The Panama Canal registered an increase in tonnage to 326.8 million Panama Canal tons (PC/UMS) during fiscal year 2014 ending on September 30, according to results released this week by the Panama Canal Authority. This figure represents a 2 percent increase compared to the 320.6 million PC/UMS tons registered in FY 2013.
The increase was primarily driven by the bulk carrier segment, which registered an 18.2 percent increase totaling 85.9 million PC/UMS tons, compared to the 72.7 million PC/UMS tons registered the previous year, according to the ACP. The dynamic movement of bulk through the Panama Canal in the last year is attributed to the surge in grain cargo flows from the US Gulf to Asia.
Other top market segments during FY 2014 included car carriers with 45.8 million PC/UMS and gas carriers with 6.0 million PC /UMS tons, which increased 6.7 percent and 24.2 percent, respectively.
The Panama Canal’s fiscal year runs from October 1 to September 30.
The Panama Canal is in the midst of the $5.2 billion expansion project which involves adding larger third of locks capable of handling vessels up to 49 meters (160 feet) wide, 366 meters (1,200 feet) long and 15 meters (50 feet) deep, or with a cargo volume of up to 170,000 DWT and 13,000 TEU. The project is expected to effectively double the Canal’s throughput capacity. The new Third Set of Locks are expected to be operational by January 2016.
A 37-year-old crew member was saved after spending three harrowing days adrift at sea following alleged abuse aboard a fishing vessel. Afif Efendy, a crew member of the fishing vessel...
British oil and gas major Shell on Tuesday settled a London lawsuit it brought against environmental group Greenpeace after activists boarded a Shell oil production vessel last year.
Satellite imagery show that Russian naval ships have left Moscow's base at Tartous on Syria's coast and some have dropped anchor offshore following the overthrow of Syrian President Bashar al-Assad by rebel forces.
December 10, 2024
Total Views: 16190
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.