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☆ Panama's Top Court Rejects Ex-President Martinelli's Appeal to Annul Prison Sentence
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: 1 min

PANAMA CITY (Reuters) - Panama's top court rejected former president and current presidential candidate Ricardo Martinelli's appeal to annul a 10-year prison sentence, a court official said on Friday, casting doubt on Martinelli's ability to run in the May election. Martinelli was sentenced to a 128-month prison term last year for money laundering for his role in a case known as "New Business," which alleges public funds were used to buy a media conglomerate and give him a majority stake. Authorities have not issued a statement on his candidacy, but Panama's constitution bars from the presidency anyone condemned to a prison sentence of five years or more. Martinelli, a multimillionaire supermarket magnate, held office from 2009 to 2014. (Reporting by Elida Moreno and Valentine Hilaire; Editing by Sarah Morland)

Persons: Ricardo Martinelli's, Martinelli, Elida Moreno, Valentine Hilaire, Sarah Morland Organizations: PANAMA CITY, Authorities Locations: PANAMA

☆ Costa Rica Arrests Ex-Panama Presidential Hopeful Tied to Money Laundering Case
▼ + stars: | 2023-12-05 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +2 min

SAN JOSE/PANAMA CITY (Reuters) - Costa Rican police on Tuesday arrested Panamanian businessman and former presidential hopeful David Ochy on charges of fraud and money laundering, judicial authorities said on Tuesday, following an Interpol request. Ochy was wanted by Interpol for being central to a case linked to former Panamanian President Ricardo Martinelli, who was in July sentenced to over a decade in prison for money laundering. Ochy enrolled as a presidential pre-candidate for Martinelli's Realizing Goals party ahead of the 2024 vote, which protected him from facing trial in the Martinelli case last summer. Ochy faces criminal charges for money laundering and using a fraudulent Costa Rican identity card, Zuniga said. Carlo Diaz, who heads Costa Rica's state attorney's office, said he could be extradited to neighboring Panama though he must first face criminal proceedings in Costa Rica and could even serve a prison sentence there.

Persons: David Ochy, Ochy, Ricardo Martinelli, Martinelli, Randall Zuniga, Zuniga, Carlo Diaz, Javier Caraballo, Alvaro Murillo, Elida Moreno, Sarah Morland, Sandra Maler Organizations: JOSE, PANAMA CITY, Tuesday, Interpol, Central American Locations: PANAMA, Costa Rican, Panamanian, Costa Rica, Rican, Caribbean, Pococi, Costa Rica's, Panama, San Jose, Panama City

☆ Exclusive: Panama may slash GDP growth view due to suspension of First Quantum mine
▼ + stars: | 2023-12-04 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. Some experts calculate Panama would have to pay at least $50 billion if it loses the case, equivalent to nearly 70% of GDP. Ahead of the supreme court ruling, S&P revised Panama's outlook to negative from stable on potential risks to investor confidence and economic growth if the contract was found invalid. For First Quantum, the developments in Panama could be a repeat of its experience in the Democratic Republic Of Congo. The miner exited the African nation in 2012 after its mining contract was cancelled.

Persons: Hernan Arboleda, Laurentino Cortizo, Panamanians, Arboleda, Elida Moreno, Valentine Hilaire, Anthony Esposito, Edwina Gibbs Organizations: Minerals, REUTERS, Aris Mart, PANAMA CITY, Reuters, Gross, Panama, JPMorgan, Democratic, Thomson Locations: Panama, Donoso, PANAMA, Democratic Republic Of Congo

☆ First Quantum CEO: long-term sustainability uncertain if Panama operations end
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +1 min

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. The company has notified buyers it will not be able to meet agreements due to force majeure, Pascall added. Panama's top court issued a ruling deeming First Quantum's contract with the government to operate a key copper mine unconstitutional. The Canadian miner said on Friday it has initiated arbitration against Panama, with Pascall noting the company still does not know the amount it will be asking from the country during the process. Reporting by Elida Moreno and Valentine Hilaire; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Tristan Pascall, majeure, Pascall, Laurentino Cortizo, Elida Moreno, Valentine Hilaire, Brendan O'Boyle Organizations: Minerals, REUTERS, Aris, Panamanian, La Prensa, Panama, Thomson Locations: Panama, Donoso

☆ Panama trade minister resigns after mining contract backlash
▼ + stars: | 2023-11-30 | by ( Elida Moreno | ) www.reuters.com time to read: +1 min

