Panama turnover down
Panama’s Maritime Authority (AMP) has reported a $2m cut in revenue in 2016.
It had been budgeted to generate $74.8m, although real income amounted to $76.8m for services rendered.
In terms of investment, AMP’s Jorge Barakat Pitty, noted it had funded port, quay and berth construction during the year.
In 2015-16, 23 port civil works were completed, compared with 43 in the previous five years.
Mr Barakat said that, in 2016, average costs for work had been cut from $287,000 to $157,000.
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