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Business & Economy Briefs
Panama Canal cargo tonnage way up
The Internet prompts Third World revolution
Our September statistics
Photo courtesy of the Panama Canal Authority
The Panama Canal Authority (ACP, by its Spanish initials)
reports a "substantial surge" in tonnage of goods passing through the
canal, amounting to a 9.6 percent increase for Fiscal 2004 (which just
ended) as compared to Fiscal 2003. The authority warns that the canal is
approaching its "maximum capacity." The ACP has been expanding the canal
by deepening Gatun Lake and widening Culebra Cut, but a much more
ambitious expansion, which involves the construction of a third set of
locks that can accomodate larger-than-Panamax ships, is in the planning
stages. Such a project would be controversial on financial and
environmental grounds, and people who fear that they would be displaced
from their homes by it are also generally not enthusiastic about the idea.
Any such project would first be submitted to the Panamanian voters in a
referendum.
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