March 20 - In response to growing traffic through the waterway, the Panama Canal Authority has announced that it will launch a vessel scheduling and maritime resource management system aimed at optimising costs, improving safety and increasing the overall

Following the successful expansion last year, the canal has experienced a surge in cargo and the number of transits by larger Neo-panamax vessels and set several monthly tonnage records, claims the Panama Canal Authority.

The canal has needed to allocate more resources to guarantee high performance and safety standards amid the influx of activity. Once implemented, the system will enable the canal to more efficiently manage this greater demand and capacity.

The new technology will also benefit canal customers, including shippers, by shortening vessel waiting times, increasing the number of potentially available vessel slots each day and improving the overall reliability of the route, says the Panama Canal Authority.

The system, designed by Quintiq, is expected to become fully integrated into canal operations over the course of the next two years.