Panama Canal 4Q Metrics

Monday, November 17, 2008

The Panama Canal Authority (ACP) released fourth quarter (Q4) operational metrics for fiscal year (FY) 2008. These metrics are based on operations from July through September 2008, the fourth quarter of the ACP's 2008 fiscal year and are compared with Q4 of FY 2007.

In Q4 of FY 2008, tonnage decreased minimally, but tanker and passenger transits and tonnage jumped significantly. During Q4 of FY 2008, Canal Waters Time (CWT), the average time it takes a vessel to transit the Canal (including waiting time for passage), decreased nearly 10 percent to 26.73 hours from 29.61 hours in Q4 of FY 2007. CWT for booked vessels (those ships holding reservations) also dropped from 17.63 hours in Q4 of FY 2007 to 17.56 hours. Steady operating efficiency accounted for the reduced CWT this quarter.

While total Canal transits increased 0.6 percent during Q4 of FY 2008, from 3,374 to 3,393 transits, booked transits (excluding auctioned slots) rose 8.5 percent, from 1,884 to 2,044 transits. Panama Canal/Universal Measurement System (PC/UMS) tonnage dropped slightly by 0.4 percent, from 75.4 million PC/UMS tons in Q4 of FY 2007 to 75.1 million PC/UMS tons.

Additionally, when comparing Q4 of FY 2008 and Q4 of FY 2007, tanker transits rose 11.6 percent, from 475 to 530 transits, while passenger transits increased 25 percent. Similarly, tanker tonnage rose 18.4 percent, from 9.7 million to 11.5 million PC/UMS tons, and passenger tonnage increased 4.2 percent. Vehicle carriers decreased 6.2 percent in transits and 5.2 percent in tonnage, while dry bulk gained 2 percent in transits and 4.9 percent in tonnage.

"Though total transits and tonnage varied minimally this quarter, the Panama Canal experienced definite growth in other specific areas. Both passenger and tanker transits and tonnage are up considerably," said ACP Executive Vice President of Operations Manuel Benítez. "This quarter's decrease in CWT also indicates positive progress and reflects the ACP's concerted effort to maintain optimal efficiency rates."

The accident rate during Q4 of FY 2008 was 0.29 accidents per 1000 transits, down from 0.89 accidents per 1,000 transits during Q4 of FY 2007. An official accident is one in which a formal investigation is requested and conducted.


Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Moody Upgrades Port of Palm Beach

The Port of Palm Beach District announced that Moody’s Investors Service, Inc. upgraded the Port of Palm Beach District senior rating to Baa3 from Ba1, and reported the outlook to be stable.

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1683 sec (6 req/sec)