PRPA and Panama Canal Authority co-promoting Asia route

Friday, June 12, 2009, 4:00pm EDT

Philadelphia Business Journal - by Athena D. Merritt

Staff Writer

The Philadelphia Regional Port Authority and Panama Canal Authority agreed on Friday to jointly promote a shipping route between Asia and the city’s port via the Panama Canal.

The agreement, which is renewable after two years, will include joint marketing activities and sharing best practices and information, including market studies, information on improvements and/or modernization efforts and personnel training programs.

“The strategic alliance with the Panama Canal Authority will increase job opportunities at our regional ports and attract new business,” says PRPA Board Chairman John H. Estey.

“This collaboration aligns with our mission to become one of the most competitive U.S. East Coast seaports and has an increasingly marked contribution to the economic health of the state.”

Half of all of the cargo PRPA handled last year (1,906,343 long tons) was either on its way to or from the Canal last year, which is up 17,000 long tons over the prior year.

Expansion projects are under way in both areas. PRPA is sponsoring the five-to-seven year project to deeper the Delaware River Main Channel from 40 feet to 45 feet. The Panama Canal Expansion Program, expected to be completed in 2014, will add a new lane of traffic along the Canal that will allow for wider ships and double capacity.