In first month enlarged Canal earns $20 million

The administrator of the Panama Canal, Jorge Luis Quijano, said that expectations are being met at this point of navigation, noting that there is good receptivity by shipping lines after opening of the new locks with the capacity to receive larger vessels.

The transit of 55 vessels and income of $20 million is the balance after one month of operation of the expanded Canal, the administrator said.

He considered that expectations are met at this point of navigation between the Atlantic and Pacific oceans, noting that there is good receptivity.

Quijano said that they projected a “little” more transits for the first months after opening the new section.

He said, however, that the Danish shipping company Maersk Line, classified before the expansion to be in sixth or seventh place among the Canal users carrying goods from Asia to the US east coast, placed new services, moving up to number three.

Quijano admitted that so far they have not seen the arrivals at the expanded canal of some grain ships, or one carrying liquids other than gas, which in the future will depend on the extent to which they can increase the draft of the waterway.

He said it is early for cruise ships to make reservations, recalling that on October 1 the cruise season begins in Panama.

He noted that from now until September 30 they have 130 reservations for ships to transit the expanded Panama Canal, of which 119 are container ships, contributing more than the other segments.

The official said that the expectation is the transport of 335 million tons through the Canal by the end of the current fiscal year, saying that this route continues to compete with the Suez Canal and, despite the low price of oil, remains, as competitive for freight rates.

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