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.

(www.pancanal.com)

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

Finance

Fleet Growth Weighs on Product Tanker Earnings

Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term,

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Obama Pushes for U.S. Icebreakers

President Barack Obama on Tuesday will propose a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Port Authority Salvage 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: 0.3537 sec (3 req/sec)