PANAMA CITY, Nov 30 (Reuters) - Panama's Trade Minister Federico Alfaro announced his resignation on Thursday days after the country's top court ruled a contract between the government and Canadian miner First Quantum < FM.TO> was unconstitutional. The Central American country's trade ministry led negotiations on a contract between the government and First Quantum to operate a key copper mine, which opponents have deemed as too generous to the miner. In a resignation letter addressed to the president and shared on social media, Alfaro mentioned the contract, which generated months of protest throughout Panama, as well as the court ruling. Cortizo announced on Tuesday he will follow through with First Quantum's mine shutdown once the court's ruling is published in the country's official gazette, which has not yet happened. Incoming trade minister Rivera said in a separate public statement the ministry is evaluating actions to comply with the court's ruling and will start coordination talks with labor and environmental authorities.

Persons: Federico Alfaro, Alfaro, Laurentino Cortizo, Jorge Rivera, Cortizo, Rivera, Eli Moreno, Brendan O'Boyle, Isabel Woodford Organizations: PANAMA CITY, Panama's Trade, Central American, Thomson Locations: PANAMA, Panama, Lincoln

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. The comments are the first by the company on the future of the Cobre Panama mine's ownership since Tuesday's court ruling. Panama has seen unprecedented public protests after the government signed a new contract with First Quantum for its Cobre Panama mine. MacWilliam told the conference that given the events in Panama, it remains unclear when Cobre Panama will be able to resume operations. The mine closure also has consequences for the Central American nation, as Cobre Panama contributes about 5% to Panama's economy.

Persons: Laurentino Cortizo, Ryan MacWilliam, MacWilliam, Divya Rajagopal, Elida Moreno, Denny Thomas, Chizu Nomiyama, Nick Zieminski Organizations: Minerals, REUTERS, Aris, Rights TORONTO, Quantum, Scotiabank, Reuters, Jiangxi Copper Co, Central, Thomson Locations: Panama, Donoso, Canadian, Jiangxi, Central American, Lincoln

"We have decided to unanimously declare unconstitutional the entire law 406 of October 20, 2023," Supreme Court President Maria Eugenia Lopez said. First Quantum acknowledged the ruling and affirmed its "unwavering commitment to regulatory compliance in all aspects of our operations within the country." Panama President Laurentino Cortizo said the country will abide by the court ruling. For First Quantum, the Panama ruling would be a repeat of its decade-old experience in the Democratic Republic Of Congo. The company exited DRC in 2012 after it filed an arbitration procedure against the African country for cancelling its mining contract.

Persons: Aris Martinez, Maria Eugenia Lopez, Quantum, Laurentino Cortizo, Morgan, Ricardo Martinelli, Leonardo Di Caprio, Elida Moreno, Valentine Hilaire, Natalia Siniawski, Denny Thomas, Chizu Nomiyama, Mark Porter Organizations: Minerals, REUTERS, PANAMA CITY, Reuters, Panama, London Metal Exchange, Central, RBC, Democratic, Natural Resources Corporation PLC, Cobre, Thomson Locations: Panama's, Panama, Panama City, PANAMA, Central American, Democratic Republic Of Congo, Hollywood, Cobre Panama

☆ Top Panama court rules First Quantum mining contract unconstitutional
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: 1 min

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo Acquire Licensing RightsPANAMA CITY, Nov 28 (Reuters) - Canadian miner First Quantum's contract to operate a lucrative copper mine in Panama is unconstitutional, Panama's top court said in a ruling made public on Tuesday. Challenges against the company's new contract, which was approved in October, piled up in court following public protests against the deal. Reporting by Elida Moreno Additional reporting by Valentine Hilaire and Natalia SiniawskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Elida Moreno, Valentine Hilaire, Natalia Siniawski Organizations: Minerals, REUTERS, Aris, PANAMA CITY, Thomson Locations: Panama, Donoso, PANAMA

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo Acquire Licensing RightsNov 26 (Reuters) - Eight Panama workers of Canadian miner First Quantum were injured when protesters hurled rocks at a bus transporting them, a union leader said on Sunday, as tensions flared at the company's lucrative mine in the Central American country. Workers were injured as protesters smashed the bus' glass windows when they were leaving the mine located in Panama's Cocle province, said union leader Michael Camacho. The company's local unit Minera Panama said in a statement that one worker and some contractors were attacked in a violent incident. "The affected worker is in stable condition and currently receiving medical attention and emotional support," the company statement said.

