Panama Canal Authority 2009 Q2 Metrics

Thursday, April 16, 2009

The Panama Canal Authority (ACP) released second quarter (Q2) operational metrics for fiscal year 2009. In Q2, Canal Waters Time (CWT), the average time it takes a vessel to transit the Canal, including waiting time for passage, decreased significantly, while total transits and net tonnage remained nearly flat. These metrics are based on operations from January through March 2009, the second quarter of the ACP's 2009 fiscal year, and are compared with Q2 of fiscal year 2008.

Average CWT decreased 27.9 percent – to 26.22 hours from 36.39 hours. CWT for booked vessels (those ships holding reservations) decreased 19.5 percent – to 15.83 hours from 19.66 hours. The drop in CWT can be attributed to the ACP’s efficient operations and a slight decline in transits.

Total Canal transits slightly decreased 1.4 percent – to 3,914 transits from 3,971. Transits of supers, larger ships that require greater time and navigation skills to transit the Canal, declined 2.9 percent – to 1,815 transits from 1,869.

With regard to key segments, general cargo, dry bulk and tanker transits increased, while refrigerated (reefers), container, vehicle carrier and passenger transits decreased. 

Panama Canal/Universal Measurement System (PC/UMS) tonnage remained nearly constant with a slight 3.3 percent decline – to 75.7 million PC/UMS tons from 78.4 million PC/UMS tons.

The official accident rate declined 32.4 percent to 1.02 accidents per 1,000 transits from 1.51 per 1,000 transits. An official accident is one in which a formal investigation is requested and conducted.

Utilization of the booking system decreased 15.6 percent – to 79.56 percent utilization from 94.31 percent.

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