Panama Canal Traffic Rises as Cargo Tonnage Climbs 7%
The Panama Canal is busy again after two drought years, with cargo tonnage rising faster than ship counts in fiscal 2026. Here is what actually rose, how deep ships can now go, and why water remains the waterway's wild card. The post Panama Canal Traffic Rises as Cargo Tonnage Climbs 7% appeared first on The Rio Times .
Panama Canal traffic is on the rise once again, with cargo tonnage increasing by 7% so far in fiscal 2026. After two tough drought years, the waterway is now busier, carrying heavier and more valuable loads than before. The number of ship crossings has risen modestly, while the weight of cargo moving through has grown faster. This disparity highlights the shift towards larger and fuller vessels transiting the canal.
In the first nine months of fiscal 2026, 10,726 ships transited the canal, marking a 5.2% increase from the same period last year. Meanwhile, cargo tonnage moved through the canal reached 389.96 million tons, a 7.2% rise over the previous period. The Panama Canal relies on fresh water from Gatun Lake, which is replenished by rainfall.
During the 2023-2024 drought, the lake levels dropped dangerously low, causing the authority to limit daily ship crossings and the maximum allowed draft. As rainfall returned, the lake refilled, and the draft limits were gradually increased to their normal ceiling of 50 feet. Deeper draft allows ships to carry more cargo safely, benefiting global trade by reducing costs per ton and minimizing the need for detours.
The canal's recovery has also been beneficial for Panama's economy. In fiscal 2025, the canal generated a record US$5.7 billion in revenue, and sent roughly US$2.965 billion to Panama's national treasury. While the return of deeper draft and higher tonnage is positive news, the canal's long-term health still depends on rainfall.
The authority continues to manage draft during the dry season to prevent the lake from dropping too low. Until new water supply projects are completed, the canal must remain vigilant against dry seasons that could threaten its operation.
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