SOUTH AMERICA

Coup in Nicaragua damages port revenues

8 years ago

Nicaragua’s Empresa Portuaria Nacional (EPN, or National Port Company) executive president, Virgilio Silva, has said that the government is well aware of the negative impact that the political crisis in the country is having on its maritime ports.

According to Mr Silva, the government is well aware of the negative impact that the political crisis in the country is having on its maritime ports Photo: MRS Movimiento Renovador Sandinista/flickr/CC BY 2.0

Despite the fact that all nine port areas are operating normally, the EPN reports a reduction in overall revenue that they are generating due to both a reduction in the number of vessel calls and fewer visits from tourists.

The key Port of Corinto is operating normally in terms of cargo but has lost significant numbers of cruise ships. Similarly, the Port of Arlen Siu has seen a reduction in the amount of cargo being generated by cargo vessels. Although the EPN says that all handling services are operating normally, financial losses are now in the order of $140,000.

Overall, the wave of violence that has come about because of the right-wing coup in Nicaragua has led to a loss of $400,000 in combined revenues for EPN.