F E AT U RE A KEY ADVANTAGE At Canal Movers, Laffitte explains more about why international movers that have established their operations in Panama City are well placed. (This location) is an advantage for any international moving company, since there is a variety of routes available for inbound and outbound shipments with different shipping lines, he said. One of the most significant advantages of our proximity to the Panama Canal is that we can pick up or drop off a container at a port within 30-60 minutes. Our office and warehouse is in the former Canal Zone Area which used to be a US Territory, says Laffitte. WHEN IN PANAMA What to see, do and eat while in Panama City If youre travelling to Panama City on business, relocating there, or taking a holiday, take some tips from a local expert. Walter Laffitte, President and CEO of Canal Movers & Logistics Corp, says: Panama is a unique cosmopolitan city. You have everything you might look for, night entertainment, hotels, all kind of restaurants, good movie theatres, shopping centres, old town areas, casinos and museums. What to do: Walk in the Casco Viejo (old town area). What to eat: Fried tortillas, tamales, arroz con pollo (rice and chicken), sancocho (Panamanian chicken soup) among other dishes. What to see: Old Panama (Panama la Vieja), ruins of the first European settlement in Panama destroyed during a pirate raid in 1671. And of course, go to the Panama Canal Visitors Centre in Miraflores Locks. Here, you will see one of the worlds seven wonders while having a meal at its restaurant. Expansion of the Panama Canal in the last three years has been nothing but good news for local and international trade. Supply and demand that drives global shipping can be difficult to predict in the longer term, however, and this will impact on the volume of traffic using the canal. Improvements were officially unveiled in 2016 and comprised new locks to enable this major shipping artery to accommodate mega ships that can carry three times as many containers as before. According to a report in the UKs Independent newspaper on its inauguration, around 98 per cent of the worlds vessels are now able to navigate the Panama Canal since the upgrade. To illustrate the size of the vessels now able to travel along the improved canal, the Chinese ship that made the inaugural journey was 158ft wide and nearly 1,000ft long. Walter Laffitte continues: Transit of bigger ships brings more containers with cargo, demanding a top-level port operation and infrastructure. We have seen a reduction in full container load (FCL) freight because of economies of scale with larger vessels (entering service). If even larger vessels are built, the Panama Canal Administration which operates the canal will have to evaluate further expansion work. GREATER CONTROL OF TRADE While running any moving company has its challenges, Affiliates in other markets might well be envious of those in Panama City. Laffitte says: Being so close to the Atlantic and Pacific Oceans allows us to be more in control of our trading operations. A cargo vessel leaves the Panama Canals Pacific wide under the iconic Bridge of the Americas 60 FF294 DecJan20 pp56-63 City on the Move Panama.indd 60 WWW. F I D I . OR G 20/11/2019 13:27