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Grapevine - Panama Canal Authority sets records

The Panama Canal Authority (ACP) posted a number of records in its 2011 fiscal year, ended September 30.

The reason was a continuing growth in tonnage moving through the canal and higher tolls, particularly for containerships.

In financial year 2011, a record total of 322.1 million Panama Canal Universal Measurement System (PCUMS) tons was moved through the waterway, up just over seven per cent on the 300.8 PCUMS tons moved in 2011 and almost three per cent on the ACP’s previous record achieved in 2007.

Notable was the strong rise in panamax ships using the canal, accounting for over 53 per cent of all transits recorded in FY 2011.

Container tonnage in FY 2011 amounted to 113.7 million PCUMS tons, equivalent to 35 per cent of the total. It generated US$ 873.7 million of the ACP’s total revenue of US$ 1.7 billion from tolls. Overall, the ACP registered a turnover of US$ 2.28 billion in 2011. Net income was US$ 1.21 billion – a 27.5 per cent jump in earnings compared with 2010. As a result, the company’s profit margin rose from 48.9 per cent in FY 2010 to 53 per cent last year.