ACP and SCPA Sign MOU

Tuesday, July 12, 2011

The Panama Canal Authority (ACP) and the South Carolina Ports Authority (SCPA), which owns and operates the Port of Charleston, renewed their ties today with the signing of a Memorandum of Understanding (MOU).

First signed in July 2003, the MOU, which is renewable for an additional three years, reinforces both entities’ commitment to growth and best practices that benefit customers, Panama and South Carolina. 

Areas of cooperation between the ACP and the SCPA include information-sharing, joint marketing efforts, exchange of data, capital improvement plans, training and technology. This partnership also will continue to promote the “All-Water Route,” the route from Asia to the U.S. East Coast via the Panama Canal.

Moreover, as the expansion of the waterway – with its expected 2014 completion – directs deeper, wider ships to the U.S. East Coast, the Port of Charleston is in a unique position to benefit. Charleston currently has the deepest harbor in the region and is already handling large ships with a capacity greater than 8,000 TEUs with drafts of up to 48 feet.

To accommodate that expected growth, the Port of Charleston is investing heavily in its facilities with a 10-year, $1.3 billion capital plan. Included in the plan are major upgrades to existing facilities and the construction of a new terminal that will boost port capacity by 50 percent. Simultaneously, business is on the rise, with a 17 percent increase in Charleston container volume in 2010.

And the Canal’s expansion remains on track following the recent commencement of the permanent concrete work for the new Atlantic side locks.

The $5.25 billion 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.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Newport News, ODU Partner for Bachelor's Degree Program

Huntington Ingalls Industries (HII) announced today that apprentices at Newport News Shipbuilding will now have the opportunity to earn a bachelor of science degree

Euronav Posts 62% Core Profit Increase

Belgian crude oil shipping group Euronav on Wednesday unveiled a 62 percent rise in first-quarter core profit as daily rates for its fleet rebounded from last year.

Modern Solutions Power Systems Conference

Thomas Alva Edison, who is considered to be one of the most prolific inventors in history, once said, “I find out what the world needs. Then I go ahead and try to invent it.

Ports

Mitsui O.S.K. Ship Ready To Leave Chinese Port

Japanese shipping firm Mitsui O.S.K. Lines Ltd said on Thursday that its ship, the "Baosteel Emotion" 226,434 deadweight-tonne ore carrier, is ready to leave

UASC Introduces New Asia - Europe Network

UASC has introduced its new Asia – Europe Network with three new services (AEC1, AEC3, AEC4), and two enhanced services (AEC8, AEC9). These services will broaden

Unique Technologies Improve Port Security

Practical results from the SUPPORT (Security UPgrade for PORTS) project, coordinated by BMT Group Ltd. and part-funded by the European Commission’s FP7 Security

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1085 sec (9 req/sec)