Panama Canal says waiting time down
The Panama Canal Authority said ships took less time to transit the waterway in its fiscal year ended Sept. 30.
The canal said “canal waters time” — the average time it takes a vessel to navigate the canal including waiting time — fell 7.4 percent to 27.8 hours for all ships and 4.3 percent to 17 hours for ships with reservations. Ships with reservations account for more than half the transits and the booking system is 95 percent utilized.
The canal said 14,721 vessels transited the canal during the fiscal year, 3.7 percent more than in the prior year. Tonnage, as measured by the canal’s own Panama Canal/Universal Measurement System, was up 5 percent.