Panama Canal transit times reduce

- Transit times through the Panama Canal have seen a notable decline during Q2-2010 compared to the same period in 2009, according to figures released by the Panama Canal Authority (ACP).

The overall average time taken for a vessel to transit the Canal including waiting time for passage, decreased 24.7% from 26.22 hours to 19.75 hours. Time for vessels holding reservations decreased from 15.83 hours to 12.59 hours, or a 20.4% reduction.

Total Canal transits declined 1.5% - to 3,854 (3,914 -2009). Transits of supers, larger ships that require greater time and navigation skills, decreased 0.8% - to 1,801 transits (1,815 – 2009). Tonnage passing through the Canal showed a 2.3% drop from 75.74m tonnes to 73.99m tonnes.

While total transits and net tonnage decreased nominally, there was growth in some key segments, with general cargo, dry bulk and vehicle carrier transits increasing, while transits of containers, refrigerated cargo (reefers), tankers and passenger vessels decreased.

"Average transit time is down more than six hours in Q2. This helps our clients get their products to market faster, burn less fuel and reduce expenditure. This is good news for all and indicates that our efficiency measures and investments are working, particularly the new tie-up station and track and turntable system," said Manuel Benítez, ACP executive vice-president of Operations.

"Going forward, we will continue to watch the global markets and expect to see some signs of relative growth among key segments as volumes slowly recover," he added.

(Source: Container Management)