THE Panama Canal clocked up a record tonnage of 442.1 million Panama Canal tons (PC/UMS) in its 2018 fiscal year, representing a year-on-year increase of 9.5 per cent and surpassing earlier cargo projections of 429.4 million PC/UMS tons for FY2018.
Panama Canal administrator Jorge Quijano said the record tonnage reinforces 'the importance of the waterway's expansion and its impact on global maritime trade,' reported American Shipper.
The Panama Canal Authority (ACP) attributed the increase in cargo volume to the transit of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) carriers, containerships, chemical tankers and vehicle carriers.
The container segment continued to serve as the top market segment for tonnage through the canal, accounting for 159 million PC/UMS tons of the total cargo, of which 112.6 million PC/UMS tons transited the expanded canal, ACP said.
Tankers, which include LPG and LNG carriers, contributed 130.3 million PC/UMS tons to the total, followed by the bulk carrier segment with 73.7 million PC/UMS tons and vehicle carriers with 49.5 million PC/UMS tons.
A total of 62.8 per cent of the cargo transiting the canal had its origin or destination in the United States.
Panama Canal administrator Jorge Quijano said the record tonnage reinforces 'the importance of the waterway's expansion and its impact on global maritime trade,' reported American Shipper.
The Panama Canal Authority (ACP) attributed the increase in cargo volume to the transit of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) carriers, containerships, chemical tankers and vehicle carriers.
The container segment continued to serve as the top market segment for tonnage through the canal, accounting for 159 million PC/UMS tons of the total cargo, of which 112.6 million PC/UMS tons transited the expanded canal, ACP said.
Tankers, which include LPG and LNG carriers, contributed 130.3 million PC/UMS tons to the total, followed by the bulk carrier segment with 73.7 million PC/UMS tons and vehicle carriers with 49.5 million PC/UMS tons.
A total of 62.8 per cent of the cargo transiting the canal had its origin or destination in the United States.