Panama Canal and Tampa Port Authority renew MOU

The Panama Canal Authority (ACP) and the Tampa Port Authority (TPA) have renewed a strategic alliance with a renewed Memorandum of Understanding (MOU) that will increase cooperation, such as joint marketing, between the two parties.

The alliance will also seek to boost trade along the all-water route – the route from Asia to the US Gulf Coast via the Panama Canal.

The two entities first signed an MOU in 2005, which was renewed in 2008. The latest agreement is renewable for another five years.

The renewed agreement will also focus on the following areas:

• Data sharing to forecast future trade flows and market trends
• Market studies exchange that may benefit either party in future product development or business ventures
• Sharing of information related to modernisation and improvement projects that serve to benefit business and spur increased demand
• Technological interchange of advanced technology capabilities and programs to spur cutting-edge initiatives in the shipping and maritime community

"Renewing our partnership with the Panama Canal is an important element of our growth strategy as we continue to expand our container services, facilities and connectivity to major markets," said Tampa Port director Richard Wainio. "The latest phase of our terminal expansion is now complete and we are moving ahead with plans to quadruple capacity over the next few years. Construction of a new dedicated truck ramp connecting the Port and the Interstate highway system is well underway, as well as the Tampa Gateway Rail Terminal which will provide Florida’s first on-dock unit train capability."

The Port of Tampa is Florida’s largest port for cargo tonnage, and, over the last few years, the Tampa/Central Florida region has emerged as an important distribution centre gateway.