane and ethane, with a capacity of 2.5 million barrels per day, designed to ease maritime traffic and reduce water consumption.
The project comes in a tense geopolitical context, following threats from US President Donald Trump to “take control” of the Canal in response to Chinese influence in the region. Concurrently, CK Hutchison is reportedly trying to sell its two Panamanian ports in a $22.8 billion deal with BlackRock and MSC, currently suspended due to objections from Beijing.
After the difficulties related to the drought in the 2023–2024 period, the Canal is now experiencing a recovery, with transits and revenues growing thanks to the rush for US imports ahead of new tariffs. However, authorities forecast declining revenues in 2026, around $4.4 billion, compared to the $5 billion expected this year.
“It is time for Panama to reaffirm its centrality in world trade,” concluded Vásquez.
