PORT OF HOUSTON AUTHORITY AND PANAMA CANAL AUTHORITY RENEW STRATEGIC ALLIANCE

News Release Panama Canal Authority June 24, 2011

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<DIV>PANAMA CITY,
PANAMA – The Panama Canal
Authority (ACP) and the Port of Houston Authority renewed their strategic
alliance yesterday during an official ceremony in Panama City, Panama. The
partnership, which was originally formed in 2003, is now extended for five years
until 2016. It aims to boost trade along the “All-Water Route” between Asia and
the U.S. Gulf Coast via the Panama Canal and the Port of Houston Authority.

 
Port Commission
Chairman James T. Edmonds and ACP Administrator/CEO Alberto Alemán Zubieta
signed the memorandum of understanding, inking the renewed partnership.

 
As a result of the
Panama Canal expansion project, the anticipated increase in containerized cargo
going to Houston could grow by 15 percent in the next few years, with a
projected 150 percent increase to a total of 4.5 million TEUs (twenty-foot
equivalent units) by 2030.
 
The $5.25 billion
expansion of the Panama Canal, which broke ground in 2007, includes the
construction of a new set of locks that will allow the transit of longer and
wider ships. 
 
The Port of Houston
Authority and the ACP will both celebrate their centennial in 2014 – the same
year that work on the waterway’s expansion is expected to be completed.

 
“The renewal of this
agreement signals an even stronger relationship between Houston’s port and
Panama,” said Port Commission Chairman James T. Edmonds. “We look forward to the
increased trade expected from the Canal’s expansion, jobs creation and enhanced
economic development in the region as we move toward another century of
progress.” 
 
”As we forge ahead
with the expansion of the Panama Canal, we are committed to strengthening our
partnerships with ports in the United States. The expansion will benefit ports
along the East and Gulf Coasts of the U.S., and we look forward to continuing
our relationship with the Port of Houston Authority,” said ACP Administrator/CEO
Alberto Alemán Zubieta. 
 
With this renewed
agreement, the two entities’ objective is to foster significant growth in trade
and to increase traffic through the Canal with such activities as:
• Joint Marketing
to generate new shipping business via promotions, advertising and public
relations activities;
• Data Sharing
to forecast future trade flows and market trends;
• Market Studies
Exchange that may benefit either party in future product development or
business venture;
• Sharing of
Information Related to Modernization and Improvement projects that serve as
a benefit to business and spur increased demand; and,
• Technological
Interchange of advanced technology capabilities and programs to spur
cutting-edge initiatives in the shipping and maritime community.
 
Leading business and
government officials, shipping dignitaries and distinguished guests, including a
delegation from the Greater Houston Partnership, attended the ceremony in Panama
City.  Delegates from Houston also included Harris County Attorney Vince
Ryan and city of Houston Controller Ronald Green. 
 
 
CONTACTS:     
(Panama)
Teresa Arosemena
Phone: (507)
272-1873 E-mail: <A
href="redir.aspx?C=87320836130049f489ae6d00d34b01e0&URL=mailto%3atarosemena%40pancanal.com">tarosemena@pancanal.com</A>
 
(U.S.) Tamika
Hawkins
Phone: (202) 350-6648
E-mail: <A
href="redir.aspx?C=87320836130049f489ae6d00d34b01e0&URL=mailto%3atamika.hawkins%40edelman.com">tamika.hawkins@edelman.com</A>
 
(Port Authority) Lisa
Ashley, Director, Corporate Communications
Office: (713)
670-2644   Cell:  (832) 247-8179      E-mail:
<A
href="redir.aspx?C=87320836130049f489ae6d00d34b01e0&URL=mailto%3alashley%40poha.com">lashley@poha.com</A>
 
About the Panama
Canal Authority (ACP) The ACP is
the autonomous agency of the Government of Panama in charge of managing,
operating and maintaining the Panama Canal. The operation of the ACP is based on
its organic law and the regulations approved by its Board of Directors. For more
information, please visit <A
href="redir.aspx?C=87320836130049f489ae6d00d34b01e0&URL=http%3a%2f%2fwww.pancanal.com%2f"
target=_blank>http://www.pancanal.com/</A>. You can also follow us on
Twitter: <A
href="redir.aspx?C=87320836130049f489ae6d00d34b01e0&URL=http%3a%2f%2ftwitter.com%2fthepanamacanal"
target=_blank>http://twitter.com/thepanamacanal</A>. 
 
 
About the Port of
Houston Authority
The Port of Houston
Authority owns and operates the public facilities located along the Port of
Houston, the 25-mile-long complex of diversified public and private facilities
designed for handling general cargo, containers, grain and other dry bulk
materials, project and heavy lift cargo, and other types of cargo. Each year,
there are more than 7,700 vessel calls at the port, which ranks first in the
U.S. in foreign waterborne tonnage and second in overall total tonnage. The port
authority plays a vital role in ensuring navigational safety along the Houston
Ship Channel, which has been instrumental in Houston’s development as a center
of international trade. The Barbours Cut Container Terminal and Central
Maintenance Facility are the first of any U.S. port facilities to develop and
implement an innovative Environmental Management System that meets the rigorous
standards of ISO 14001. The second recertification of those facilities in 2009
included an extension for the state-of-the-art Bayport Container Terminal. The
port authority is the first port authority in the world to receive ISO
28000:2007 certification for its port police and the perimeter security
operations at both the Barbours Cut and Bayport Terminals. Additionally, the
port is an approved delivery point for Coffee “C” futures contracts traded on
the New York Board of Trade’s Coffee, Sugar & Cocoa Exchange. For more
information, please visit <A
href="redir.aspx?C=87320836130049f489ae6d00d34b01e0&URL=http%3a%2f%2fwww.portofhouston.com"
target=_blank>www.portofhouston.com</A>.</DIV></BODY></HTML>