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

With a 3.1 cent increase, this week’s average price is $2.811, following last week’s 0.26 cent boost. The gains over the last two weeks come on the heels of a cumulative 16.3 cent decrease over the previous five weeks.

Transportation and logistics bellwether UPS began 2015 in solid fashion with first quarter revenue up 1.4 percent at $14.0 billion and operating profit up 11 percent at $1.7 billion. Earnings per share were up 14 percent at $1.12, which exceeded Wall Street expectations of $1.09, while revenue was shy of the Street’s $14.27 billion estimate.

Last week, the United States Department of Transportation took further steps to address various issues identified in recent train accidents involving crude oil and ethanol shipped by rail. The announcement was made by DOT with other DOT agencies, including the Federal Railroad Administration (FRA) and the Pipeline and Hazardous Materials Safety Administration (PHMSA).

Logistics Management Group News Editor Jeff Berman had an opportunity to interview Derek Leathers, President and Chief Operating Officer of Werner Enterprises, at this month's NASSTRAC Shippers Conference and Transportation Expo in Orlando. They discussed various aspects of the truckload market, including prices, fuel, and regulations.

During this webcast our presenters will apply the findings of the 23rd Annual Trends & Issues in Transportation and Logistics Study to the world of shipper-carrier decision making. They'll examine the primary aspects that will influence the future direction for shipper-carrier decision-making.

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 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA