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Officials from the Port of Cleveland have signed a strategic agreement with those of Shannon Foynes Port Company (SFPC), Ireland’s second-largest port operator, to strengthen trade ties and unlock new business and economic opportunities between the Great Lakes region and Europe.
The memorandum of understanding (MOU) is built on the strong historical and economic ties between the Great Lakes Region and the West of Ireland. As evidenced by shipping as part of the Cleveland-Europe Express, the Port of Cleveland is strategically located to provide direct access to the St. Lawrence Seaway and the Great Lakes, a $6 trillion regional economy.
“What makes this partnership especially powerful is the unique positioning of our two ports,” said David Gutheil, interim president and CEO of the Port of Cleveland, in a written statement.
“Together we provide access to two huge international markets that present enormous opportunity for business development,” Gutheil said. “In signing this MOU, we want to explore every opportunity to strengthen that connection and drive business development on both sides of the Atlantic. We’re genuinely really excited about what’s ahead and confident in the mutually benefits this collaboration can deliver.”
Shannon Foynes is located on the Shannon Estuary, one of Europe’s deepest natural harbors and adjacent to the world’s busiest shipping lanes. The port is strategically positioned as a key cost effective and efficient European gateway for transatlantic trade.
“This MOU reflects the ambition of Shannon Foynes Port,” said Patrick Keating, CEO of Shannon Foynes Port. “While we provide critical access for trade to and from Ireland, we are also a key gateway into and out of Europe for transatlantic trade. That is what essentially underpins this agreement with the Port of Cleveland as we will together seek to advance the enormous, each-way trade opportunity from this global trade crossroad.”
Both ports offer cost-effective, multimodal access to major commercial and industrial markets, providing a unique value proposition to companies seeking faster, greener and more reliable alternatives to traditional coastal shipping routes. The move is very much in keeping with U.S.-Irish trade relations as it seeks to support and promote international trade between the two.
Cuyahoga County Executive Chris Ronayne described the partnership between the Port of Cleveland and Ireland’s Shannon Foynes Port as an exciting development for Cuyahoga County’s economy.
“The agreement will open new opportunities to grow our economy, attract investment, and enhance our global trade connections,” Ronayne said. “By strengthening our international relationships, we’re helping local businesses reach new markets and bringing long-term economic benefits to our communities.”
“We look forward to working with the Port of Cleveland, which has similar ambition and values to us, to explore the full breadth of these opportunities for the greater good of our respective organizations and communities we serve,” Keating said.
The Port of Cleveland continues to make tens of millions of dollars in improvements to the General Cargo Terminal facilities next to Downtown Cleveland. And it is making millions of dollars worth of investments to modernize the Cleveland Bulk Terminal on Whiskey Island, west of the Cuyahoga River.
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