The figures are based on improvements in Canal operations from October through December 2002, which is the first quarter of the Panama Canal Authority’s fiscal year 2003.
Significantly, the Canal improved its safety record reducing its maritime accidents—there were four of them compared to six last year—by a third.
During the quarter, the time it took a vessel to travel the canal was 9% quicker. Canal Waters Time (transit time) was 22.4 compared to 24.6 hours for the same time last year. Actual figures: Tonnage up 4.9 (61,055,707 Panama Canal Universal Measurement System tons versus 58,213,058 last year); 2,887 transits this year versus 2,882 last year).