The Panama Canal reported higher transits and tonnage in the first half of Fiscal Year 2026, alongside increased demand for its reservation system. The update was presented during a market briefing hosted by Bank of America.
Panama Canal Administrator Ricaurte Vásquez Morales said the waterway remains operational. "The Panama Canal is open and fully operational, thanks to the dedication of some nine thousand Panamanians who keep this waterway running." He added, "Amid all the geopolitical complexities in the world today, the shifts and various factors affecting international trade, the Panama Canal remains open and reliable. With water levels currently at optimal levels, we are accommodating an ever-growing volume of traffic."
During the first half of FY2026, from October 2025 to March 2026, the canal recorded 6,288 transits, an increase of 224 year on year. Total volume reached 254 million PC/UMS tons, compared to 243 million tons in the same period of the previous year. Daily averages reached 34 vessels in January and 37 in March, with peak days exceeding 40 transits.
Container traffic and liquefied petroleum gas contributed to volume growth. "There is strong performance coming from container traffic and liquefied petroleum gas. Energy products are playing an increasingly important role in the volumes we are handling here at the Panama Canal," Vásquez Morales said.
Demand for transit reservations also increased. The canal operates systems such as Long-Term Slot Allocation and dedicated booking for liquefied natural gas vessels. All vessels require a reservation before transit. Additional options include last-minute bookings and daily auctions for three to five slots.
According to Vice President of Finance Víctor Vial, auction prices rose following market changes. Before recent events, auction prices averaged between US$135,000 and US$140,000. Between March and April, this increased to around US$385,000. Some vessels paid over US$1 million, reflecting temporary demand conditions.
Water availability remains under monitoring. Deputy Administrator Ilya Espino de Marotta said the canal has implemented water conservation measures in preparation for potential El Niño conditions. Higher rainfall during the dry season has maintained water levels in Gatún and Alhajuela Lakes.
"We don't anticipate anything significant between now and December, but we continue to monitor the situation closely. We want to keep the lakes as high as possible heading into the next dry season, so we can continue delivering a high-quality service," Espino de Marotta said.
The canal continues to adjust operations based on traffic demand and water availability.
For more information:
Panama Canal Authority
Email: [email protected]
www.pancanal.com
