It was the second year in a row that the transhipment
hub showed a decline and all terminals were in the red except for Balboa that
posted a 6% growth.
The Panama Canal restrictions initiated mid-2023 with the waterway reducing the
draught, helped the terminals recover some of their volume in the last four
months of 2023.
Shipping lines which were obliged to reduce the number of containers
carried to comply with the Canal mandatory reduction of the draught from 15.24
metres (in normal conditions) to 13.56 metres and on May 30, to 13.4 metres
which is the present draught, began to unload containers in the Pacific
terminals, and via the railroad re-load them in the Atlantic terminals to
continue their voyages.
The last three months of 2023 showed a total
throughput growth of 4.2% in October, 1.7% in November and 4.5% in December in
comparison with a decline from January to September.
Cargo volume at Manzanillo International
Terminal-Panama (MIT) dropped by 4.4% last year, while Evergreen’s Colon
Container Terminal (CCT) showed a decrease of 6%, Cristobal administrated By
Hutchison PPC also fell by 2.8% while PSA International-Panama by 9.5%.
In contrast, Balboa at the Pacific entrance of the
waterway and administrated by Hutchison PPC posted monthly double-digit growth
since August 2023, with 10.2%, 15.8% in September, 15.7% in October, 11.7% in
November and 13.7% in December.
“The port of
Balboa has successfully accommodated new services from key customers, taking
full advantage of the connectivity offered by the Panama Canal and the
logistics land bridge connecting Balboa in the Pacific with the Atlantic side,
via the rail and highway. Our commitment to addressing the evolving needs of
our clients and adaptability to external factors as well as our unique
connectivity from one ocean to another has set Hutchison Ports PPC apart from other terminals, leading to our performance,” Jared
Zerbe, Chief Executive Officer, Hutchison Ports PPC, told Seatrade
Maritime News.
However, during the last quarter of 2023, the other
terminals also posted some growth, particularly Colon Container Terminal that
registered an increase of cargo volume in September of 32.5%, in October of
27.3% and in December of 13.6%.