The Comptroller General of the Republic, Anel Flores, ratified the contracts for the continuity of the operation, maintenance, and administration of the Balboa and Cristóbal ports following the recent management transition at both terminals. The Panamanian government took control of both ports on Monday after the Supreme Court's decision, which annulled the concession to Panama Ports Company (PPC) and handed over the temporary operation of the ports for up to 18 months to APM Terminals and TiL. The contracts, signed between the Panama Maritime Authority (AMP) and TIL Panamá, S.A. and APMT Panamá, S.A., were ratified as part of the entity's constitutional and legal oversight of acts and contracts involving state resources. 'The operational continuity of the Balboa and Cristóbal ports is fundamental for strengthening the national port system, the country's competitiveness as a regional logistics hub, and the generation of employment and investment,' the entity stated in a press release. APM Terminals began stabilizing operations at the Balboa port, prioritizing the continuity of the logistics hub while installing a new operational system to resume container movements.
Panama's Comptroller General Ratifies Contracts for Balboa and Cristóbal Ports
The Panamanian government took control of key port terminals after a concession was annulled. The country's comptroller general ratified contracts with new operators, ensuring a legal basis for their operations and emphasizing the ports' strategic importance to the national economy.
