After record year Panama Canal predicts more in 2022

Container ships will help fuel increased canal transits.

2,047Views 3Comments Posted 28/12/2021

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, in relation to the previous fiscal year; that of LNG by 31.4% and 28.2%; and that of LPG by 18.4% and 16.4%, respectively.

Fiscal year 2021 was "exceptional" for the Canal, with a record 516.7 million tons of traffic, 8.7% more than the previous year and 10% above 2019, said the administrator of the road, Ricaurte Vásquez, who predicted a more moderate growth for 2022.

The interoceanic highway delivered more than 2.08 billion dollars to the Panamanian State on December 16, a record contribution corresponding to the year 2021. By 2022 it expects to contribute 2.497.2 billion, according to the budget approved by Parliament.

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.