The expansion of the Panama canal and its ruling international contract: A mega-project sailing in troubled waters?
The world has recently witnessed the inauguration of the Panama Canal Expansion. This civil engineering mega-project, resulting from a particular historical, political and economic background, is going to globally reconfigure the maritime transport. The Panama Canal Expansion includes the creation o...
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| Format: | Article |
| Language: | English |
| Published: |
2017
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| Subjects: | |
| Online Access: | https://dialnet.unirioja.es/servlet/oaiart?codigo=6062580 |
| Source: | Revista electrónica de estudios internacionales (REEI), ISSN 1697-5197, Nº. 33, 2017 |
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| Summary: |
The world has recently witnessed the inauguration of the Panama Canal Expansion. This civil
engineering mega-project, resulting from a particular historical, political and economic background, is
going to globally reconfigure the maritime transport. The Panama Canal Expansion includes the creation
of a new lane by the design and construction of the third set of locks, which has undergone to a qualified
tender process. The relationships between the parties (the Spanish led consortium Grupo Unidos por el
Canal as the contractor and the Panama Canal Authority as the Employer) and the different actors of the
project are configured by an extraordinarily complex international contract drawn from a FIDIC form but substantially amended taking into account the particularities of this mega-project. The contractual
provision ruling the dispute resolution terms sets forth a multi-tier clause that addresses in first place to
the negotiation between the parties, continues with a Dispute Resolution Board (DAB) and finally ends
with an arbitration. The referred escalated clause shall be insightfully analyzed in this paper, in light of
the status quo of the worth million claims filed by the contractor up to this date. |
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