March 7, 2021

Panama Canal revenues grow 9.1 percent between January and October 2018

Panama Canal revenues grow 9.1 percent between January and October 2018



Revenues from the Panama Canal totaled 2,082 million dollars between January and October, 9.1% more than the 1,908 million dollars of the same period of 2017, according to official statistics released today.

October was the month with the best performance in the period, with revenues of 217.68 million dollars, 2.74% more than the 211.76 million of September 2018, according to data from the National Institute of Statistics and Census ( Inec).

In the first ten months of this year the Canal, which accounts for around 6% of world trade, recorded a total of 11,504 transits, 0.89% more than the 11,401 of the same period of 2017.

According to official statistics, between January and October, 2,160 transits were made by Neopanamax vessels through the new Canal locks, 31.2% more than the 1,646 in the same period of 2017.

Those 2,160 transits of neopanamax by the expansion of the interoceanic road generated revenues of 995.01 million dollars, 32.8% more than the 748.9 million dollars of the first ten months of 2017.

The expansion of the canal, a work of at least 5,600 million dollars put into service in June 2016 after nine years of work, consists of a new lane to make way for Neopanamax ships, with a capacity of three times the load of those transiting by the interoceanic way operative since 1914.

The administrator of the Canal, Jorge Quijano, announced on December 13 that the Panama Canal Authority (ACP) approved to deliver to the Treasury 1,703 million dollars corresponding to fiscal year 2018, a "historic" contribution to the public treasury and an increase of 53 million compared to the previous year.

Quijano explained that it was planned to deliver 1.659 million dollars to the National Treasury, but that another 44 million dollars were added due to the "spectacular" performance of the interoceanic route during fiscal year 2018.

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