Panama Canal Authority sees modest traffic rise in 2011

The Panama Canal will likely to see traffic rise moderately for a second straight year in 2011 as international trade continues to recover along with the world economy.

The Panama Canal Authority expects the net tonnage of ships passing between the Pacific and Atlantic oceans to reach 305 million tons in fiscal 2011, up from 300.1 million tons the previous year. Panama's fiscal year started Oct. 1.

After holding off on a scheduled toll hike in 2010 because of the economic situation, the authority plans to raise fees on Jan. 1.

Original source: Dow Jones