Hi Frank,
This is a beautiful image and I think, on the whole, you have got most things right with it.
The horizon line works well for me, there is a good balance between golden cliff and the seascape and I love the timing on the waves along with the converging lines within them. As composite panorama photos go, this is a good effort.
The one question I would raise though, is the colour of the sky; rather than being blue, it is starting to verge on to a purple colour. There are certain times of the day when I would expect to see purple in the sky, such as dawn and dusk; late in the afternoon when it was still sunshine in the sky however, is not one of them.
To make this image look more convincing I would go back to your original file, select the sky and use the colour balance tool to gently nudge this back to blue.
Otherwise, good effort.
Cheers, Anthony.