Persons: Michael Camacho, Valentine Hilaire, Elida Moreno, Josie Kao Organizations: Minerals, REUTERS, Aris, Central American, Workers, Reuters, Thomson Locations: Panama, Donoso, Panama's Cocle, Panama's

☆ Panama port blockade keeps supplies from First Quantum mine, company says
▼ + stars: | 2023-11-17 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. Protests have in recent weeks escalated against the miner's contract for a major copper mine operated by the company's local unit, known as Minera Panama. "The illegal actions carried out by small vessels in the port of Punta Rincon have affected the delivery of supplies that are required by Minera Panama, including for energy generation," the company said. Earlier this week, First Quantum reported that the protests blocking the port had reduced ore processing at its Cobre Panama mine, the first sign that the mine's output was at risk. On Thursday, the union for Minera Panama said it reached agreements with the company to ensure worker pay as protests kept some workers from reaching their jobs.

Persons: Senan, Eli Moreno, Brendan O'Boyle, Kylie Madry Organizations: Minerals, REUTERS, Aris, PANAMA CITY, Reuters, Minera, Aeronaval Service, CSL, Cobre, Thomson Locations: Panama, Donoso, PANAMA, Punta Rincon, Minera Panama, Panamanian, Cobre Panama

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. Two Panamanian prosecutors have deemed the contract unconstitutional after examining legal challenges submitted to the court. First Quantum did not reply to a request for comment on the future of the contract pending court proceedings. Panama's mining chamber has urged against canceling the contract, saying First Quantum could sue Panama for at least $50 billion. Another lawyer said the court could also move to declare parts of the contract unconstitutional, which would not annul it completely.

Persons: Maritza Cedeno, Ariel Corbetti, Corbetti, Juan Carlos Arauz, Arauz, Victor Baker, Valentine Hilaire, Divya Rajagopal, Elida Moreno, Denny Thomas, Marguerita Choy Organizations: Minerals, REUTERS, Aris, Jiangxi Copper Co, Reuters, Panama, Thomson Locations: Panama, Donoso, Jiangxi, China

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. First Quantum on Tuesday reaffirmed its commitment to the rule of law with the objective of benefiting Panama. First Quantum and its local unit Minera Panama declined to comment further. A decision to cancel the Cobre Panama mine's contract could slow Panama's GDP growth from an anticipated 6% in 2023 to just 1% without the mine in operation on an annualized basis. The odds of Panama losing its investment-grade rating would rise significantly if the contract is revoked, J.P Morgan warned on Tuesday.

Persons: Laurentino, J.P Morgan, Adriana Linares, Jackie Przybylowski, Michael Camacho, Frank De Lima, Juan Diego Vasquez, Edison Broce, Divya Rajagopal, Valentine Hilaire, Elida Moreno, Steve Scherer, Denny Thomas, Rod Nickel Organizations: Minerals, REUTERS, Aris, Quantum Minerals, Panama, Canada's Global Affairs, Reuters, Bank of Montreal, Finance, Economy, Independent, Thomson Locations: Panama, Donoso, Vancouver, Canada, Toronto

Panama's President Laurentino Cortizo Cohen addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. "I've respectfully listened to those who oppose the contract with Minera Panama," Cortizo said, using the name of First Quantum's local unit. Neither First Quantum nor Minera Panama immediately responded to requests for comment. On Saturday, Minera Panama voiced concern after protesters on boats approached the international Punta Rincon port where it operates. After Cortizo's announcement, Panama's main workers' union said its members will keep protesting in the streets until the contract is annulled.

Persons: Laurentino Cortizo Cohen, Eduardo Munoz, Laurentino Cortizo, Cortizo, I've, Minera, Valentine Hilaire, Elida Moreno, Daina Beth Solomon, Christian Schmollinger, Simon Cameron, Moore Organizations: General Assembly, REUTERS, PANAMA CITY, Sunday Panama, Minera, Central, Protesters, Critics, Punta Rincon, Thomson Locations: New York City, U.S, PANAMA, Panama, Central American, Minera Panama

☆ Panama protesters detained in mine contract clashes, police injured
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo Acquire Licensing RightsCompanies First Quantum Minerals Ltd FollowPANAMA CITY, Oct 24 (Reuters) - Police arrested nearly 50 protesters in Panama in confrontations over a new government-approved contract for a major copper mine, officials said on Tuesday, adding that five police officers were injured in the clashes. Last week, lawmakers gave final approval for the extended concession covering the Cobre Panama mine operated by Canada's First Quantum (FM.TO). Some locals and civic organizations have opposed the contract due largely to concerns about the mine's environmental impact. The police noted two officers were wounded by gunshots on Monday night in Panama City, while three others where beaten in a street blockade in Chiriqui.

