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Panama Canal And Port Manatee Embark On First-Ever Strategic Alliance,
by Mike Godfrey, for LawAndTax-News.com, Washington
Thursday, May 21, 2009
To help spur growth and capitalize on the Panama Canal's expansion, the Panama
Canal Authority (ACP) and Port Manatee have embarked on their first-ever strategic
alliance.
In an official ceremony held in Panama City on May 18, ACP Administrator/CEO
Alberto Alemán Zubieta and Port Manatee Executive Director David L. McDonald
signed a Memorandum of Understanding (MOU) to boost joint marketing, and encourage
the exchange of information and business insight.
"We are excited to begin this chapter in our partnership with Port Manatee,
one of Florida's fastest-growing ports. This collaboration is beneficial as
we seek innovative ways to provide our customers with the most safe, reliable
and efficient service," said Mr Zubieta.
"Looking ahead to 2014 and the completion of the expanded waterway, we
anticipate growth in trade and the emergence of new economic opportunities -
definitely a win-win for our customers, the people of Manatee County and the
people of Panama," he added.
As part of the partnership, the ACP and Port Manatee may undertake a series
of activities to promote both the Port and Canal including joint advertisements
and competitive market analyses. The agreement demonstrates each organization's
commitment to encouraging increased trade and meeting the needs of today's maritime
and shipping industries.
"The MOU with the Panama Canal Authority formalizes a relationship we
have enjoyed for nearly 40 years," observed Mr McDonald after the ceremony.
"Our mutual customers have saved millions of dollars and countless man-hours
over the years by utilizing the world's most important shortcut. Together, we
can achieve great results for our existing and future customers with the expectation
of unparalleled growth opportunities," he continued.
Earlier this year, the Manatee County Port Authority approved the Port's USD750m
(GBP483m) master plan, which funds initiatives, such as berth expansions and
dredging projects, that could ultimately help the Port accommodate larger and
wider ships coming from the expanded Panama Canal.
The Canal's expansion project will build a new lane of traffic along the Panama
Canal through the construction of a new set of locks, which will double capacity
and allow more traffic and longer, wider ships.
Essentially, the Port Manatee plan focuses on attracting container traffic.
Analysts expect this segment to triple over the next 20 years. In fact, containerized
cargo now represents more than 50% of the waterway's "All-Water Route"
- extending from Asia to the US East and Gulf Coasts via the Panama Canal.
Fiscal year 2008 tonnage at Port Manatee totaled 8.3 million short tons with
16% of those goods traveling through the Panama Canal.
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