The Panama Canal Authority says non-containerized business drove growth.
The Panama Canal Authority said tonnage utilizing the shortcut between the Atlantic and Pacific oceans increased 2 percent to 326.8 million tons during fiscal year 2014, which ended Sept. 30. Tonnage was 320.6 million tons in fiscal year 2013.
The Canal Authority measures tonnage using a special formula that estimates cargo contents based on the estimated volume of vessels transiting the waterway. The tonnage figure, which is used as the basis for charging tolls, is applied to a vessel whether it is fully laden or not.
The increase was primarily driven by the bulk carrier segment, which registered an 18.2-percent increase totaling 85.9 million Panama Canal Universal Measurement System tons, compared to 72.7 million tons the previous year, as grain shipments from the U.S. Gulf region to Asia surged.
Ro/ro vessel tonnage increased 6.7 percent to 45.8 million tons, while gas carriers increased 24.2 percent to 6 million tons.
Total volume fell short of the record 333.7 million tons registered in 2012.
Panama Canal handled more cargo in FY’14
