Gov. Nathan Deal said the wider set of canal locks that opened Sunday will enable the Port of Savannah to reinforce its market share for all-water trade from Asia.
Georgia Gov. Nathan Deal on Monday said the expansion of the Panama Canal was a “historic moment” for the Port of Savannah.
The Georgia Ports Authority (GPA) had a delegation at the inauguration of the opening on Sunday, led by GPA Chairman Jimmy Allgood.
“The completion of the Panama Canal expansion is one of the largest and most important civil works projects in recent memory,” Deal said in a statement. “The Port of Savannah is the leading East Coast trading partner with the Panama Canal, and today is a historic moment for both partners. The close ties Georgia and Panama share have helped to make the Port of Savannah the success it is today. Completion of the Savannah Harbor expansion is vital to our economic development and job creation not only in Georgia and the Southeast, but nationally as well.”
Panama Canal Authority Chief Executive Officer Jorge Quijano also noted the impact of Savannah on traffic through the canal.
“When you look at the share of loaded import containers destined for the East Coast via the Panama Canal, Savannah receives 30 percent,” he said. “We look forward to a continued strong rapport with the Port of Savannah and the state of Georgia.”
Experts project the larger ships now transiting the canal will provide savings of 20 to 40 percent per container slot, which GPA said would further increase Savannah’s competitive advantage for all-water trade routes from Asia.
The GPA and Panama Canal will renew an existing memorandum of understanding effective July 1, the parties said.
Georgia governor calls canal project ‘historic’ for Georgia
