The meeting marked the transition of the Advisory Board chairmanship from Admiral William J. Flanagan to Danish business leader Tommy Thomsen and welcomed two new members.
The Panama Canal Board of Directors and Advisory Board today began their 41st meeting to review the global maritime trade environment and the progress of the Canal’s strategic initiatives.
The meeting, which will conclude on Wednesday, also provides the setting for a leadership transition within the Advisory Board. Admiral William J. Flanagan concluded his tenure as chairman after years of valuable contributions to the Panama Canal and was succeeded by Danish business leader Tommy Thomsen. With more than three decades of experience in the maritime and shipping industry, Thomsen currently leads Lauritzen Fonden, one of Denmark’s leading corporate foundations.
In addition, the Advisory Board now includes two new members: Oscar Hasbún Martínez, CEO of Compañía Sud Americana de Vapores (CSAV), and Dr. Jean Paul Rodrigue, professor at Texas A&M University at Galveston.
The agenda began with a tour of the Cocolí Locks, the Integrated Operations Control Center (CICO), and part of the area where two complementary projects will be developed: the gas pipeline and the logistics corridor extension.
During the visit, Panama Canal Administrator Ilya Espino de Marotta and Deputy Administrator Miguel Lorenzo presented progress on these initiatives, as well as the operations of the locks and the control center, from which vessel transits through the waterway are coordinated.
“The Advisory Board’s recommendations are a valuable input into the decisions we make regarding the Canal’s future. Its perspective helps us anticipate changes in global trade and ensure a reliable, sustainable, and competitive Canal for future generations,” said Minister for Canal Affairs and Chairman of the Board of Directors José Ramón Icaza.
For his part, Advisory Board Chairman Tommy Thomsen stated, “The Panama Canal faces an environment of profound change, yet it is uniquely positioned to remain a key connector of global trade. This Board will continue contributing its expertise to support that journey.”
As part of the program, members of both boards will discuss key issues for the waterway, including the operational water management strategy in response to the El Niño phenomenon, revenue diversification, and the Canal’s competitiveness.
New Members
Oscar Hasbún Martínez holds a degree in business administration and economics from the Pontifal Catholic University of Chile and has nearly fifteen years of experience in the global logistics industry. He is CEO of Compañía Sud Americana de Vapores, the largest shareholder in German shipping company Hapag-Lloyd, and Chairman of the Board of SM SAAM, a leading provider of tugboat services in the Americas. He also serves on the boards of Hapag-Lloyd (Germany), CCU (Chile), and Nexans (France), among others.
Jean Paul Rodrigue is a professor in the Department of Maritime Business Administration at Texas A&M University at Galveston and holds a doctorate in Transport Geography from the University of Montreal. He is a prominent member of the PortEconomics.eu initiative and the International Association of Maritime Economists, and from 2013 to 2018 served on the Advisory Board of the United States Merchant Marine Academy.
About the Advisory Board
The Advisory Board, established in December 1999 under the Panama Canal Organic Law (Law 19 of 1997), serves as a high-level advisory body whose primary responsibility is to provide strategic recommendations to the Panama Canal Board of Directors and Administration.
Its role is essential to the financial health of the Panama Canal, advising on key decisions that help ensure the Canal’s competitiveness in the global marketplace, the long-term sustainability of its operations, and the optimization of its resources.
The Advisory Board is composed of experts from a range of sectors, including transportation, global trade, telecommunications, construction, banking, and academia.
