During the meeting, the head of Quetzal Port Company (EPQ), Fernando Almendares, pointed out that his organisation simply didn\’t have either the financial or technological capability to build a container terminal with existing resources. Juan Carlos Paiz, the head of the presidential commission for competition, stressed that the port was also increasingly less competitive in terms of services.
\”Vessels are making annual losses of US$8.82m due to the combined 6300 hours of waiting time that they are having to endure prior to being handled in the port,\” he said.
However, the concession is opposed by the port unions, who point out that more than 50% of the existing handling equipment is currently not available, awaiting repair. They fear that once TCQ is up and running container vessels will no longer call at existing terminals.
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