Analyze performance of the Panama Canal

Posted on 2019-05-22

The Advisory Board and the Board of Directors of the Panama Canal held a three-day meeting in this capital, in which they analyzed the performance of the interoceanic highway and opportunities for future growth.

As part of the agenda, the operation of the Canal, its solid financial position, the progress of the National Water Security Plan and complementary business opportunities, among other issues, were reviewed. The group also analyzed industry trends that could impact the interoceanic road in the short and long term.

At the end of its meeting, the Advisory Board elected as its new president Admiral William J. Flanagan, in succession to William O’Neil, general secretary emeritus of the International Maritime Organization (IMO) who was elected as the first chairman of the board in 1999 and reelected in future by unanimous vote.

“It is an honor to be named the new president of the Canal Advisory Board. I’ve always had a good relationship with Panama and I think the Canal has a bright future ahead of us, “said Flanagan, who was commander-in-chief of the US Atlantic fleet and NATO commander-in-chief, West Atlantic, and president from Caledonia Partners, Inc.

The Advisory Board meets twice a year, alternately in Panama and in a city linked to the maritime industry, and which sometimes coincides with the residence of one of its members, who offer their work and experience ad honorem. 

This is an instance instituted in the Organic Law of 1997, to act as an advisory board, with the primary responsibility to provide guidance and recommendations to the Board of Directors of the Panama Canal. Established in 1999, the Advisory Board offers key information and strategic advice to the waterway, which allows it to improve the efficiency, safety and reliability of its operations and maintain the competitiveness of the route.

The group is made up of recognized professionals with extensive experience in business worldwide and knowledge of the Panama Canal in particular, which is a solid amalgam that integrates knowledge of transportation and global trade, business, telecommunications, civil construction and development, in addition to banking and the academic sector.

During their stay in Panama, the Advisory Board and the Board of Directors visited the recently inaugurated IMAX theater, which operates as a concession, as well as the Miraflores Visitors Center.

Source Anpanama