Petroleum Free Zones of Panama
Article from: OGEL 2 (2004), in Roundup of Articles
Introduction
When the original Petroleum Free Zones legislation was passed back in 1992, we said that Panama was poised to become a major oil and downstream products redistribution centre for two main reasons: one is the existence of the Panama Canal creating a natural bunkering market as well as a transshipment point and the other reason is pricing. During the last ten years, Panama also privatised its container ports, which were substantially revamped into state-of-the art facilities, plus new modern container ports were built, moving Panama into the No.1 position in container movements in 2002 in ...