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35 million tons drop in Canal CO2 emissions

CARBON DIOXIDE ((CO2) emissions by ships passing through the Panama Canal fell by 35 million tons in the 2017 fiscal year through the Green program “Connection Award and Environmental Premium Ranking” program.

The program offers a reward to customers who use vessels that meet high environmental efficiency standards established by the International Maritime Organization (IMO).

The information was presented to the  National Assembly Public Infrastructure and Affairs Committee on Tuesday, March 6 , by the Canal Administrator, Jorge Luis Quijano.

He also reported that  clients have taken advantage of the benefits of the economies of scale provided by the neopanamax locks on the route through Panama. This is reflected in the number and size of ships that transit the Canal. Since June 26, 2016, until March 2, some  3000 neopanamax vessels have used the new locks.

At present, the daily average of transits is around five ships, a figure higher than the estimate for the fiscal year 2017, and that is expected to increase in the short term, according to projections of the administration.

Last year, the Canal obtained total revenues of $2.886 billion, up more than $383 million over the previous fiscal year.

The total revenue from tolls was $ 2.707 billion, the sale of electric energy generated, $84.6 million; the sale of water, $28.4 million; other income, $33 million and interest earned $33 million.

According to the administration, this performance also allowed reaching a new record of $1.65 billion in direct contributions to the State.