For the moment Panama Canal is busier and faster
Panama Canal/Universal Measurement System (PC/UMS) tonnage increased 6.30 percent - to 79.7 million PC/UMS tons from 75 million PC/UMS tons. The steady climb in tonnage was complemented by an increase in traffic, including transits of panamax vessels (the largest vessel that can transit the Canal). Total Canal transits increased 4.7 percent - to 4,052 transits from 3,869. Transits of panamax vessels increased 3.90 percent - to 1,559 transits from 1,501. “The Panama Canal remains a vital and economically competitive transit system in the maritime and shipping industry. We are keeping up with heightened levels of demand for the waterway - handling more traffic and tonnage - while keeping transit time consistent, if not reduced,” stated ACP Maritime Operations Director Manuel Benitez. source: www.bulletinpa.com
The Panama Canal (Spanish: Canal de Panamá) is a major ship canal that traverses the Isthmus of Panama in Central America, connecting the Atlantic and Pacific Oceans. Construction of the canal was one of the largest and most difficult engineering projects ever undertaken.
July 23rd, 2008 at 2:46 pm
In a national referendum held last October, which the people of Panama favorable vote to its plan of investing $5bn, that is a sum equivalent to the country’s total annual budget for an expansion of Panama Canal and the surrounding tax-free trade zone just north of the city of Colon.
In continuing hunt for cheaper goods like North American retailers and consumers, the manufacturing prowess and export activity of South American economic powerhouses like Colombia and Brazil grows. Perhaps the canal gets busier and Panama gets richer.