Persons: Laurentino Cortizo, Elida Moreno, Sarah Morland, David Alire Garcia, Rod Nickel Organizations: Minerals, REUTERS, Aris, Quantum Minerals, PANAMA CITY, Police, Pan, Thomson Locations: Panama, Donoso, Colon, Chiriqui, Central America, Panama City

☆ As US and Mexico seek more migrant deportation flights, Venezuelans press on
▼ + stars: | 2023-10-06 | by ( Elida Moreno | ) www.reuters.com time to read: +3 min

On Thursday, the U.S. said it was restarting deportations of Venezuelans who cross the U.S.-Mexico border unlawfully. Mexico, on Friday, said it was seeking to return migrants to Brazil, Colombia, Cuba, Nicaragua and Venezuela. A record of 417,000 migrants have crossed the Darien Gap this year, more than double the number in all of last year. "Crossing the Darien is hell," said Panama President Laurentino Crotizo in a statement, after touring the area via plane with Costa Rica counterpart Rodrigo Chaves. In the last three weeks, more than 27,000 migrants have been "persuaded to get down from trains," INM said.

Persons: Laurentino Cortizo, Rodrigo Chaves, Lajas, Sherly, Kelvin Romero, Laurentino Crotizo, Ana Cordova, INM, Elida Moreno, Valentine Hilare, Beth Solomon, Stephen Eisenhammer, Sandra Maler Organizations: Costa Rica, REUTERS Acquire, Migration Institute, Ore, Thomson Locations: Panama, Costa, Darien province, U.S, Mexico, Colombia, Venezuela, Brazil, Cuba, Nicaragua, Darien, Costa Rica, Venezuelan, Meteti, Mexico City

☆ Panama Canal trims vessel passage quota again to deal with severe drought
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. The Panama Canal Authority (ACP) in recent months has imposed various passage restrictions to conserve water, including cutting vessel draft and daily passage authorizations, which are normally 36 per day. The restrictions have generated long queues of waiting vessels, although the canal administration said Friday that levels were normal. The effects have led the canal to estimate a reduction in revenues of up to $200 million by 2024. Reporting by Elida Moreno; Editing by Drazen Jorgic and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Aris Martinez, Elida Moreno, Drazen Jorgic, Leslie Adler Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Panama Canal Authority, ACP, Thomson Locations: Cocoli, Panama, Panama City, PANAMA

☆ Number of migrants crossing Panama's Darien Gap surpasses 400,000 to record high
▼ + stars: | 2023-09-29 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

The year-to-date figure of 402,300 migrants is almost double the number for the whole of 2022. The United Nations had estimated in April that the number of migrants for the entire year would be 400,000. Most of the migrants traversing the dangerous stretch of jungle are Venezuelans, with others from Ecuador, Haiti and other countries, Panama's security ministry has said. These measures follow a two-month program launched in April by the United States, Panama and Colombia to tackle undocumented immigration. Some African and Cuban migrants and asylum seekers heading to the United States told Reuters they were flying into Nicaragua to bypass the perils of the Darien Gap.

Persons: Adri, Rodrigo Chaves, Biden, Elida Moreno, Valentine Hilaire, Miral Organizations: REUTERS, PANAMA CITY, United Nations, Reuters, Thomson Locations: U.S, Acandi, Colombia, PANAMA, Panama, United States, Ecuador, Haiti, Costa Rica, Darien, Mexico, Nicaragua

☆ DNA remnants found in fossil of 6 million year old turtle
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +3 min

Researchers excavate the 6 million year old fossil remains of a sea turtle of the genus Lepidochelys near La Pina along the Caribbean coast of Panama in this handout photograph taken in 2015 and obtained by Reuters on September 28, 2023. Cadena said the only older vertebrate fossils than the newly described turtle to have been found with similar DNA remnants were of two dinosaurs - Tyrannosaurus, which lived about 66 million years ago, and Brachylophosaurus, which lived about 78 million years ago. Cadena said DNA remnants also have been reported in insects dating to tens of millions of years ago. The turtle is from the same genus - Lepidochelys - as two of the world's seven living species of sea turtles - the Kemp's ridley, the world's smallest sea turtle, and the olive ridley, Cadena said. "Each fossil, each fossil site has specific conditions of preservation that in some cases could have favored preservation of original biomolecular remains such as proteins and DNA," Cadena said.

