Panama Canal tonnage rises

Panama Canal tonnage rises The Panama Canal Authority (ACP) Wednesday reported that ship tonnage that transited the canal during its fiscal first quarter ended Dec. 31 increased 11.7 percent to 79.9 million Panama Canal/universal measurement system tons.
   ACP said total transits in the three-month period increased 8 percent to 3,568. Large vessel transits in the quarter jumped 14.6 percent to 1,968 transits.
   'These metrics illustrate that demand for the canal is steadily increasing, particularly among tankers, container vessels, vehicle carriers and refrigerated cargo,' said Capt. Arcelio Hartley, ACP’s acting director of maritime operations. 'It is clear that the value of the Panama Canal increases as demand rises, services improve and investment continues.'
   Canal waters time (CWT), defined as the average time it takes a vessel to navigate the canal including waiting time for passage, increased 45.7 percent to 29.97 hours from 20.57 hours. CWT for booked vessels (those ships holding reservations) increased 10.8 percent from 15.51 hours to 17.20 hours.
   The ACP attributed the longer waiting times to increased demand, the mix in size of vessels that transit the waterway and reduced capacity due to work at Gat'n Locks.