The figures are better than expected according to company officials and not so bad as the reduction in the Suez Canal

The Panama Canal is starting to be hit by the financial global crisis and this has been reflected in the reduced number of transits.

The Panama Canal Authority ACP said that the transits of the Panama Canal slipped 1.4 percent in the second fiscal quarter.

However, the Executive Vice-president of Operations, Manuel Benitez said that the results are better than expected, because the forecast was a diminution of 5 per cent.

“Our results for this quarter paint a favorable picture of how the Canal continues to weather the global economic crisis. Second quarter numbers remained steady and we do not expect to see major fluctuations,” said Benitez.

Panama Canal transit falling off :: La Estrella Panamá :: laestrella.com.pa :: 2009