Panama Canal expects increase in shipping traffic in 2011

Monday, January 03 2011 @ 10:53 PM UTC

Contributed by: Don Winner

The Panama Canal Authority (ACP) says it expects vessel traffic to rise at the Canal in 2011, according to media reports. ACP estimates that 305 million tonnes of cargo will transit the Canal during the 2011 fiscal year, an estimated four million tonne increase from last year. The Panama Canal expansion project will be completed in 2014 and is expected to contribute significant economic growth to the country. Currently, the canal is able to carry vessels of up to 5,000 twenty-foot equivalent units (TEUs). According to reports, once new locks are fitted, the canal will be able to carry vessles with a capacity of 12,600 TEUs. Panama Canal's port system moved approximately 4.4 million TEUs per year on average and is expected to handle eight million containers annually by the year 2015. (portworld.com)

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