The Panama Canal expects to announce the pre-qualified bidders for a new container terminal project by the end of this year, Administrator Ilya Espino said on Wednesday, advancing a tender process linked to one of the world’s most strategic trade corridors.
Speaking at an event in Houston, Espino said the canal authority has already received and evaluated initial proposals. The shortlisted companies will next receive a request for proposals, moving the project into a more formal bidding stage.
Espino added that global shipping heavyweights such as Maersk and MSC could be potential bidders.
The new terminal is part of a broader $8.5 billion expansion plan aimed at turning the Panama Canal into a larger logistics and energy hub beyond its traditional role as a passageway for ships.
Espino, who began her role in September, has been leading a strategy to build out a trans-isthmus logistics corridor to complement the canal, which remains one of the world’s most important arteries for maritime trade.
That broader plan includes a proposed $4 billion to $8 billion pipeline to transport liquefied petroleum gas, as well as two new container terminals expected to attract another $2.6 billion in investment.
The canal authority received initial expressions of interest for the projects last year and opened a pre-qualification process in January, allowing submissions in the first half of 2026. If contracts are awarded by the middle of next year as planned, operations could begin in 2030 or 2031.
Espino said the canal is also beginning to plan a third terminal project, reflecting strong demand for added port capacity around the waterway.
Existing ports near the canal are already close to full capacity, making expansion increasingly important for handling future cargo flows.
(Reporting by Marianna Parraga; Editing by Kylie Madry and Daina Beth Solomon)