The Panama Canal Authority expects to announce prequalified companies for the proposed Corozal and Telfers container terminals before the end of 2026. Administrator Ilya Espino de Marotta outlined the next steps at the Houston International Maritime Conference on 4 November, according to Reuters, as the concession process moves towards formal bidding.
Speaking at the conference, Espino de Marotta said the authority had completed its initial evaluation of submissions from interested companies, according to Reuters reporting carried by Baird Maritime. The forthcoming announcement would identify which companies have qualified to proceed in the selection process for Corozal, on the Pacific side, and Telfers, on the Atlantic side of the Panama Canal.
Those companies would subsequently receive requests for proposals (RFPs), allowing the authority to advance towards the formal bidding stage. However, prequalification does not constitute a concession award, and the ACP has yet to publish the names of successful applicants.
RFPs and Concession Awards Still Ahead
The latest announcement follows a prequalification process launched earlier this year under the ACP’s concession regulations. The main procedural milestones are:
- 30 January 2026: The ACP published the initial prequalification documents for the Corozal and Telfers terminal projects.
- 9 July 2026: The authority closed the submission period following three amendments to the prequalification documents.
- 4 November 2026: Espino de Marotta reported that the initial evaluations had been completed, with the shortlist expected before year-end, according to Reuters.
The ACP’s official announcement of the July closure confirmed that submissions would be assessed against technical, financial and legal criteria. The authority had previously detailed the launch of the process, also covered in LATITUDE15’s February report on the canal’s tender initiatives.
Under the timetable reported by Reuters, the concessions could be awarded around mid-2027, with terminal operations potentially beginning in 2030 or 2031. These remain indicative dates, dependent on the subsequent bidding, contracting and construction stages. Earlier comments reported by La Estrella de Panamá in September pointed to awards towards the end of 2027, underlining that the schedule has not been formally fixed.
The commercial field has not yet been disclosed. Espino de Marotta indicated that major shipping groups such as Maersk and Mediterranean Shipping Company (MSC) could be potential bidders, according to Reuters. Neither company has been officially identified as prequalified, and their participation in the next stage remains unconfirmed.
Reuters also reported that the ACP was beginning to consider a third terminal project. No confirmed location, investment estimate or development timetable has been announced for that possible additional facility. It remains separate from the current Corozal and Telfers concession process.
The wider investment rationale, projected transshipment capacity and commercial challenges of the two-terminal programme have already been examined in LATITUDE15’s August analysis of Panama’s planned port capacity expansion.
For the current procedure, the next verifiable milestone is the publication of the prequalified companies. Until that list is released, the identity of the bidders advancing towards the RFP stage remains unconfirmed.
FAQ
Have concessionaires been selected for the Corozal and Telfers terminals?
No. As of 6 November 2026, the Panama Canal Authority had not announced prequalified companies or awarded concessions for either terminal. Formal bidding is expected to follow the prequalification stage.
When will the Panama Canal Authority announce the shortlisted companies?
Administrator Ilya Espino de Marotta said the list was expected before the end of 2026, according to Reuters reporting on her remarks at the Houston International Maritime Conference on 4 November.
When could the Corozal and Telfers terminals begin operations?
Operations could begin in 2030 or 2031 under the indicative timetable reported by Reuters. This remains subject to concession awards, construction schedules and completion of the necessary development stages.
