Panama Canal Smashes Toll Record


A 10,000 TEU MOL Benefactor containership, which was previously too big to use the Panama Canal, has paid more than US$829,000 to pass through, smashing the previous record of more than $575,000, according to gCaptain.

Cosco Shipping Panama had paid the previous amount for its inaugural transit of the expanded Panama Canal.

PTI previously reported that the Panama Canal had been inaugurated on June 26, 2016 after the Cosco Shipping carried more than 9,000 TEU through the new Agura Clara locks.

The vessel set sail from the Port of Piraeus in Greece on June 11 to make the first transit through the Pacific-facing Cocoli Locks.

The opening of the expanded canal could also increase volumes along the US West Coast, with the Port of Los Angeles, the US’s largest port, seeing volumes rise by more than 160,000 TEU in January-May, 2016.

Demolition efforts of smaller Panamax vessels were previously reported to be on the rise in order to rebalance the mismatch between supply and demand.

Vessels of up to 14,000 TEU are now able to pass through the expanded Panama Canal, in comparison to just 5,000 TEU, pre-expansion.

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