Panama Canal sets new annual tonnage record in spite of trade war between US and China

A record 469m tons of goods were transported through the Panama Canal between October 2018 and September 2019, despite the ongoing trade war between the canal’s main patrons, China and the US. According to the Panama Canal Authority (APC), this represents a 6.2% increase relative to the record set between 2017 and 2018, when 442m tons of goods transited through the canal. According to the APC, transportation of liquefied natural gas and liquefied petroleum gas segments rose by 37.6% and 6.9% respectively, representing the largest gains across all segments. Other segments which saw a significant transport increase include crude product tankers with a 5.6% increase, and vehicle carriers/RoRo ships with a 5.5% increase, compared to the previous fiscal year. Most of the cargo shipped through the canal were transported along routes linking the east coast of the US to East Asia and Latin America. An estimated 5% of global maritime trade passes through the 80-kilometres canal.

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