Friday, November 28, 2025.
Giving Thanks, Always
With Thanksgiving now in the rearview, we’re reminded that gratitude is not meant to be confined to a holiday, it is meant to be lived every day as a discipline of the mind. The Stoics taught that the quality of our lives depends less on what happens around us and more on the lens through which we choose to interpret those events. Gratitude sharpens that lens. It roots us in the present moment and reveals value in places we often overlook.
The holiday gives us a pause, a chance to acknowledge blessings that are easy to ignore in the rush of our daily responsibilities. But the deepest form of appreciation isn’t found around a dinner table; it rises quietly in the small, unremarkable moments we tend to dismiss: the morning light through a window, a simple meal shared, a conversation that brings clarity, the presence of those who stand with us through both triumph and hardship.
Marcus Aurelius reminded himself each morning that he would meet challenges, frustrations, and difficult people, yet still be grateful, because each difficulty was an opportunity to practice virtue. Seneca wrote that no man becomes wise by accident; wisdom is shaped by what we choose to notice and how we choose to respond. Gratitude, practiced daily, is one of the most powerful responses available to us. It turns ordinary days into meaningful ones. It teaches us resilience by shifting our focus from what is missing to what remains.
And in a world that moves fast, often too fast, gratitude is a way of slowing the internal noise. It aligns us with what truly matters, cutting through distraction and excess. It strengthens our inner foundation, allowing us to lead with calmness instead of urgency, awareness instead of impulse, and purpose instead of reaction.
As we move through the season ahead, it’s worth remembering that the most important parts of life rarely come with ceremony. They reveal themselves in moments so quiet they’re easy to miss. When we train our minds to seek them out, we not only become more centered, we become more present for the people who depend on us, more grounded in our work, and more capable of meeting each day with clarity and strength.
Thanksgiving may be behind us, but its lesson remains: gratitude isn’t an event. It’s a way of living.
Brett Mikkelson
Director, B.M. Investigations, Inc. – Private Investigations in Panama
TOP NEWS and TIDBITS:
Panama Canal Prepares Prequalification for New Port Terminals and Advances in Gas Pipeline Process
Panama Canal Administrator Ricaurte Vásquez indicated that the entity “wants to carry out the prequalification at the end of December, or possibly in January,” for the new port terminals the Canal administration plans to develop.
The details known so far indicate that the project includes the development of two terminals in Corozal and Telfers, with a combined capacity of nearly 5 million TEUs per year and an estimated investment of US$2.6 billion. The award is expected by the end of 2026, with operations beginning in early 2029, and only companies that prequalify will be able to continue in the process.
“As fast as that. This window of opportunity will not be open for long,” he warned during his presentation at the monthly luncheon of the Panamanian Association of Business Executives (APEDE).
The objective is to expand transshipment capacity, strengthen Panama’s position as an intermodal hub, and respond to the reality that the interoceanic area is currently operating at its limit. The proposal also incorporates specialized infrastructure criteria and progressive environmental standards.
“We need to begin a process of individual conversations… we will begin the individual conversations next week (Monday),” he noted.
The Canal held the first meeting of the process on October 27, during which port operators and shipping lines were invited to provide feedback on the initiative. Nineteen companies with experience in container port operations and liner shipping participated. Among them were APM Terminals, Cosco Shipping Ports, CMA Terminals, DP World, Hanseatic Global Terminals, MOL, PSA International, SSA Marine–Grupo Carrix, and Terminal Investment Limited; as well as representatives from CMA CGM, ONE, Evergreen, Hapag Lloyd, HMM, Maersk Line, MSC, OOCL, COSCO, Yang Ming, Port of Houston, and ZIM.
The Canal has capacity
“In fact, the Panama Canal has the capacity for up to four terminals: two on the east bank—Corozal and Telfer—and two on the west bank, including Sherman and Velásquez,” the administrator explained.
When asked about the participation of Chinese companies, the administrator reminded that the legal framework requires the process to remain open. “The principle is that, under the neutrality treaty, we must be open to the participation of all interested parties,” he said when questioned about whether companies from that country would be included.
He explained that starting next week, they will hold meetings with all companies that expressed interest during the presentation held in October.
The administrator reiterated that all assets developed under this scheme will be owned by the Panama Canal and therefore protected by the neutrality treaty.
Gas Pipeline
Regarding the gas pipeline, Vásquez explained that they are currently in a round of meetings with interested companies. “At this moment, we are holding virtual meetings with interested parties. Remember that 45 companies attended the presentation held in Panama on September 18. We had in-person meetings in Houston last week, and the rest of the meetings will be held via teleconference from Monday through Thursday,” he detailed. He added that these meetings “should conclude this week” concerning the gas pipeline.
