Panama Canal cargo to drop 2.4 percent this year

Jorge Quijano, administrator of the Panama Canal Authority, said the waterway was expecting a drop in cargo volume of 8 million tonnes this year.

“For this fiscal year, which runs from 1 October 2012 to 30 September 2013, we expect a decline of 8m tonnes from 330m tonnes we had forecast,” said Quijano.

The 2.4 percent decrease, is primarily due to the drought that has affected the United States, which has boosted the grain trade from Brazil that does not transit by the Panama Canal.

Source: Carbon Positive