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Tuesday, 21/02/2023, 08:55 (GMT +7)
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Panama to reduce container volumes by 1.2% in 2022
Container volumes at Panama's ports fell 1.2% to 8.5 million TEU in 2022, down from 8.6 million TEU in 2021.
Manzanillo International Terminal (MIT) in Panana (Image: SSA Marine)
Although volumes in 2022 is down compared to 2021, it is still higher than 2019, before Covid-19 2019. It is expected that the recovery trend will be in an upward direction in 2023.
“It was a year of two different halves. The first six months showed a positive trend reflecting the economies of the region and still carrying forward the good directions of 2021. But in the second half, high inflation, devaluation of several regional currencies and rising interest rates took their toll on transhipment volumes,” said Juan Carlos Croston, VP of Marketing and Corporate Affairs, at MIT.
Panama surpassed 7.3 million TEU in 2019 and production increased in 2020 to 7.7 million TEU during the pandemic, increasing to 8.6 million TEU in 2021. Panama's geographical location has helped exploiting containerized goods transshipped through the Canal and at ports, maintaining an uninterrupted supply chain and logistics chain of the region.
The port in Panama that handled the most containers in 2022 was Manzanillo International Port (MIT), exceeding 2.7 million TEU, followed by Balboa with 2.18 million TEU and Colon Container Terminal (CCT) with 1.44 million TEU.
However, CCT had the highest growth for the third consecutive year, with 37.1%, while MIT, Balboa, PSA and Colon fell 2.5%, 6.6%, 4.7% and 12, respectively. 8%.
Read more:
- Inflation and recession top concerns for supply chains in 2023
- Port of Los Angeles reduces container volume in January
Source: Phaata.com (According to Seatrade-Maritimes)
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