Regarding the current level of interest, he noted that “there are 17 entities that are in discussions with us in this first stage,” during which information is analyzed, along with possible volumes and long-term contracts needed to support financing.
Vásquez made it clear that the Canal will seek to limit its financial risk in this project. “In this type of project, the Panama Canal will not risk its assets. It will be financed; we will make a capital contribution, but that is where the Canal’s financial risk ends,” he stated, indicating that they have not yet entered into concrete financing discussions with potential organizations because it is “too early,” as the project and commercial contracts have not yet been defined.
APEDE Supports
APEDE President Giulia De Sanctis emphasized to the media that the investment package proposed by the Canal represents a significant opportunity for Panama’s economy at a time marked by low domestic consumption, high informality, and reduced foreign direct investment. She noted that projects of this scale can stimulate employment, attract capital, and reactivate key sectors. She added that APEDE will include these developments in its economic analyses and in international presentations aimed at potential investors.
Government Sets New Maximum Fuel Prices Starting November 28
The National Secretariat of Energy has established new maximum retail prices for certain liquid fuels in various cities of the Republic of Panama. These prices will be in effect from 6:00 a.m. on November 28, 2025, until 5:59 a.m. on December 12, 2025, according to Resolution No. MIPRE-2025-0044351 published in the Official Gazette.
According to the official document, the prices apply to 95-octane gasoline, 91-octane gasoline, and diesel in cities such as Panama City, Colón, Arraiján, La Chorrera, Antón, Penonomé, Aguadulce, Divisa, Chitré, Las Tablas, Santiago, David, Frontera, Boquete, Volcán, Cerro Punta, Puerto Armuelles, and Changuinola.
Prices in Panama City
In Panama City, the maximum prices per liter were set as follows:
- 95-octane gasoline: B/.0.888
- 91-octane gasoline: B/.0.843
- Diesel: B/.0.866
Meanwhile, Changuinola records the highest prices in the country, with 95-octane gasoline at B/.0.938, 91-octane gasoline at B/.0.893, and diesel at B/.0.917 per liter.
The resolution follows Executive Decree No. 89 of October 2025, which authorizes the National Secretariat of Energy to update fuel prices every 14 days based on international market fluctuations, freight costs, and reasonable marketing margins.
Moody’s Warns that Canal Projects, Including Río Indio, Are Key to Panama’s Growth and Credit Profile
The Panama Canal’s plans to secure new water sources continue to be decisive for the country’s economic performance and its credit assessment. This was stated by Renzo Merino, the lead analyst for Panama’s credit rating at Moody’s, who emphasized that projects such as Río Indio are essential to maintaining Canal operations amid growing climate pressures.
This project —which involves an estimated investment of more than US$1.5 billion and is scheduled to begin construction around 2027— is the most viable solution to prevent situations like those experienced in 2024, when the Canal had to restrict vessel transits due to lack of water.
Merino recalled that, in previous years, the country’s economic dynamism was closely tied to the performance of the interoceanic waterway. “The Canal’s projects are very important to maintain that dynamism, where the economy was growing at 4% or perhaps a bit more,” he said, stressing that recent experience made it clear that water limitations can significantly affect operations.
The analyst also acknowledged the contribution the Canal has made to public finances during the most difficult moments. “What must be recognized is that despite the challenges, the Canal did help the State in terms of the revenues it was able to provide during that period,” he noted.
However, he warned that water vulnerability remains one of the most significant factors for Panama. “Clearly, the issue of water management and Panama’s exposure to climate events is very important. Addressing this continues to be essential not only for the government’s credit profile,” he explained.
Merino emphasized that the Canal’s performance has a dual impact: on the State, for which it is currently “perhaps the most important source of revenue,” and on the Canal itself, whose rating is higher than that of the government and depends directly on operational continuity—something made possible by projects like Río Indio.
Panama City Hall Regulates the “Casco Peatonal” with New Rules and Penalties
The Panama City Mayor’s Office has issued Mayoral Decree No. 13, which establishes the rules for the cultural and tourism project “Casco Peatonal,” designating several streets in the Casco Antiguo as pedestrian-only areas during scheduled events.
The decree defines the following streets as exclusive pedestrian zones while the project is in effect: Calle Central (between Calle 2 Este and Calle 9), Pedro J. Sosa, José de Obaldía, Calle 7 San José, Calle 6 Nicanor Villalaz, Calle 5 San Pablo, Calle 4, Calle 3, Calle 8, Calle 2 Oeste, and José D. de la Obaldía.
