Panama Canal sets record cargo tonnage in fiscal year 2017

The Panama Canal Authority announced that the waterway welcomed a record 403.8 million Panama Canal tons (PC/UMS) of cargo in Fiscal Year 2017, the largest amount of annual tonnage ever transited in its 103-year history.

The 22.2 percent increase from the previous year can be directly attributed to the added capacity provided by the Expanded Canal.

According to figures, the Panama Canal transited a total of 13,548 vessels during its FY17, representing a 3.3 percent increase compared to totals the year before.

Because larger Neopanamax vessels are now able to transit the Expanded Canal, the growth in traffic translated into a 22.2 percent increase in total annual tonnage from FY16, and helped the Panama Canal surpass the already ambitious cargo projection of reaching 399 million PC/UMS.

“This year’s success is a testament to the Expanded Canal’s success,” said Panama Canal Administrator Jorge L. Quijano. “These record figures reflect not only the industry’s confidence in the Expanded Canal, but also illustrate the Panama Canal’s continued ability to transform the global economy and revitalize the maritime industry.”

Source: Panama Canal Authority

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