The Panama Canal Authority (ACP) and the Port of Houston Authority (PHA) have announced a three-year renewal of their Memorandum of Understanding (MOU), which was first signed in 2003.
The two entities will continue to conduct joint marketing, share information and bolster technological interchanges.
One of the most vibrant and rapidly developing maritime trade hubs, the Port of Houston ranks first in the US in foreign waterborne tonnage and second in total tonnage. Between 2003 and 2007, general trade tonnage at the Port increased by almost 500%, resulting in a total trade growth of 97% in US dollar value.
As the Panama Canal continues to undergo its historic expansion, the ACP and the PHA look forward to increased growth of the ‘All-Water Route' - the route from Asia to the US East and Gulf Coasts via the Panama Canal - an economic driver for both the Canal and the Port.
The Canal expansion will create a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and accommodate longer, wider ships.
The two entities will continue to conduct joint marketing, share information and bolster technological interchanges.
One of the most vibrant and rapidly developing maritime trade hubs, the Port of Houston ranks first in the US in foreign waterborne tonnage and second in total tonnage. Between 2003 and 2007, general trade tonnage at the Port increased by almost 500%, resulting in a total trade growth of 97% in US dollar value.
As the Panama Canal continues to undergo its historic expansion, the ACP and the PHA look forward to increased growth of the ‘All-Water Route' - the route from Asia to the US East and Gulf Coasts via the Panama Canal - an economic driver for both the Canal and the Port.
The Canal expansion will create a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and accommodate longer, wider ships.