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Panama Canal sees record cargo movement in 2007

Panama Canal sees record cargo movement in 2007

Panama: Officials have announced that the Panama Canal (pictured) has seen a record 300m tons of cargo moved during fiscal year 2007, surpassing the previous record of 293.3m tons moved in 2006. The canal, which is currently undergoing its biggest ever expansion project, also saw a 3.7% increase in crossings with 14,721 ships transiting through the waterway. In a statement to the press, the canal authorities said, "This demonstrates the growing demand for our services and the efficient operation of the oceanic waterway."

Upon completion of the $5.25bn expansion project in 2014, the Panama Canal will be able to accommodate 12,000teu 'post-Panamax' vessels.  [04/10/07]

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