The Panama Canal recorded higher traffic, tonnage and revenue in fiscal 2026, supported by demand from energy carriers and container shipping, gCaptain reported. The gains came as the waterway continued to manage freshwater supplies amid a developing El Niño weather pattern and the possibility of further operating adjustments.
Figures released by the Panama Canal Authority on Wednesday showed 13,951 vessel transits in the year ended 30 September, a 4.1% increase from 13,404 a year earlier. Tonnage rose 6.5% to 521 million Panama Canal Universal Measurement System (PC/UMS) tons, against 489.2 million in fiscal 2025. Vessels passing through the larger Neopanamax locks represented 52.2% of total tonnage, with volumes through those locks growing 8.2%.
Revenue increased faster than traffic or tonnage, reaching approximately $6.6 billion, up 16.6% from the preceding year. Those financial results have not yet been audited. According to gCaptain, the authority linked the volume gains to stronger energy shipping demand, robust containership activity and changes in international trade patterns.
Despite pressure on water resources, the canal kept its maximum authorised draft at 50 feet throughout the fiscal year’s dry season. Speaking on a conference call hosted by Bank of America Merrill Lynch, administrator Ilya Espino de Marotta described the waterway as a dependable and safe passage supporting international maritime trade.
The authority also announced the immediate return of its Last-Minute Reservation service for Panamax vessels on Wednesday. This permits ships without bookings to reserve transit slots as they become available, although offering that extra capacity remains at the canal’s discretion. Rainfall approaching average levels and water conservation measures helped support the decision. Daily booking capacity was also recently raised to 33 slots, including 10 for Neopanamax vessels, effective 15 October.
Water risks nevertheless persist. The canal warned that a continuing deficit could force additional changes, especially if El Niño strengthens. Executives also discussed the proposed Río Indio Lake Project as a key element of securing future freshwater supplies. It forms part of the Vision 2025–2035 development plan to improve resilience and preserve the canal’s competitiveness.