Sponsored By

Panama Canal cargo volume falls 4.1% in FY 2013Panama Canal cargo volume falls 4.1% in FY 2013

As the Panama Canal finalises its fiscal year ended 30 September, cargo volumes transported through the waterway are estimated to fallen by  4.1% to around 320m tonnes. This down from 333.7m tonnes in FY 2012, a record year.

Michele Labrut, Americas Correspondent

October 1, 2013

1 Min Read
Kalyakan - stock.adobe.com

“Mostly the downturn has to do with loss of US grain cargo to Argentina which uses an alternate route,” ACP Administrator Jorge Quijano told Seatrade Global. Income from tolls is estimated to reach $1.85bn, a figure similar to 2012.

Following the recommendation from the ACP Board of Directors, in August 2012 Panama’s Cabinet Council approved a proposal to re-structure the Panama Canal’s pricing system to align canal tolls charges with the value the route provides, by raising tolls effective 1 October 2012 and 1 October 2013 respectively. The re-structure has also increased the number of vessel segments from eight to 10 by Panama Canal vessel type. The new pricing structure raised tolls by an average of 1% to 7% for the affected categories and depending on the vessel type, in October 2012 and then by another 7% in October 2013, which will be reflected in FY2014, starting 1 October 2013. Containers tolls have not increased since January 2011.

The canal authorities faced criticism over the level of tolls earlier this year from Maersk Line, which re-routed its all-water Asia - US East Coast services via the Suez Canal.

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like