“Today’s ceremony reinforces a strategic collaboration with the Port of New Orleans,” said ACP Administrator/CEO Alberto Alemán Zubieta. “With the Canal’s expansion nearing completion, we remain dedicated to a shared vision for the shipping and maritime community.”
With over 6,000 vessels moving via the Mississippi River per year, the Port of New Orleans is considered to be one of the world’s busiest waterways. It is the only deepwater port in the United States served by six “Class One” railroads, giving port users direct and economical rail service to or from anywhere in the country. According to a 2004 study conducted by Martin Associates, the Port generates 160,498 jobs, $8 billion in earnings, $17 billion in spending and $800 million in taxes statewide.
“Through investment and commitment, the Port of New Orleans is readying itself for the increased cargo an expanded Panama Canal will bring to the Gulf Coast,” said Gary LaGrange, President and CEO of the Port of New Orleans. “We have historically maintained strong ties with our friends and partners in Panama and our continued relationship will enable both parties to provide an efficient, cost-effective transportation route from Mid-America to the world.”
In the past ten years, the Port of New Orleans has devoted more than $400 million to new state-of-the-art facilities such as wharves, terminals, marshalling yards, cranes and transportation infrastructure. Most recently, the Board of Commissioners of the Port of New Orleans invested over $108 million toward ten completed or ongoing construction projects in areas such as containerized cargo, break bulk cargo and cruising.
The Canal’s expansion remains on track following the recent pouring of permanent concrete work for the new Atlantic side locks.
The $5.2 billion expansion project will build a new lane of traffic along the Panama Canal through the construction of a new set of locks, which will double capacity and allow more traffic and longer, wider ships.
Photo shows:Panama Canal Authority Administrator/CEO Alberto Alemán Zubieta shakes hands with Gary P. LaGrange, President and CEO of the Port of New Orleans, after renewing the strategic alliance between the port authorities. Photo Courtesy of the Panama Canal Authority