Panama Canal Authority (ACP) selects operators for Corozal and Telfers container terminal concessions

By Global Infrastructure Sherpa · Feb 23, 2026

Partnership Transport announced Panama Feb 23, 2026

USD8.5B

Deal Value

5 TEUs

Capacity

development

Stage

Panama Canal Modernization Program

Project

Panama Canal Authority (ACP) is in discussions with 17 global operators, including APM Terminals, COSCO Shipping Ports, CMA Terminals, DP World, PSA, and MSC’s Terminal Investment Ltd, to bid for concessions for two new container terminals, Corozal (Pacific) and Telfers (Atlantic). Selection is expected by the end of 2026.

Deal Analysis

The Panama Canal Authority (ACP) is seeking operators for concessions to develop and operate two new container terminals, Corozal (Pacific) and Telfers (Atlantic). This partnership aims to enhance the Canal's capacity and competitiveness in global trade. The ACP is currently in discussions with 17 global operators, including industry giants such as APM Terminals, COSCO Shipping Ports, CMA Terminals, DP World, PSA, and MSC’s Terminal Investment Ltd, with selection expected by the end of 2026. The involvement of these major players underscores the strategic importance of the Panama Canal as a key global trade route. The selection of operators for these terminals will have significant implications for the region's logistics landscape. The deal represents a substantial opportunity for the selected operators to expand their presence in a critical maritime hub. The competition among these major port operators highlights the attractiveness of the Panama Canal as a strategic asset for global trade and supply chains. The outcome of this selection process will likely reshape the competitive dynamics of container terminal operations in the region.

Involves the Panama Canal Authority (ACP) partnering with global port operators.
Attracts interest from 17 major players including APM Terminals, COSCO Shipping Ports, CMA Terminals, DP World, PSA, and MSC’s Terminal Investment Ltd.
Focuses on developing two new container terminals: Corozal (Pacific) and Telfers (Atlantic).
Selection of operators expected by the end of 2026.

Market Context: The deal is in the transport sector, specifically container terminal operations. The Panama Canal is a crucial global trade route, making this a strategically important location for port development and operations.

Source Intelligence

KEY DETAILS

The modernization program includes a cross-isthmus gas pipeline and a large-scale water security project. Quote: "A cross-isthmus gas pipeline will improve efficiency in handling increasing LPG flows between the US Gulf and Asia. A large-scale water security project (including a new reservoir) to stabilize Gatun Lake levels after repeated drought shocks."

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Deal Size

The Panama Canal $8.5B Gamble

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Capacity

Two new container terminals, Corozal (Pacific) and Telfers (Atlantic), are expected to add 5–6 million TEUs of annual capacity

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Location

Two new container terminals, Corozal (Pacific) and Telfers (Atlantic)

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Expected Close

Selection is expected by the end of 2026.

PARTIES MENTIONED IN SOURCE

APM Terminals bidder