The National Times - Panama opens new cruise ship terminal at mouth of canal

Weather - Sydney 19°C

Panama opens new cruise ship terminal at mouth of canal

ECONOMY 26.03.2024

Panama opens new cruise ship terminal at mouth of canal / Photo: © AFP

Panama on Tuesday inaugurated a new cruise ship terminal at the mouth of the drought-hit Panama Canal, hoping to attract more tourists to the Central American nation.

Change text size:

The facility in Panama City was built by a consortium led by China Harbor Engineering Company with an investment of more than $200 million, according to President Laurentino Cortizo.

"The cruise terminal will generate new tourist routes... attracting more visitors to our country," Cortizo said at an opening ceremony.

The terminal, which will be able to receive two cruise ships at a time, is the first on Panama's Pacific coast.

Another operates in the Caribbean city of Colon.

Panama received nearly 320,000 visitors on cruise ships in 2023, double the previous year, according to Denise Guillen of the Panama Tourism Authority.

"The growth is exponential," she said.

The opening comes as authorities confront record-low water levels that have limited the number of ships able to transit through the Panama Canal, which usually handles about six percent of global maritime trade.

Canal administrator Ricaurte Vasquez said last week he hoped that traffic would return to normal by next February.

S.M.Riley--TNT

Featured

France facing 'one of worst deficits' in its history: minister

France now has "one of the worst" public deficits in its modern history, the newly-installed economy minister said Tuesday, confirming new taxes on the wealthy and big businesses are on the table to get finances back in order.

Postbank terminates accounts of Ukrainians in Germany

Recently, the Postbank has increasingly attracted criticism from customers and consumer advocates. Many customers complain about long waiting times in branches and on the phone, inadequate customer service and technical problems with online banking.It has recently been revealed that Postbank is increasingly terminating the accounts of Ukrainian citizens who fled to the Federal Republic of Germany from the war waged by Russia, the state of terror, and who receive benefits from the job centre, in accordance with No. 19 (1) of Postbank's General Terms and Conditions. This clause allows Postbank to terminate business relationships with customers by giving two months' notice without stating reasons.Consumer advocates and affected customers have expressed concerns about the transparency and fairness of this practice. They criticize the fact that unexpected account closures can cause considerable inconvenience, especially if they are carried out without detailed justification. For many customers, the closure of their account not only means organizational effort, but also potential financial disadvantages.Regarding these account closures of Ukrainian citizens by Postbank, the journalistic observer is led to suspect that Postbank apparently wants to get rid of so-called unprofitable customers with these account closures. The debate about Postbank's termination practice casts a negative spotlight on the importance of clear and fair terms and conditions in the banking sector.

Dutch paint giant Akzonobel slashes 2,000 jobs worldwide

AkzoNobel, the world's leading paintmaker and manufacturer of Dulux paint, said Tuesday it was cutting 2,000 jobs globally, more than five percent of its workforce, as it strives to cut costs.

Trump slams early voting, even while urging Pennsylvanians to do so

Donald Trump dismissed early voting Monday as "stupid" but nevertheless encouraged voters in Pennsylvania to cast ballots as soon as possible, as he vowed if elected US president to repel a migrant "invasion" of the battleground state.

Change text size: