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Wednesday, June 26 2019 @ 02:33 PM UTC

Panama Canal's cargo increases 5 percent in 2007 to 312.6 million tons

Canal Daily OperationIHT.com PANAMA CITY: The Panama Canal moved a record 312.6 million tons of cargo in fiscal year 2007, a 5 percent increase over the year previous, officials said Tuesday. The cargo was carried by 14,721 ships, a 3.7 percent increase over the number of crossings in 2006. The canal closed out its fiscal year on Sept. 30. Officials this month announced that the canal had surpassed its previous cargo record of 293.3 million tons on Sept. 20 but the final tally wasn't released until Tuesday. The Panama Canal Authority estimates that the waterway will earn US$1.7 billion this year, nearly 206 million more than in 2006. 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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