Alabama port to expand trade with Panama

The Alabama State Port Authority (ASPA) has been named the ninth largest port in the nation in terms of tonnage and officials are hoping to expand trade with an agreement with Panamanian businesses, Euclid Infotech reported.

Alabama State Port Authority director James Lyons is scheduled to meet Panamanian business leaders next week to address boosting trading operations with the Central American nation.

The ASPA and the Panama Canal Authority (ACP) are scheduled to sign their first Memorandum of Understanding to expand opportunities along the All-Water Route between Alabama and Asia.

The Panama Canal is currently undergoing an expansion to double the waterway s capacity and allow more ship traffic. Panama s improvements on its canal served as one of the catalysts for capital investments undertaken at Alabama’s only deep water seaport.

In recent years, the ASPA completed a US$300 million container terminal in partnership with APM Terminals North America, a subsidiary of Maersk, and CMA CGM. Work began last year on a new turning basin in the lower harbour that will allow for vessels is excess of 900 feet in length to access the port’s deeper draft terminals.

A $112 million intermodal rail facility is also under construction in McCalla to capitalize on the port s five Class I railroads. Under a deal with Norfolk Southern, containers will move into the proposed McCalla facility on an existing Norfolk Southern rail line that originates at the state s port instead of along Interstate 65 via truck.
 
(Source: Cargo News Asia)