Panama Canal Authority Forms Alliance with Massachusetts Port Authority

Friday, October 10, 2003
With more than 60 percent of Panama Canal traffic originating from or traveling to the East Coast of the United States, the Panama Canal Authority (ACP) announced a historic move to boost trade by striking a strategic alliance with the Massachusetts Port Authority (Massport). The alliance will increase cooperation -- such as joint marketing -- between the Panama Canal and the Port of Boston; it will also seek to boost trade along the "All-Water Route," the route from Asia to America's East Coast via the Panama Canal. Today's event between the ACP and Massport, held at the Exchange Conference Center, was highlighted by a formal signing of a Memorandum of Understanding (MOU) by the Canal Administrator, Alberto Aleman Zubieta, and Massachusetts Port Authority Chief Executive Officer Craig Coy. By mutual agreement the ACP/Massport MOU will continue for one year and will be renewable on an annual basis. Leading business and government figures from Massachusetts, shipping dignitaries and distinguished guests attended the ceremony. During the past few years, containerized cargo transiting through the Panama Canal on the Asia-U.S. East Coast route has experienced significant growth as a result of an increase in demand for all-water services by shippers, creating new jobs and contributing to economic development. The Port of Boston is currently served by weekly direct ocean carrier service to and from the Far East via the Panama Canal. "Having recently shifted our model to run the Panama Canal as a business, this cooperation agreement with the Massachusetts Port Authority is an example of the ACP's aggressive strategy to improve services for our customers, generate economic development in Massachusetts and increase trade along the 'All-Water Route,'" said Canal Administrator Alberto Aleman Zubieta. Massport saw 266 container vessels make call in Boston in 2002, a 33 percent increase from 2001. The Port of Boston, the oldest continuously active port in the Western Hemisphere, processed more than one million metric tons of containerized cargo in 2002, an increase of four percent over 2001. During the first six months of 2003, the Conley Terminal at Massport saw a 14 percent increase to 90,117 containerized cargo twenty-foot equivalent units (TEUs) over the equivalent period in 2002, again emphasizing the growth of the Port of Boston as a major international shipping center and a critical element of New England's transportation infrastructure.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

DMCC, DMCA to Promote Dubai’s Maritime Sector

DMCC has signed a Memorandum of Understanding (‘MoU’) with the Dubai Maritime City Authority to help promote Dubai to the maritime sector as a global destination

Duke Energy to Help Develop Jeffersonville Port Site

Duke Energy Indiana has selected a 140-acre parcel of land inside the Port of Indiana-Jeffersonville in Clark County for the utility's 2015 Site Readiness Program.

Savannah Harbor Expansion Project Update

Lt. Gen. Thomas Bostick, commander of the U.S. Army Corps of Engineers, visited the Port of Savannah on Thursday, for an update on the Savannah Harbor Expansion Project (SHEP).

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1018 sec (10 req/sec)