Panama Canal Heads Meet in Virginia

 16 May 2018 08.20am

The board of directors and the Panama Canal Authority (ACP) advisory board have met in the US city of Norfolk in Virginia to address issues pertaining to the interoceanic highway and discuss opportunities for future growth.

The boards gathered on May 15, 2018, to discuss issues relevant to the Panama Canal, such as its strong financial standing, current operations and projects, industry trends that could affect its performance, planned growth, and the development of complementary and future business opportunities.

ACP’s planning session — one of two held annually by the boards — take place once in Panama and again in a city of importance within the global maritime industry.

Port of Virginia is an important port that receives a significant amount of cargo, primarily containerized cargo.

Read a Port Technology technical paper about the traffic and plans for Panama Canal Authority one year after the expansion of the canal

In 2017, the port handled around 2.8 million TEUs per year, with 1.27 million TEUs in imports and 1.01 million in exports.

The growth of the port in relation to the previous calendar year was 7%.

During their time in Virginia, the advisory board and board of directors will tour the operations of the Port of Virginia, as well as several regional distribution centres including Target and the California Cartage Company located in Suffolk, Virginia, and Givens in Chesapeake, Virginia.

Read more: The ACP transited three liquefied natural gas vessels through its Neopanamax locks on April 17, 2018, marking a first for the waterway

  Cargo Volumes and Throughput, Global Economy/Trade, Port Planning, Ports, Security and Logistics, Shipping