Canadian Pacific Kansas City (CPKC) and Lanco Group/Mi-Jack have sold their respective stakes in the Panama Canal Railway Company (PCRC) to APM Terminals, part of the A.P. Moller - Maersk Group.
PCRC has operated as a 50/50 joint venture between Kansas City Southern, now part of CPKC, and Lanco Group/Mi-Jack since the concession was awarded in 1998 by the Republic of Panama. The company runs both freight and passenger rail services along the 47-mile route parallel to the Panama Canal, connecting Colón on the Atlantic side with Balboa on the Pacific.
According to publicly disclosed figures, PCRC generated USD 77 million in revenue and USD 36 million in EBITDA in 2024.
With this move, CPKC exits its involvement in Panama’s north-south rail corridor, citing the divestiture as part of its asset reallocation process. The company continues to operate a rail network spanning Canada, the United States, and Mexico. Meanwhile, Lanco Group/Mi-Jack also concludes its participation in the Central American railway venture.
APM Terminals, headquartered in The Hague, currently manages 60 terminal operations in 33 countries, including 14 in the Americas Region. The addition of PCRC is expected to integrate into the company’s intermodal and container handling network.
The Panama Canal Railway remains a key element of the country’s logistics system, offering an alternative to canal shipping for certain cargo flows. The rail link is frequently used for container movements between terminals on either side of the isthmus.
