Panama Canal moves a record 300 million tons of cargo in fiscal 2007

Thursday, October 04 2007 @ 06:28 am EDT

Contributed by: Don Winner

International Herald Tribune" - The Associated Press - PANAMA CITY, Panama: The Panama Canal moved a record 300 million tons of cargo in fiscal year 2007, officials said Tuesday. The record, set Sept. 20, surpassed the previous record of 293.3 million tons moved in the previous fiscal year, which ended on Oct. 1. Officials also registered a 3.7 percent jump in crossings, with 14,721 ships moving through the canal. "This demonstrates the growing demand for our services and the efficient operation of the oceanic waterway," the canal authority said in a news statement. The statistics came weeks after the canal inaugurated its biggest expansion project since it opened 93 years ago. On Sept. 3, officials broke ground on a new set of wider locks that will allow wider vessels to move between the Atlantic and Pacific, doubling the 50-mile (80-kilometer) waterway's capacity. The new locks will cost about US$5.25 billion (3.7 billion) and are expected to be done by 2015.

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