Panama Canal to Shortlist Bidders for New Terminals

The Panama Canal Authority expects to announce shortlisted bidders for a project to build and operate two new container terminals by the end of 2026. Administrator Ilya Espino announced the timeline during an event in Houston, stating that initial proposals have been evaluated and pre-qualified companies will soon receive formal requests for proposals.

These terminals are central to a larger $8.5 billion expansion strategy designed to transform the canal into a logistics and energy hub. The plan also includes a proposed liquefied petroleum gas pipeline estimated to cost between $4 billion and $8 billion. Concessions for these projects may be awarded by mid-2027, with operations expected to begin in 2030 or 2031.

Espino also reported that the highest single transit fee paid this year reached $5.2 million. While the authority is managing vessel slots to balance demand and water resources, liquefied natural gas traffic remains low, averaging three vessels per week due to disruptions in the Middle East.