Port Everglades and the Panama Canal Authority have renewed their memorandum of understanding to promote trade opportunities for five more years until 2021.

According to Port Everglades, the port and the authority will cooperate in areas such as joint advertising, data interchange and market analyses of the shipping industry. They will also continue promoting the all-water route from Asia to the East Coast of the US via the Panama Canal.

“The MOU encourages collaboration between Port Everglades and the ACP, which translates to providing our South Florida residents and visitors increased access to the growing global economy,” said Steven Cernak, chief executive and port director of Port Everglades. “We continue to share information on our modernization efforts that complement each other and to discuss ways to pursue joint marketing activities.”

The port and the ACP first signed an MoU in August 2009, according to Port Everglades.