The Panama Canal Authority (ACP) has released first quarter operational results for fiscal year 2010.

In the first quarter, Canal Waters Time (CWT), the average time it takes a vessel to transit the canal (including waiting time for passage) decreased significantly.

There were also increases in total transits and net tonnage.

CWT decreased 27.5 percent from 27.97 hours to 20.29 hours. CWT for booked vessels holding reservations also experienced a decrease of 20.7 percent from 16.94 hours to 13.43 hours.

Total canal transits increased two percent from 3,520 transits to to 3,590 transits.

The ACP noted that dry bulk and tankers transits increased, while transits of containers, reefers and vehicle carriers decreased.  

“In the first quarter of 2010, we saw an increase in a few key areas which point to a global economy slowly, but surely, recovering,” said ACP Executive Vice President of Operations, Manuel Benítez.

“We will go into the remainder of fiscal year 2010 with slightly positive projections and expect sluggish shipping segments to show some recovery.”