Feature, Freight News, Sea

Panama Canal Registers Record Year

[ November 15, 2018   //   ]

The Panama Canal closed its 2018 fiscal year (FY 2018) with a record tonnage of 442.1 million Panama Canal tons (PC/UMS), which represents a 9.5 percent increase from the previous year.

With this tonnage, the Panama Canal surpasses the cargo projections of 429.4 million PC/UMS tons for FY 2018, as well as the 403.8 million PC/UMS tons registered in FY 2017.

“The Panama Canal continues to exceed our expectations, reinforcing every day the importance of the waterway’s expansion and its impact on global maritime trade,” said Panama Canal Administrator Jorge L. Quijano. “This is the results of the efforts of our committed workforce who made this an extraordinary year.”

The increase was driven by the transit of liquefied petroleum gas (LPG) and natural liquefied gas (LNG) carriers, containerships, chemical tankers and vehicle carriers.

During FY 2018, the Panama Canal increased the total available booking slots to eight daily for its Neopanamax Locks, offering greater flexibility and efficiency to customers choosing the Panama route.

The 2018 Fiscal Year began on Oct. 1, 2017, and ended on September 30, 2018.