Persons: Carlos de Gracia, today's Kemp's ridley, Edwin Cadena, Cadena, ridley, Kemp's ridley, Will Dunham, Elida Moreno, Rosalba O'Brien Organizations: Reuters, REUTERS Acquire, Universidad del Rosario, Smithsonian Tropical Research, Pacific, Thomson Locations: La Pina, Panama, Handout, Bogota, Gulf of Mexico, Washington

☆ Costa Rica president to visit Panama amid migration crisis
▼ + stars: | 2023-09-24 | by ( Elida Moreno | ) www.reuters.com time to read: +1 min

Costa Rica President Rodrigo Chaves Robles speaks during his joint statement with French President Emmanuel Macron (not pictured) at the Elysee Palace in Paris, France, 24 March 2023. Yoan Valat/Pool via REUTERS/File Photo Acquire Licensing RightsPANAMA CITY, Sept 23 (Reuters) - Costa Rica's President Rodrigo Chaves will visit Panama's Darien Gap in early October in an effort to contain a migrant crisis, both countries said on Saturday. Some 390,000 people have crossed to Panama from Colombia, traversing the Darien Gap, between January and September. Most of them are Venezuelans, with others from Ecuador, Haiti and other countries, according to Panama's Ministry of Security. Reporting by Elida Moreno in Panama City; Writing by Oliver Griffin; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Rodrigo Chaves Robles, Emmanuel Macron, Yoan, Costa, Rodrigo Chaves, Public Security Juan Pino, Mario Zamora, Elida Moreno, Oliver Griffin, William Mallard Organizations: Costa Rica, PANAMA CITY, Panama's, Public Security, Costa, Panama's Ministry of Security, Thomson Locations: Costa, Paris, France, PANAMA, Darien, Costa Rican, United States, Panama, Colombia, Ecuador, Haiti, Panama City

☆ Costa Rica President to Visit Panama Amid Migration Crisis
▼ + stars: | 2023-09-23 | by ( Sept. | At P.M. | ) www.usnews.com time to read: 1 min

By Elida MorenoPANAMA CITY (Reuters) - Costa Rica's President Rodrigo Chaves will visit Panama's Darien Gap in early October in an effort to contain a migrant crisis, both countries said on Saturday. Panama's Minister of Public Security Juan Pino and his Costa Rican counterpart, Mario Zamora, on Saturday visited communities in the dangerous stretch of jungle, where thousands of migrants pass each day on their way toward the United States. Some 390,000 people have crossed to Panama from Colombia, traversing the Darien Gap, between January and September. Most of them are Venezuelans, with others from Ecuador, Haiti and other countries, according to Panama's Ministry of Security. (Reporting by Elida Moreno in Panama City; Writing by Oliver Griffin; Editing by William Mallard)

Persons: Elida Moreno, Costa, Rodrigo Chaves, Public Security Juan Pino, Mario Zamora, Oliver Griffin, William Mallard Organizations: Elida Moreno PANAMA CITY, Panama's, Public Security, Costa, Panama's Ministry of Security Locations: Darien, Costa Rican, United States, Panama, Colombia, Ecuador, Haiti, Panama City

☆ Panama announces new measures to curb record migration through Darien Gap
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

Deportation flights for irregular migrants with criminal records are set to double with the help of the country's security ministry, Panama's immigration institute chief Samira Gozaine said. Official data shows some 352,000 people have crossed the dangerous stretch this year by Sept. 8, already surpassing the record high of nearly 250,000 seen for all of 2022. Panama will also increase financial thresholds at its checkpoints, requiring people expecting to stay 90 days to show proof of funds of at least $1,000, rather than the $500 it previously expected. The United Nations expects crossings through the jungle to surpass 400,000 this year. Reporting by Elida Moreno: Editing by Sarah MorlandOur Standards: The Thomson Reuters Trust Principles.

