Rotterdam And Panama Canal Strike Deal For International Trade

international trade

The Panama Canal and the Port of Rotterdam have signed a Memorandum-of-Understanding (MoU) to promote international trade between Europe and the West Coast of South America.

According to a statement, the two parties will work closely to optimize operations while encouraging economic growth and the exchange of information. This will be particularly relevant o new business development opportunities, including logistics parks and port development projects.

Explore the Port of Rotterdam’s solutions for ports and terminals by visiting their AIS portal

The MoU is renewable after two years and will allow both parties to share information on their technological capabilities, particularly around increasing efficiency and cost reduction for international trade.

Additionally, the MoU commits both to share a commitment to sustainable shipping. They have already collaborated closely through their work as members of the Global Industry Alliance (GIA), an initiative of the IMO.

The agreement has come at a time of significant growth for the Port of Rotterdam and the Panama Canal. For example, the Port of Rotterdam broke its half-year transshipment record when it carried 240.7 million tons, an increase of 3.4% on 2018.

The Panama Canal set a new record of 1.76 million Panama Canal tons on August 16, 2019, shortly before welcoming the 7,000th Neopanamax transit since the inauguration of the Expanded Canal in 2016.

Rafael Pirro, Vice President for Complementary Business, Panama Canal, said: “The Expanded Canal continues to reshape global trade routes today, reinforcing our position as the logistics hub of the Americas.

“We are proud to be partnering with the Port of Rotterdam to ensure our customers experience the most efficient, consistent service and develop new business opportunities.”

The Port of Rotterdam has recently confirmed that the first World Ports Climate Action Programme (WPCAP) International Climate Congress will take place in May 2019, an event that will see major global hubs come together to make operations more environmentally friendly.

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