Increased traffic projected for the Panama Canal

April 12, 2018 – The CentralAmericaDataExpress, is reporting that “For the fiscal year ending September 2018, the authorities foresee that the cargo that will transit through the Canal will reach 431 million tons, 7% more than in the previous period.”

Panama Canal

According to the Panama Canal Authority, the main reasons for the predicted growth in cargo passing through its facilities are the improvement registered in international prices of raw materials and the increase in demand from emerging economies.

Regarding the actions carried out by the Canal to reach the projected number, an article by Prensa.com explains that ” The Canal is currently focused on promoting transport of grains in Panamax vessels originating from Brazil and destinations in Asia, as it is expected that the production of soybeans and corn in the Mato Grosso region will continue to grow.”

The article adds that “Currently, there are infrastructure projects under construction to increase loading capacity in the ports in the north and northeast of Brazil so that they can handle up to 83 million tons. This is a considerable growth taking into account that the current (expanded) capacity in this region is 35.5 million tons.”

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