Panama celebrates decade of canal management

PANAMA CITY, Panama, January 4, 2010 December 31, 2009, marked a decade of management of the Panama Canal by Panama. This vital trade artery has long stood as one of the world’s most recognized and respected engineering marvels and a crucial link in the global supply chain. Building on this, the decade of Panamanian stewardship and leadership has been evidenced by change, achievement and growth. By nearly every measure, the Canal role in world trade and value to global commerce has increased significantly in the past 10 years.

Through trade booms and economic recession, the ACP has steadfastly provided excellent service to our customers and world trade, said Panama Canal Authority (ACP) Board Chairman and Minister for Canal Affairs Romulo Roux. After the handover in 1999 and shifting our business model from a profit-neutral utility to a market-oriented business model, we never lost sight of our vision and responsibility to global trade. I believe that has been a key tenet of the Canal success.

After a decade of Panamanian management, ACP Administrator/CEO Alberto Alem Zubieta spoke of his vision for Panama hopeful future.

Relecting over the past decade, I am proud of what we have achieved, he said. ?roud of the employees of the ACP, proud of our accomplishments and proud of Panama. We have achieved goals that some thought were daunting and overcome obstacles that, at times, seemed insurmountable.<Korea Shipping Gazette>