July’s Strike at Port of Balboa Estimated to Have Coast $3m USD in Lost Revenue

August 06: A strike by workers at the Port of Balboa, managed by the Panama Ports Company (PPC), cost a total of USD 3 mn in lost earnings, reported the Maritime Chamber of Panama. The majority of losses stemmed from 16 ships which were unable to dock at Balboa and instead travelled to Colombia or Costa Rica. The strike ended on 29 July after workers accepted a USD 70 bonus payment. Panama’s maritime sector is worth 32 percent of the country’s GDP.

Source: PGI Ltd