Panama Canal Authority

Logo of the Panama Canal Authority
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The Panama Canal Authority (Spanish: Autoridad del Canal de Panamá (ACP)) is the agency of the government of Panama responsible for the operation and management of the Panama Canal. The ACP took over the administration of the canal from the Panama Canal Commission, the joint US–Panama agency that managed the canal, on December 31, 1999, when the canal was handed over from the United States to Panama as per the Torrijos–Carter Treaties.

Establishment

The Panama Canal Authority is established under Title XIV of the National Constitution, and has exclusive responsibility for the operation, administration, management, preservation, maintenance, and modernization of the canal. It is responsible for the operation of the canal in a safe, continuous, efficient, and profitable manner.[1]

The Organic Law of the Panama Canal Authority, passed on June 11, 1997, provides the legal framework for the canal's organization and operation.[2]

Organization

Panama Canal Administration building
Interior of the Panama Canal administration building

Because of its unique nature, the ACP has financial autonomy, as well as ownership of the canal's assets.

The Board of Directors is responsible for establishing policies for the operation, improvement, and modernization of the Canal, as well as supervising its management pursuant to the National Constitution, the Panama Canal Authority Organic Law, and the Regulations thereto appertaining.

The board of directors is made up as follows:

The Directors shall serve in their posts for a term of 9 years, and may only be removed for the reasons set forth in Article 20 of the Panama Canal Authority Organic Law.

The Panama Canal is defined by law to be an inalienable patrimony of the Republic of Panama. Therefore, it may not be sold, assigned, mortgaged, or otherwise encumbered or transferred.

Board of Directors

The Panama Canal Authority Board of Directors is responsible for establishing policies for the operation, improvement, and modernization of the Canal, as well as supervising its management.

At present, the Panama Canal Authority Board of Directors is made up of the following members:

  • Roberto Roy, Chairman of the Board
  • Adolfo Ahumada
  • Marco A. Ameglio S.
  • Rafael E. Bárcenas P.
  • Guillermo O. Chapman, Jr.
  • Nicolás Corcione
  • Ricardo de la Espriella Toral
  • Henri M. Mizrachi K.
  • Lourdes del Carmen Castillo Murillo
  • José A. Sosa A.
  • Alberto Vallarino Clément

References

  1. ACP Overview, from the Panama Canal Authority
  2. Organic Law, from the Panama Canal Authority

Coordinates: 8°57′35.50″N 79°33′18″W / 8.9598611°N 79.55500°W / 8.9598611; -79.55500

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