News Release

3rd May 2001

Panama Ports Company, S.A. Orders More RTG’s


[Panama – May 3rd 2001] Panama Ports Company, S.A. (PPC) announces the acquisition of seven Rubber Tyred Gantry Cranes (RTG’s) for the Port of Balboa Container Terminal.

The new cranes, manufactured by Noel Crane Systems GmbH from Germany, will be capable of stacking containers one over five high and will straddle six rows of containers plus a roadway. The Balboa Container yard will be serviced by a total of sixteen RTG’s.

The seven new RTG’s will be delivered in August 2001. The 8 wheel machines are fitted with AC drive engineering supplied by Noell based on Siemens inverters. They will be powered by Cummins diesel engines.

Commenting on the order Alejandro Kouruklis, General Manager of Panama Ports Company, S.A., said:

“These new container yard cranes will significantly increase the Port of Balboa’s capacity and efficiency and will enable us to meet the requirements of our customers. We are also ordering this equipment to be in a position to handle further increases in traffic in the coming years.”