The Panama Canal Authority has begun to see “signs of recovery” in shipping traffic, including in the volume of auto units transported on car carriers, according to Alberto Aleman Zubieta, the authority’s chief executive officer.
Aleman told Bloomberg News he expects traffic in the fiscal year ending in September to total about 295 million tons, up from a previous range he had given of about 290 million to 295 million tons.
Traffic in the 95-year-old canal totaled 310 million tons in 2008. Revenue this year will be “similar” to last year’s record $2 billion, Aleman said.
“Amid the crisis, amid the recession, this is good,” Aleman, who’s run the canal since 1996, said in a telephone interview with Bloomberg.
Car shipments have “declined as was to be expected given the problems that we’ve seen in the automobile industry worldwide but we’ve seen signs of recovery in this segment.”
In the three months ending June 30, 2009, vehicle carriers, general cargo, container and refrigerated transits decreased. However, dry bulk and tanker transits increased.
Tonnage declined 4.6 percent to 73.7 million tons from 77.2 million tons in the comparable period a year earlier.
Aleman told Bloomberg News he expects traffic in the fiscal year ending in September to total about 295 million tons, up from a previous range he had given of about 290 million to 295 million tons.
Traffic in the 95-year-old canal totaled 310 million tons in 2008. Revenue this year will be “similar” to last year’s record $2 billion, Aleman said.
“Amid the crisis, amid the recession, this is good,” Aleman, who’s run the canal since 1996, said in a telephone interview with Bloomberg.
Car shipments have “declined as was to be expected given the problems that we’ve seen in the automobile industry worldwide but we’ve seen signs of recovery in this segment.”
In the three months ending June 30, 2009, vehicle carriers, general cargo, container and refrigerated transits decreased. However, dry bulk and tanker transits increased.
Tonnage declined 4.6 percent to 73.7 million tons from 77.2 million tons in the comparable period a year earlier.