Panama Canal closes fiscal year 2020 with a 2% drop in transits and 4% in tonnage
The Panama Canal Authority (ACP) reported that it closed fiscal year 2020 with 475.1 million tons (CP-SUAB, volume measure of the Universal Vessel Tonnage System of the Panama Canal), which represents a decrease of 4% compared to projections, amid the COVID-19 pandemic .
Meanwhile, the transits registered a reduction of 2%, adding 13,369 compared to what was estimated in its budget.
The ACP indicated that the effects of the slowdown caused by the pandemic were felt more in the interoceanic highway between last May and July, with a reduction of around 20% in transits, mainly in the segments of passenger ships, vehicle carriers and transport. liquefied natural gas (LNG).
Transits and cargo movement began to normalize in August and September, the last two months of the fiscal year, which allowed to close with a total of 475.1 million tons.
At all times, the Canal's priority was to ensure the well-being of the nearly 10,000 men and women that make up its human team, who reaffirmed their commitment by adapting to the changes imposed by this pandemic, in order to guarantee the continuous operation of the highway, said the administrator, Ricaurte Vásquez Morales.
In addition to the pandemic, the fiscal year 2020 of the Panama Canal was also affected by the trade war between the United States and China, and the tightening of environmental policies in the maritime industry.
Compared with fiscal year 2019, the ACP highlighted, it is observed that there were very similar results, with a general increase in CP / UMS tonnage in the order of 1%, however, expectations for 2020 were optimistic.
Container ships remained the most relevant market segment in the Panama Canal, contributing 35% of Panama's CP / UMS tons with 166.3 million tons (CP-SUAB), followed by bulk carriers with 80.9 million tons, tankers / chemical tankers with 69.2 million tons, LNG with 46.4 million tons and gas carriers with 44.6 million tons.
On the other hand, the ACP highlighted that it closed the fiscal year by offering its clients, for the first time in 20 months, a draft of 50 feet, the maximum offered by the neopanamax locks, as a result of resource planning measures, the use of efficient water and recent rains in its watershed.
It also launched this month the process to have an optimized water resource management system, by announcing the specifications for the prequalification of those interested in participating in the tender for the design, construction and implementation of this project.
The ACP indicated that the effects of the slowdown caused by the pandemic were felt more in the interoceanic highway between last May and July, with a reduction of around 20% in transits, mainly in the segments of passenger ships, vehicle carriers and transport. liquefied natural gas (LNG).
Transits and cargo movement began to normalize in August and September, the last two months of the fiscal year, which allowed to close with a total of 475.1 million tons.
At all times, the Canal's priority was to ensure the well-being of the nearly 10,000 men and women that make up its human team, who reaffirmed their commitment by adapting to the changes imposed by this pandemic, in order to guarantee the continuous operation of the highway, said the administrator, Ricaurte Vásquez Morales.
In addition to the pandemic, the fiscal year 2020 of the Panama Canal was also affected by the trade war between the United States and China, and the tightening of environmental policies in the maritime industry.
Compared with fiscal year 2019, the ACP highlighted, it is observed that there were very similar results, with a general increase in CP / UMS tonnage in the order of 1%, however, expectations for 2020 were optimistic.
Container ships remained the most relevant market segment in the Panama Canal, contributing 35% of Panama's CP / UMS tons with 166.3 million tons (CP-SUAB), followed by bulk carriers with 80.9 million tons, tankers / chemical tankers with 69.2 million tons, LNG with 46.4 million tons and gas carriers with 44.6 million tons.
On the other hand, the ACP highlighted that it closed the fiscal year by offering its clients, for the first time in 20 months, a draft of 50 feet, the maximum offered by the neopanamax locks, as a result of resource planning measures, the use of efficient water and recent rains in its watershed.
It also launched this month the process to have an optimized water resource management system, by announcing the specifications for the prequalification of those interested in participating in the tender for the design, construction and implementation of this project.