PANAMA CANAL POSTS RECORD REVENUES IN FISCAL 2002

PANAMA CANAL POSTS RECORD REVENUES IN FISCAL 2002    The Panama Canal Authority said Monday that the canal generated $588.8 million in tolls for fiscal year 2002, up $9.3 million from 2001.
   Alberto Aleman Zubieta, canal administrator, said the authority “has fully shifted from a non-profit entity to a business-oriented enterprise.”
   Ocean-going transits totaled 11,862 in 2002, for an average of 32.5 daily transits, down 2.8 percent from the previous year. Panamax-vessel transits increased 3.2 percent, to 4,565.
   As for cargo transported, 187.8 million tons moved through the Canal in 2002, down 2.8 percent. That downturn reflected a decrease in shipments of grain, coal, coke, chemicals, crude oil and lumber.
   The canal Authority reported an increase in shipments of iron and steel manufactures, phosphates and fertilizers, automobiles, trucks and vehicle parts. Containerized cargo was up 11.6 percent in 2001, in line with official forecasts.