Persons: Samira Gozaine, Elida Moreno, Sarah Morland Organizations: Nicanor Air Base, PANAMA CITY, Authorities, United Nations, Thomson Locations: Choco, Panamanian, Colombia, Darien, Panama, PANAMA

☆ Panama Canal water levels at historic lows, restrictions to remain
▼ + stars: | 2023-09-06 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

Bahamian LOS ANGELES SPIRIT crude oil tanker is pictured during its transit in the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama March 10, 2023. The authority that manages the canal added in a statement that this week's ship traffic represents a "normal" level for this season. It noted that a month before the end of its 2023 fiscal year, the canal's total vessel crossings already total nearly 800 more that what the canal authority's budget had forecast. Each vessel passing through the 50-mile (80-km) trans-oceanic waterway uses some 51 million gallons (193 million litres) of water from the lake. They argue that a potential early start to Panama's dry season and hotter-than-average temperatures could increase evaporation and result in near-record low water levels by April.

Persons: Aris Martinez, Eli Moreno, Brendan O'Boyle, Marianna Parraga, David Alire Garcia, Michael Perry Organizations: REUTERS, Aris, PANAMA CITY, Pacific, Thomson Locations: Cocoli, Panama, Panama City, PANAMA

The Liberian MSC UNITED VIII container ship transits in the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama March 10, 2023. The Panama Canal Authority last week opened two additional slots per day for vessels without booking to transit to help clear bottlenecks on both sides of the interoceanic corridor. As of Tuesday, 125 booked and non-booked vessels were waiting to pass, down from more than 160 ships two weeks ago, according to official numbers. However, the average wait time for vessels to pass has risen to between 10 and 11 days this month, from 6-7 days last month. The waiting surpasses 17 days for cargo vessels and liquefied petroleum gas carriers, and is almost 13 days for tankers.

Persons: Aris Martinez, Gustavo Petro, Andres Manuel Lopez Obrador, Abe Eshkenazi, Elida Moreno, Marianna Parraga, Marguerita Choy Organizations: Liberian MSC UNITED, REUTERS, PANAMA CITY, Panama Canal Authority, Reuters, Tuesday, Panama, U.S, U.S ., Association for Supply Chain Management, Thomson Locations: Cocoli, Panama, Panama City, PANAMA, Asia, South America, Europe, China, U.S . West Coast, Chicago, Houston

[1/2] Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. The Panama Canal Authority has reduced maximum ship weights and daily ship crossings in a bid to conserve water. Container ships are the most common users of the Panama Canal and transport more than 40% of consumer goods traded between Northeast Asia and the U.S. East Coast. Some shipping executives are bracing for more reductions later this year, noting that in 2020 a less severe drought prompted canal operators to reduce crossings to 27 per day. "The Panama Canal is just the latest example."

Persons: Aris Martinez, Max, Drew Lerner, Peter Sand, Steve Ferreira, STRI's Steven Paton, Paton, Brian Bourke, Lisa Baertlein, Marianna Parraga, Elida Moreno, Louise Breusch Rasmussen, Deepa Babington Organizations: Monrovia NSU CHALLENGER, REUTERS, ANGELES, Evergreen Marine, Pacific, Panama Canal Authority, Northeast, U.S ., Smithsonian Tropical Research, El Nino, Central American, Canal Authority, SEKO Logistics, Thomson Locations: Cocoli, Panama, Panama City, HOUSTON, China, U.S, Northeast Asia, U.S . East Coast . U.S, United States, Chile, Brazil, Suez, Gatun Lake, El, U.S . East Coast, Los Angeles, Houston, Copenhagen

Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. The Panama Canal is important for moving consumer goods from Asia to the United States, especially ahead of peak selling seasons like Christmas. The Canal also is maintaining a suspension of extraordinary auctions for transit slots in both locks through Sep. 2. "Demand remains high, which proves that the Panama Canal is still competitive in most segments, even with measures taken to save water," the authority added. The Panama Canal has a 40%-market share of containers moving from Northeast Asia to the U.S. East Coast.

Persons: Aris Martinez, Elida Moreno, Marianna Parraga, Gary McWilliams, Grant McCool Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Panama Canal Authority, Canal Authority, U.S ., Thomson Locations: Cocoli, Panama, Panama City, PANAMA, Asia, United States, South, Pacific Coast, Northeast Asia, U.S . East Coast

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