Evergreen Marine Gets 20-Year Extended Lease Of Panama’S Colon Terminal

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.