Taiwan’s Evergreen Marine Corp announced it has won an approval to extend its lease of the Colon Container Terminal (CCT) in Panama for another 20 years.
The extended 20-year lease was approved on Wednesday by the government of Panama, ahead of the inauguration of the expanded Panama Canal on 26 June.
Evergreen Marine stated in a news release that the extended lease of the container terminal will help improve its service and efficiency and consolidate Panama’s status as a transhipment hub in the Americas..
CCT can accommodate large containerships and it has three wharfs for small to medium sized boxships. With number 4 wharf being expanded to link to number 3 wharf, the entire docking length will be 780 metres, long enough to cater to two large ships of 12,000-14,000 teu. Two other wharves can accommodate ships of up to 5,000 teu.
Evergreen highlighted that with the joining of wharves 3 and 4, the total annual capacity at Colon port will increase to 2.4m teu from 1.5m teu.