Dr. Ricaurte Vásquez Morales has been appointed as the new Administrator of the Panama Canal.
Vásquez was sworn-in during a ceremony held at the Panama Canal Administration Building in Panama City on Thursday, becoming the fourth Panamanian Administrator of the waterway shortly before it celebrates its 20th year under Panamanian administration on December 31, 2019.
With more than 30 years of experience in financial and international capital market management and in the public sector, Vásquez takes over the role from Jorge L. Quijano, who was Canal Administrator since September 2012. Quijano lead the waterway until the finalization of its Expansion Program, the largest enhancement project ever undertaken by the waterway.
Since its inauguration in 2016, the Expanded Canal has proven itself as a tremendous feat of engineering and transformative force for global trade. Key segments like liquefied petroleum gas (LPG) and liquefied natural gas (LPG) have taken advantage of the route’s ability to accommodate the larger vessels, offering a highly competitive route for U.S. gas deliveries to major Asian, South and Central American importers with significant reductions in voyage time.
“I will leave the Canal well-positioned for its next era of growth and have tremendous confidence in the new leadership’s ability to build off our strong foundation. If my 44-year long career at the waterway taught me anything, it’s to never underestimate our team’s ability to exceed expectations, and I look forward to watching the waterway’s next chapter unfold,” Quijano concluded.
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