It also establishes the following prohibitions during these activities:
• Consumption and sale of alcoholic beverages without authorization.
• Unauthorized street vending.
• Entry of coolers, glass containers, or alcoholic beverages.
• Installation of furniture, tents, or structures without permission.
• Handling of fireworks.
• Use of masks or items that impede identification after 6:00 p.m.
• Sound equipment exceeding permitted noise levels.
The coordination and supervision of the project will be supported by the Municipal Police, the National Police, SPI, ATTT, and the Fire Department, who will ensure road closures, perimeter security, and compliance with the decree’s provisions.
Penalties for violating these rules range from 50 to 300 dollars, in addition to possible community service hours.
Mulino States that Panama Will Formalize Its Permanent Accession to Mercosur
Panama’s President, José Raúl Mulino, confirmed this Friday that the country will present its permanent accession to the Mercosur presidents’ summit on December 20. The president reiterated that the goal is to deepen Panama’s relationship with the South American bloc through the use of the country’s logistics platform.
“As a country, on December 20 we will present to the Mercosur presidents’ summit our permanent accession to that South American group of countries, which together total hundreds of millions of inhabitants,” he stated.
Mulino emphasized that this accession seeks to facilitate the movement of goods from the south by using Panama’s logistics infrastructure. “With one purpose: to interact more, and to make available to those great southern countries our logistics platform, our geographic position, our Canal, our ports, our special economic zones, so that their major exports in grains, fertilizer, and meat reach Panama and from Panama are moved to different parts of the world through our logistics system,” he said.
Panama has been an associate member of Mercosur since October 2025, when the agreement signed with the bloc in December 2024 was ratified by the National Assembly.
The announcement was made during his official visit to Costa Rica, where President Mulino and Costa Rican President Rodrigo Chaves agreed to strengthen bilateral cooperation in trade, agriculture, migration, logistics, tourism, and security. The private meeting between the two leaders took place at the National Theater in San José, as part of an agenda that included protocol events and meetings between both countries’ delegations.
Both presidents highlighted that Panama and Costa Rica share a history and geography that drive joint efforts. Chaves noted that the relationship is based on “the genuine willingness to act and move forward together,” while Mulino emphasized that his mission is to tighten ties between the two governments. During the meeting, they agreed to maintain coordination on security, migration, and border cooperation, as well as to streamline processes related to trade and land transportation.
The agenda also included awarding the Panamanian president the Juan Mora Fernández Order in the Grade of Grand Cross Gold Badge.
Tons of Waste Removed from Escudo de Veraguas Island for Environmental Restoration
Authorities removed more than 5 tons of waste from Escudo de Veraguas–Degó Island during a cleanup operation. The activity was supported by park rangers, who assisted in the restoration of this fragile ecosystem.
The National Aeronaval Service (SENAN) transported all the collected waste to Colón for proper final disposal.
The Ministry of Environment (MiAmbiente) reported that the area will remain closed for one year, with the possibility of extension, in order to allow its ecosystems to regenerate and restore the environmental balance needed in this natural reserve.
Panama Will Host World of Coffee 2026: Experts and Producers from Around the World Will Gather in the Country
The official launch of World of Coffee Panama 2026 was held this Wednesday at Tocumen International Airport. The event, scheduled for October 23–25, will bring together experts, producers, buyers, and coffee consumers from around the globe. With this international fair, Panama seeks to strengthen its position as a global reference not only in coffee quality but also in creating spaces for business and culture.
Organizers explained that this will be a gathering that integrates all actors in the industry. Ricardo Koyner, president of the Specialty Coffee Association, noted that the country will host “all parts of the coffee sector that exist worldwide,” including buyers, machinery manufacturers, producers, and coffee enthusiasts from multiple regions.
Koyner also highlighted that this event will help reinforce the country’s standing in the industry.
From the private sector, Juan Arias, president of the Chamber of Commerce, emphasized the collaborative work that makes an event of this magnitude possible. He stated, “Once again, we are demonstrating how the government, private sector, and coffee growers come together to ensure that a world-class event is carried out the way Panamanians know how to do things—well.”
Arias explained that the fair will promote not only the renowned Geisha coffee but also other high-quality varieties produced in Panama. In addition, during these days, the country will host the 2026 World Barista Championship—an event traditionally held in Europe and Asian countries such as Japan and Dubai, and which will be coming to Latin America for the first time.
