The Panama Canal Board of Directors and the Advisory Board began their XLI meeting today, Monday, to analyze the global maritime trade environment and the progress of the Canal's strategic initiatives.
The meeting, which will conclude this Wednesday, also serves as a setting for the transition in the chairmanship of the Advisory Board. Admiral William J. Flanagan concluded his tenure at the head of this body, after years of valuable contribution to the Panama Canal, and was succeeded by Danish businessman Tommy Thomsen. With more than three decades of experience in the maritime and shipping industry, Thomsen currently leads Lauritzen Fonden, one of Denmark's leading business foundations.
In addition, the Advisory Board now has two new members: Oscar Hasbún Martínez, CEO of Compañía Sud Americana de Vapores (CSAV), and Dr. Jean Paul Rodrigue, professor at Texas A&M University in Galveston.
The agenda began with a tour of the Cocolí locks, the Integrated Operations Control Center (CICO), and part of the area where two of the complementary projects will be developed: the gas pipeline and the extension of the logistics corridor.
During the tour, the Canal Administrator, Ilya Espino de Marotta, and the Deputy Administrator, Miguel Lorenzo, showed the progress of these initiatives, as well as the operation of the locks and the operations control center from where the transit of vessels through the waterway is coordinated.
"The recommendations of the Advisory Board are a valuable input for the decisions we make about the future of the Canal. Their vision helps us anticipate changes in global trade and ensure a reliable, sustainable, and competitive Canal for future generations," said the Minister for Canal Affairs and Chairman of the Board of Directors, Jose Ramón Icaza.
For his part, Tommy Thomsen, Chairman of the Advisory Board, stated that "the Panama Canal faces an environment of profound changes, but it has a unique position to remain a key connector of global trade. This Board will continue to contribute its experience to accompany that path."
As part of the program, members of both boards will address key issues for the interoceanic waterway such as the operational water strategy in response to the El Niño phenomenon, income diversification, and the Canal's competitiveness.
The New Members
Oscar Hasbún Martínez is a commercial engineer from the Pontificia Universidad Católica de Chile, with nearly fifteen years of experience in the global logistics industry. He is CEO of Compañía Sud Americana de Vapores, the largest shareholder of the German shipping company Hapag-Lloyd, and Chairman of the Board of SM SAAM, a leader in tugboat services in the Americas. He also serves on the boards of Hapag-Lloyd (Germany), CCU (Chile), and Nexans (France), among others.
Jean Paul Rodrigue is a professor in the Department of Maritime Business Administration at Texas A&M University in Galveston and holds a Ph.D. in Transport Geography from the University of Montreal. He is a prominent member of the PortEconomics.eu initiative and the International Association of Maritime Economists, and from 2013 to 2018 he was a member of the Advisory Board of the United States Merchant Marine Academy.
About the Advisory Board
The Advisory Board, established in December 1999 by the Organic Law of the Panama Canal (Law 19 of 1997), acts as a high-level consultative council, with the primary responsibility of providing strategic recommendations to the Board of Directors and the Canal Administration. Its role is essential for the financial health of the Panama Canal, as it advises on key decision-making to ensure the Canal's competitiveness in the global market, the long-term sustainability of its operations, and the optimization of its resources.
The Advisory Board is composed of experts in various sectors, such as transportation, global trade, telecommunications, construction, banking, and academia.
