ACP signs accord

The Port of New Orleans and the Autoridad del Canal de Panamá (ACP) have renewed their commitment to mutual growth and cooperation by signing a memorandum of understanding to promote the use of an “all-water” interoceanic route from Asia to the East and Gulf coasts of the United States, official sources reported yesterday.

The memorandum, signed by ACP administrator Alberto Alemán Zubieta and Port of New Orleans president Gary LaGrange during a ceremony at the Panama Canal administration building, reinforces an alliance formed in 2003 with the signing of the first memorandum of understanding. The memorandum is renewable every three years.

The memorandum, Zubieta said, “underscores our strong economic and commercial bonds. Our common vision informs our strategy and creates new value based on information sharing and collaboration.”

LaGrange remarked that the Panama Canal is “a vital link that connects New Orleans to key trading partners in Asia and along the West Coast of South America. The Panama Canal Authority and the Port of New Orleans are making “substantial investments to improve the flow of commerce along these trade routes," he added.

Jim Campbell, chairman of the board of commissioners for the New Orleans port, said, "Our continuing partnership with the Panama Canal Authority will allow us to provide shippers with an efficient and cost-effective transportation route."