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Shortest Month Brings Two New Records at the Panama Canal

Date: 21-MAR-2005

RECORD TONNAGE AND BOOKED RESERVATIONS

PANAMA CITY, Panama, March 21, 2005 - The Panama Canal Authority (ACP) made the most of February's 28 days in 2005, setting two new records. Records were set in Panama Canal/Universal Measurement System (PC/UMS) tonnage and booked reservations.

This February a record 786.4 thousand PC/UMS tons transited the waterway each day on average. This breaks the November 2004 record of an average 778.2 thousand PC/UMS tons per day.

February also proved a record month for the daily average of transactions booked through the ACP's reservation system, which totaled a record 20.04, breaking the average of 19.32 held in January 2005. Approximately 50 percent of all Canal transits are booked through the reservation system.

"The Panama Canal is growing as a route of preference due to its reliability, safety and efficiency," said ACP Administrator/CEO Alberto Alemán Zubieta. "I congratulate ACP employees who provide a great service to our clients and have once again made the Canal the best bargain in the maritime industry for shippers to transport their goods to market."

About the Panama Canal Authority
The Panama Canal Authority is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal.  The operation of the Panama Canal Authority is based on its organic law and the regulations approved by its Board of Directors.  For more information, please refer to the Panama Canal Authority's Web site: www.pancanal.com.

The Authority's responsibility to the Panamanian people is paramount. The Canal belongs to the people and benefits from the Canal should accrue to as many Panamanians as possible.  The Authority will plan its future so that it will continually contribute to the economic development and welfare of the citizens of Panama. For nearly 90 years, the Panama Canal has served as the global gateway - a pathway for the shipment of major world commodities. Since the end of 1999, the ACP assumed the responsibility for the management, operation and modernization of the Canal as well as the protection and conservation of its watershed.


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