Subscribe to our free, weekly email newsletter!


Port of Galveston is latest Panama Canal partner

The MOU aims to facilitate international trade and generate new business by promoting the “All-Water Route,” the route from Asia to the U.S. East and Gulf Coasts
By Patrick Burnson, Executive Editor
October 28, 2010

Yet another partnership with a U.S. port has been initiated by the Panama Canal Authority.

Panama Canal Authortiy (ACP) Administrator/CEO Alberto Alemán Zubieta and Port of Galveston Director Steven M. Cernak signed a Memorandum of Understanding (MOU) during an official ceremony in Panama City, Panama. To date, several similar strategic alignments have been established by the ACP

The MOU aims to facilitate international trade and generate new business by promoting the “All-Water Route,” the route from Asia to the U.S. East and Gulf Coasts via the Panama Canal.

“There is a real reason U.S. West Coast ports should be concerned,” said Mary Brooks, a professor and William A. Black Chair of Commerce at Dalhousie University in Nova Scotia. “Our researchers are gathering data now to determine if shippers will opt for all-water service in the future.”

While Galveston is hardly a major ocean cargo gateway, it does facilitate the movement of a varied mix of domestic and international goods valued at more $1 billion a year.

This strategic alliance is valid for two years and is renewable upon mutual agreement.

The Panama Canal, which recently commemorated its one-millionth transit, is currently undergoing a historic $5.25 billion expansion. The project will add a new lane of traffic with the construction of a new set of locks, doubling the capacity of the waterway and allowing for the transit of longer, wider ships.

“We look forward to building upon our existing relationship with the Port of Galveston, which is a strategic geographic partner located only nine miles from the open Gulf of Mexico,” said Alemán Zubieta.

About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Shippers and other ocean cargo carrier stakeholders should be cheering the announcement made today by The U.S. Coast Guard, as it formally notified the International Maritime Organization through a Declaration of Equivalency that the United States position on SOLAS is that there are multiple methods to submit the combined cargo and container weight (Verified Gross Mass or VGM).

The proposed $4.8 billion acquisition of TNT Express N.V. by FedEx took a major step closer to becoming official today, with the company and TNT announcing today that they have received unconditional approval of the offer from the Ministry of Commerce People’s Republic of China (MOCFCOM).

March shipments at 798,180 trailed February by 12 percent and were down 19 percent annually. For the entire first quarter, shipments were relatively flat annually, rising 0.27 percent to 2,587,988.

OCEMA says it has placed a priority on working with other stakeholders to find operational solutions that will help U.S. exporters, carriers, and marine terminals prepare for the implementation of the SOLAS Verified Gross Mass (VGM) rule.

The first quarter is typically the slowest period of freight demand for LTL carriers. With a few notable exceptions, that was reflected in first quarter earnings reports of the major publicly held LTL carriers.

Article Topics

News · Container · Trade · Shipping · Cargo · Seaports · Panama Canal · Galveston · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA