Under the MoU, the Port of Baltimore and the Suez Canal Authority may undertake joint marketing efforts, share data on predicted trade flows and exchange information on training programmes.
“With the Panama Canal near capacity, the Suez Canal will play a much larger role for US East Coast-bound goods coming from Asia and the Far East. This agreement shows our desire to have a good, close working relationship with the Suez Canal Authority, as its importance to the East Coast supply chain grows,” said Richard Powers, director of marketing at the MPA.
In other developments, the Port of Baltimore has begun importing and exporting Subaru vehicles, in a bid to become the top auto port in the US. It has taken over the business after Subaru decided to switch its vehicle processing operation from Newport News, VA, and expects to handle up to 31,000 vehicles initially, including Subaru Tribeca models manufactured in Lafayette, Indiana.