Panama’s canal authority has confirmed that preparations for two port concessions and a cross-isthmus gas pipeline are entering defined stages, with technical and investor-specific meetings set to take place before the end of the year.

Administrator Ricaurte Vásquez stated that individual discussions with the seventeen companies expressing preliminary interest in the gas pipeline are scheduled to finish this week. The initiative, evaluated under the Canal’s concessions framework following an unsolicited proposal, was declared of institutional relevance and subsequently opened to competitive procedures. Vásquez indicated that financing will not place Canal assets at risk, specifying that capital participation would be limited and that the project must be structured to protect the authority’s balance sheet.

While the gas infrastructure moves to its next phase, the most immediate activity concerns the launch of port-related negotiations. Beginning next week, the Panama Canal Authority will meet firms interested in developing terminals at Corozal on the Pacific side and Isla Telfers on the Atlantic side. The prequalification documents are expected between late December and January 2026. The call for interest was issued publicly in October and generated responses from companies in Asia, Europe and other regions.

The participation framework is governed by the Neutrality Treaty, which requires non-discriminatory access for all bidders. Vásquez reiterated this principle when questioned about the potential involvement of Chinese operators, noting that companies including state-owned Cosco Shipping participated in the October presentation. He added that any geopolitical implications will be addressed only if they materialise.

The authority is proceeding without exclusions despite pressure from the United States, which has strongly objected to Chinese activity in the corridor. Washington’s concerns stem from historical control of terminals and the sale of Balboa and Cristóbal facilities by Hutchison Holdings to a consortium led by the United States-based BlackRock, a transaction that sparked apprehension in Beijing. 

Meetings next week will include consortia such as Cosco Shipping Ports, Orient Overseas Container Line, PSA International, Evergreen, Hapag-Lloyd, Maersk and CMA Terminals. Broader investment plans cited by AFP total $8,500mn over ten years, covering the gas pipeline, a reservoir and additional assets, with adjudications anticipated for 2026 and operations commencing in 2029. 

The key waterway currently carries 5% of global maritime trade and remains heavily dependent on United States and Chinese traffic, which continues to heighten strategic sensitivity over upcoming concessions.