{"id":18270,"date":"2016-11-15T14:08:50","date_gmt":"2016-11-15T19:08:50","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=18270"},"modified":"2016-11-15T14:08:50","modified_gmt":"2016-11-15T19:08:50","slug":"panama-canal-records-third-highest-annual-cargo-tonnage","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-canal-records-third-highest-annual-cargo-tonnage\/","title":{"rendered":"Panama Canal Records Third Highest Annual Cargo Tonnage"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/11\/2016-tonnage.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-18271\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/11\/2016-tonnage.jpg\" alt=\"2016-tonnage\" width=\"650\" height=\"303\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/11\/2016-tonnage.jpg 650w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/11\/2016-tonnage-300x140.jpg 300w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/a><\/p>\n<p>At the close of the 2016 fiscal year, the <a href=\"http:\/\/www.globaltrademag.com\/global-logistics\/liverpool-panama-ports-agree-partnership\"><u>Panama Canal Authority (ACP)<\/u><\/a> recorded the third-highest annual tonnage in its history, welcoming 330.7 million Panama Canal tons (PC\/UMS).<\/p>\n<p>A total of 13,114 vessels transited the Panama Canal during the fiscal period from October 1, 2015 to September 30, 2016. Of these, 238 were neopanamax vessels that took advantage of the newly opened expanded canal during the first three months of its operation, accounting for 18.2 million PC\/UMS.<\/p>\n<p>\u201cDespite the international shipping downturn this past year, we recorded one of the highest annual tonnage figures since the opening of the original canal 102 years ago,\u201d said Panama Canal Administrator Jorge L. Quijano. \u201cThis latest success reinforces the continued strategic importance of the route and the growing value that recent investments in the canal will bring to the maritime industry.\u201d<\/p>\n<div id=\"realted_posts_inline\">\n<p><strong>Related Content:<\/strong><\/p>\n<p><a href=\"http:\/\/www.globaltrademag.com\/global-logistics\/ocean-ports\/worlds-leading-port-operators-coordinate-green-activities-across-globe\"><img loading=\"lazy\" decoding=\"async\" class=\"attachment-custom-size297x150 size-custom-size297x150 wp-post-image\" src=\"http:\/\/19359-presscdn.pagely.netdna-cdn.com\/wp-content\/uploads\/2016\/10\/FIFTY-ROTTERDAM-PORT-AND-TERMINAL-EMPLOYEES-WORKED-ON-ENVIRONMENTAL-PROGRAM-297x150.jpg\" sizes=\"auto, (max-width: 297px) 100vw, 297px\" srcset=\"http:\/\/19359-presscdn.pagely.netdna-cdn.com\/wp-content\/uploads\/2016\/10\/FIFTY-ROTTERDAM-PORT-AND-TERMINAL-EMPLOYEES-WORKED-ON-ENVIRONMENTAL-PROGRAM-297x150.jpg 297w, http:\/\/19359-presscdn.pagely.netdna-cdn.com\/wp-content\/uploads\/2016\/10\/FIFTY-ROTTERDAM-PORT-AND-TERMINAL-EMPLOYEES-WORKED-ON-ENVIRONMENTAL-PROGRAM-140x70.jpg 140w\" alt=\"Environmentla cleanup at worldwide ports that handle shipments of export cargo and import cargo in international trade.\" width=\"297\" height=\"150\" \/><\/a><br \/>\n<a class=\"heading\" href=\"http:\/\/www.globaltrademag.com\/global-logistics\/ocean-ports\/worlds-leading-port-operators-coordinate-green-activities-across-globe\">World\u2019s Leading Port Operators Coordinate Green Activities Across Globe<\/a><\/div>\n<p>Expanded Panama Canal Inauguration<\/p>\n<p>The past fiscal year saw a number of important milestones for the Panama Canal, the most significant of which was the June 26, 2016 inauguration of the <a href=\"http:\/\/www.globaltrademag.com\/global-logistics\/expanded-panama-canal-yet-fill-container-transit-goals\"><u>expanded canal<\/u><\/a>. A crowd of more than 30,000 witnessed the first transit of a neopanamax vessel, the COSCO Shipping Panama, through the new lane that doubled the canal\u2019s cargo capacity. The event represented the culmination of more than nine years of construction and a renewed commitment by the Panama Canal to provide the maritime industry with the safest, most reliable and efficient service possible.<\/p>\n<p>Since opening, the expanded canal has seen major liners redirect service to the waterway to take advantage of the route\u2019s significant time savings. Thus far, nine neopanamax liner services have been deployed through the new locks, primarily on the U.S. East Coast-to-Asia trade route. Next month, an additional neopanamax liner service is expected to follow suit.<\/p>\n<p>Performance by Segment<\/p>\n<p>Analysis shows that the container segment continued to be the leading source of canal traffic, accounting for more than 36 percent of the total cargo received. In total, container vessels contributed 119.6 million PC\/UMS transited through the waterway, including 13.4 million PC\/UMS that passed through the expanded canal. The next leading segments by tonnage were bulk carriers (65.6 million PC\/UMS), tankers (55.0 million PC\/UMS), and vehicle carriers (46.7 million PC\/UMS).<\/p>\n<p>Another notable milestone was the introduction of the liquefied natural gas (LNG) segment during the final months of FY16. LNG carriers-which can now transit the waterway due to the expanded canal\u2019s wider, longer and deeper locks-contributed 1.5 million PC\/UMS and surpassed initial Panama Canal forecasts. The influx was also partially due to the unexpected emergence of U.S. shale production and the lifting of a 40-year-old ban, allowing the country to export oil for the first time in decades.<\/p>\n<p>Other additions in FY16 were the first crude oil shipments to the canal via Aframax and Suezmax vessels. The ACP did not anticipate this segment to transit so early in the expanded canal\u2019s infancy. However, the trend is one that has been received favorably and is expected to continue as the crude oil industry strengthens.<\/p>\n<p>Positioning the Canal for the Future<\/p>\n<p>In fiscal year 2017, the Panama Canal will continue its focus on enhancing the logistics infrastructure in Panama by advancing projects such as the <a href=\"http:\/\/www.globaltrademag.com\/global-logistics\/panama-canal-issues-rfp-corozal-container-terminal\"><u>Corozal Container Terminal<\/u><\/a>, which is currently in the bidding stage. This infrastructure project, along with others, will add to the waterway\u2019s already robust set of offerings for the maritime industry and further position Panama as the preferred route and regional destination for shippers.<\/p>\n<p>\u201cWhat we accomplished with the opening of the Expanded Panama Canal this past fiscal year was just the beginning of an ambitious plan to strengthen Panama\u2019s position as the logistics hub of the Americas,\u201d said Quijano. \u201cOur greatest strategic asset is our geographic location at the crossroads of the Americas. We are a link in a chain where reliability is a most valued attribute, and we are committed to continue to enhance it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the close of the 2016 fiscal year, the Panama Canal Authority (ACP) recorded the third-highest annual tonnage<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[242,10,12,241,39,34,33,62,219,245,243,7,246,244,44],"class_list":["post-18270","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-boca-chica-real-estate","tag-bocas-del-toro","tag-boquete","tag-boquete-real-estate","tag-buenaventura","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-move-to-panama","tag-offshore-real-estate-panama","tag-panama-papers","tag-panama-real-estate","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Panama Canal Records Third Highest Annual Cargo Tonnage - Blog and Newsletter<\/title>\n<meta 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