After Record Year Panama Canal Predicts More In 2022

• The Panama Canal Authority (ACP) said on Monday, December 27 that it expects the container ship, liquefied natural gas (LNG), and liquefied petroleum gas (LPG) segments to boost growth in 2022 after 2021 in which it recorded a record 516.7 million tons transiting the waterway. 
• "We look forward to accommodating, even more, transits for our customers next year, as container ship, liquefied natural gas, and liquefied petroleum gas transits are expected to drive growth," said Panama Canal Deputy Administrator Ilya Espino de Marotta. 
• In a public statement, the ACP highlighted that reaching "another record year" this 2021 "was not easy, given the challenges faced by the interoceanic route, from interruptions in the global supply chain to the continued effects of the pandemic on the global economy." 
• According to data from the Canal Authority traffic through the interoceanic highway "rose between October 1, 2020, and September 30, 2021, driven by the segments of LNG, LPG, container ships, bulk carriers, and vehicle carriers. 
• In the fiscal year that ended on September 30, the tons and transits of container ships grew by 10.8% and 2%, respectively, relative to the previous fiscal year. At the same time, transits of container ships for LNG grew by 31.4% and 28.2%; and that of LPG by 18.4% and 16.4%, respectively. 
• By 2022 the canal is expected to contribute 2.497.2Bn dollars, according to the budget approved by Parliament. The Panama Canal is essential to global trade and accounts for almost 10% of Panama’s GDP and so the anticipated expansion of business activities in the waterway should bode well for the government’s coffers and by extension GDP. The Panama Canal, through which 3.5% of world trade that moves by sea passes, connects more than 140 maritime routes and 1,700 ports in 160 countries.

 

(Source: Newsroom Panama)