Panama Canal Revenues Increase

The Panama Canal reported that toll revenues and total ship transits rose in the period from October through January, the first four months of the fiscal year 2001. In a news release, the canal administration reported $202.4 million in tolls during the four-month period, which came in $2 million higher than expectations. The revenues during the period were $9 million higher than during the same period a year ago, when revenues were $193.4 million. Vessel transits through the 50-mile (80-km) waterway increased by 3.2 percent, compared with the year-ago period, to 4,160 transits, for an average of 33.8 per day. Transits by ships built to the maximum dimensions of the waterway's 1,000-foot (305-meter) by 110-foot (33.5-meter) locks grew 7.5 percent to 1,569 from 1,459 in the year-ago period. Net cargo tonnage through the canal reached 66.4 million long tons in the October-January period, for a 3.6 percent increase over the same period a year ago. The canal passed from U.S. hands to Panama on Dec. 31, 1999, but the administration continues to use the U.S. fiscal year. - (Reuters)