Panama Canal Sets Record for Annual Tonnage Driven by Shifts in Trade

Despite the challenges the Panama Canal has faced due to the drought and effects of El Niño, it completed a strong fiscal year, emphasizing its role in global trade. The canal authority cited a sustained recovery in demand, supported in part by shifts in international trade flows, while also reporting, with a recovery in water levels, it is now restoring the Last-Minute Reservation service to further support shipping.

Speaking with the French news outlet AFP (Agence France-Presse) on Tuesday, officials highlighted a new record for the total volume of cargo moving through the canal. In the FY ending September 30, they report a total of 521 million tons (PC/UMS). That is a 6.5 percent increase versus the previous year and beats the 2022 record of 518 million tons.

Detailing the performance for the year in a presentation today, Panama Canal Administrator Ilya Espino de Marotta reported that the Panama Canal handled 13,951 transits in FY2026, up 4.1 percent from 13,404 in FY2025. Growth, they said, was driven by energy shipping segments and a strong containership performance. It contributed to a 16.6 percent increase in total revenues for the Panama Canal Authority.

The strong demand was also in part driven by the disruptions in global patterns and the strong demand from Asia. Ships have been diverting away from the Suez Canal and Red Sea due to the dangers from the Houthis and then the disruption from the war in the Persian Gulf.

This story was originally published by The Maritime Executive. Read the full story at The Maritime Executive →