Peel Ports to boost Liverpool’s international trade with new strategic partnership

Port of Liverpool owner Peel Ports has entered into a Memorandum of Understanding (MOU) with the Panama Canal Authority (ACP).

The deal was announced this week as a group of senior government and business leaders from Panama travelled to Liverpool to cement economic ties with the city and the wider Northern Powerhouse.

Jorge L. Quijano, administrator of the Panama Canal Authority (ACP), signed the agreement on Monday (October 24) alongside Peel Ports Group chief exec Mark Whitworth.

During the visit, Panamanian leaders including Minister of Canal Affairs Roberto Roy and Deputy Administrator of Panama Maritime Authority Alejandro Moreno were shown around the port by Peel’s chief operating officer, Gary Hodgson.

They were joined by Dr Ian Collard, who is the UK’s Panama ambassador, and the UK’s Director of International Trade in Panama Ariel Perez Price.

It is hoped the strategic alliance will facilitate international trade and generate new business by promoting trade routes between Liverpool and South America’s west coast via the Panama Canal.

Peel Ports Group’s Mark Whitworth said: “Liverpool and Panama have both responded to the growth of the global container ship fleet with major investment programmes in recent years to accommodate newer generations of container ships.

“The opening of the expanded canal has the potential to open up new markets for trade and has the potential to shift international trade patterns.”

He continued: “We see exciting times ahead for Liverpool, with improved trade connectivity and business opportunities between the UK and South America, which will not only generate economic growth but also create jobs and increase revenues.”

Dr Ian Collard commented: “We have hit an exciting moment in the engagement between Panama and Liverpool.

“The Panama Canal Authority has made considerable investments in recent years to expand its lock gates and thereby unlock the potential for a new generation of Neo-Panamax vessels to cross quickly between the Pacific and Atlantic Oceans.”

He added: “At the same time, the development of Liverpool2 provides an opportunity for the Port of Liverpool to develop its role as a destination for these larger vessels and create a new stream of traffic across the Atlantic. Today is the start of what I hope will be a new chapter in Liverpool-Panama relations.”

Next month, Peel Ports will formally open its multi-million pound Liverpool2 container terminal.