Panama Canal Authority

The Panama Canal Authority (Spanish: Autoridad del Canal de Panamá, ACP) is the authority of the State of Panama, which manages and operates the Panama Canal.

Basics

The Panama Canal Authority is a separate legal entity. In German terminology one would describe as an institution of the ( Panamanian ) public law. It is based on the provisions of Title XIV (Art. 315-323 ) of the Panamanian Constitution.

The supreme organ of the ACP, the Board ( Junta Directiva - Board of Directors), which consists of eleven directors. The Chairman of the Board is appointed by the President of the Republic, he is concurrently Minister for Canal Affairs. Nine Direktore be appointed by the President and his Cabinet with the consent of the Parliament, a Director shall be appointed solely by the Parliament. The term of office of the directors shall be nine years. The ACP has an Advisory Board ( Junta Asesora - Advisory Board ), consisting of 18 people from different countries, who are appointed for two years.

The business of the ACP can be managed by an administrator ( Administrador ) and his representative in accordance with the instructions of the Board. The administrator represents the ACP to the outside. He is appointed for a term of seven years by the Board.

Their headquarters is in Balboa in the Administration Building No.. 101, the traditional seat of the channel management since 1914.

Tasks

While the channel is the inalienable property of the Panamanian people themselves, the responsibility of the ACP management, operation, preservation and maintenance, and modernization of the channel. The ACP has to have private property and self- management powers. The responsibility of the ACP also extends to the belonging to the channel waters, lakes and their tributaries. Details are specified in an organic law. The ACP is bound by the provisions of the Agreement on the neutrality of the canal, which is a part of the agreement reached on 7 September 1977 between the United States and Panama Torrijos -Carter Treaties.

Presence

The Chairman of the Board of Directors is currently (June 2013) Roberto Roy, concurrently Minister for Canal Affairs. Since 2012 Jorge L. Quijano, a since 1975 active in the management of the canal engineer, administrator of the channel. He followed on September 4, Alberto Alemán Zubieta on who held this office 16 years. The ACP has about 9,000 employees. The ACP is not only active in the channel administration, but provides electricity and 95 % of drinking water for the cities of Colón, Panamá, San Miguelito, and in future Chorrera. By far the largest object of the ACP is the extension of the channel with the construction of new locks, to be completed by 2014 and the construction of the Atlantic Bridge, a cable-stayed bridge on the Atlantic end of the canal, which is scheduled to open early 2015.

According to the annual report 2011, the ACP total proceeds of 2,318 million Balboa ( = U.S. dollars), of which 1,730 million Balboa Canal tolls. The channel traffic was up 7.3 % to 322.1 million PCUMS (units of the Panama Canal Universal Measurement System) has increased, distributed to 14,684 passing vessels, of which 12,989 ocean-going vessels, of which 6,918 belonged to Panamax class. Net income ( net profit) amounted to 1,229 million Balboa.

History

The Autoridad del Canal de Panamá was founded on 27 December 1997. The first meeting of its Board of Directors was held on 12 February 1998. After a transitional period, in which the channel was administered together with the Panama Canal Commission, the ACP took over on 31 December 1999, the sole responsibility and management.