The Panama Canal recorded an increase in transits and tonnage during Fiscal Year 2026 – which spans from October 2025 to September 2026 – reaffirming the interoceanic waterway's capacity to meet the demand of global maritime trade, while continuing to adapt to the effects of the El Niño phenomenon.
The Panama Canal today, Wednesday, provided an update on the results of FY 2026, in a call organized by Anna Milne, Managing Director of Emerging Markets Corporate Research at Bank of America Merrill Lynch.
The Panama Canal Administrator, Ilya Espino de Marotta, Deputy Administrator Miguel Lorenzo, and Vice President of Finance, Juan Mojica, participated in the call, where they offered details of the Canal's water strategy and progress on initiatives that integrate the Canal's 2025-2035 Vision, including the Rio Indio Lake Project.
Operational Performance
During Fiscal Year 2026, the Panama Canal recorded 13,951 transits, a 4.1% increase compared to 13,404 in fiscal year 2025, driven by the energy segments and the strong performance of container ships.
On the other hand, in FY 2026, 521 million PC/UMS (Panama Canal Universal Measurement System) tons were reached, representing a 6.5% increase compared to 489.2 million PC/UMS tons in the same period of the previous year.
This performance was led by transits through the Neopanamax locks, which accounted for more than half of the total tonnage (52.2%) and registered an 8.2% increase in tonnage compared to the previous fiscal year, evidence of the growing participation of larger capacity vessels through the interoceanic waterway.
These results show a sustained recovery in demand, partly due to the effect of variations in international trade flows and because the Canal maintained a maximum draft of 50 feet throughout the dry season, allowing it to offer favorable operating conditions for waterway users.
For Fiscal Year 2026, total revenues of B/. 6.6 billion balboas were recorded, representing a 16.6% increase compared to the previous fiscal year. These figures – still to be audited – reflect solid financial discipline, which will drive the strategic projects that will define its future.
During her participation, the Administrator emphasized that "the Panama Canal, far from restricting trade flows, is a facilitator of international maritime trade by offering its users a reliable and safe route."
The results of Fiscal Year 2026 highlight the performance and commitment of its workforce; and confirm the Panama Canal's ability to respond to a complex global environment with solid results.
Last-Minute Reservations
Considering the effectiveness of the water-saving measures implemented and the positive impact of recent near-average precipitation levels in the watershed, the Panama Canal today announced through a Notice to Shipping, with immediate effect, the reestablishment of the "Last-Minute Reservation" service for vessels using the Panamax locks.
This service offers an additional alternative for vessels that do not have a reservation when a slot becomes available and the Panama Canal, at its discretion, decides to offer it.
The Panama Canal remains committed to closely monitoring water conditions and rainfall levels, and will timely communicate any additional adjustments that circumstances may require.
