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Panama Canal negotiations collapse

Negotiations between the Panama Canal Authority and the building consortium have collapsed, and work on the expansion of the canal has been halted.

Photo: Hamburg Süd

Attempts to find a solution to ensure the construction of the third water lock in the Panama Canal were once again unsuccessful. According to the building consortium, Grupo Unidos por el Canal (GUPC), negotiations between the consortium and the Canal authority collapsed Tuesday night. And the consortium has now acted on and realized its threat to halt construction on the canal expansion, according to several media reports.

Negotiations between the two parties collapsed without finding a solution to the dispute related to a USD 1.6 billion budget transgression, for which none of the parties are willing to claim responsibility.

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