Panama Canal Joins with Port Manatee

May 27, 2009
The first-ever alliance between the two is aimed at spurring growth and taking advantage of the Panama Canal’s expansion.

In the Memorandum of Understanding (MOU) signed by the Panama Canal (ACP) and Port of Manatee, the two pledge to boost joint marketing and encourage the exchange of information and business insight. As a component of the agreement to promote them both, the two entities may undertake joint advertisements and competitive market analysis.

Port Manatee is Florida’s fourth largest. Focusing on attracting containerized cargo, earlier this year its Port Authority approved a $750 million master plan that includes provision for berth expansion and dredging to accommodate the larger, wider ships that will be moving through the expanded Panama Canal.

In signing the MOU, ACP Administrator and CEO, Alberto Alemán Zubieta observed, “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.”

During its fiscal year 2008, Port Manatee handled 8.3 million short tons of freight, 16% of which moved through the Panama Canal.

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