News

More cargo passed through the Panama Canal than ever before in fiscal 2017, as the expanded Canal’s performance exceeded forecasts.

A record 403.8 million Panama Canal tons (PC/UMS) transited the Canal in the year, a 22 percent increase from a year earlier. On one hand, the record is not surprising, considering the increased capacity of the Neo-Panamax ships that use the expanded Canal. But the total surpassed forecasts of 399 million PC/UMS, which industry experts labeled “ambitious.”.

A total of 13,548 ships passed through the Canal in the fiscal year, a 3.3 percent increase from a year earlier.

“This year’s success is a testament to the Expanded Canal’s success,” said Panama Canal Administrator Jorge L. Quijano. “These record figures reflect not only the industry’s confidence in the Expanded Canal but also illustrate the Panama Canal’s continued ability to transform the global economy and revitalize the maritime industry.”

The first year of the expanded Canal saw many important benchmarks, including more than 2,000 Neopanamax transits and the journey of the Disney Cruise Line’s Disney Wonder, the first Neopanamax cruise ship to use the expanded Canal. The containership CMA CGM Theodore Roosevelt “became the largest ship to transit the Canal to date in August 2017, measuring 365.96 meters in length and 48.252 meters in beam with a total volume of 14,863 containers, Hellenic Shipping News reports.

The main routes through the Panama Canal were between Asia and the U.S. East Coast, which accounted for 34 percent of traffic. Outside the U.S., China and Chile were the main users of the Canal.

Want to know what it looks like to go through the Canal on a ship? Check out this time-lapse video:

Jeff Barton is managing director of Punta Pacifica Realty, the top sales and property management company in the waterfront skyscraper community of Punta Pacifica.