This movie is not a panorama of the harbour as advertised in the title. At the time, a panorama shot had two conflicting meanings. The older sense was any moving shot, one taken from a railroad or boat, or elevator or even balloon. The newer sense was the one we use nowadays, in which the camera swivels. This meaning only became practical in 1898, which a new model camera came out, lighter, and with a tripod you could place it on.
This, however, tries to offer a third sense. It is composed of six shots, some moving, some static. As such, it can be considered a travelogue, an edited collection of shots.