Panama Canal traffic upswing continues

PANAMA CANAL income is forecast to show continued growth in the current fiscal year which ends in September with a projected growth of 27 million tons of cargo transiting the waterway.

The growth is fueled by the neopanamax vessels which have the capacity to transport

more merchandise, and more ships carrying grain.

In mid-March, the Canal administration signed a memorandum of understanding with the Association of Producers of Soy and Maize in Brazil to promote the use of the interoceanic path to carry grains to markets in Asia.

The total income, according to the budget projections for this term, amounts to $3.37  billion

an increase of $151 million compared to audited revenues for the 2017 fiscal year

($2. 886 million).

2017 was the first full year with the expanded Canal in operation. In 2015, the Canal

handled 340.8 million tons a year later, the figure dropped to 330 million

and rose in 2017 to 403.8 million and a projection of 431 million at the close of the fiscal year 2018.