Traffic is Boosted Nearly 10% Through the Canal as a Result of the Crisis in the Middle East
In the last two weeks, between 38 and 41 transits have been made daily, when between 34 and 36 had been planned, reflecting the increase in the use of the interoceanic route.
The crisis in the Middle East has boosted ship traffic through the Panama Canal in recent weeks, which at this time of year is registering about 10% more crossings than budgeted, said Deputy Administrator Ilya Espino de Marotta who is pictured below. The official specified that in the last two weeks there have been between 38 and 41 daily transits, when between 34 and 36 had been planned, which reflects the increase in the use of the interoceanic route. “Obviously, the Panama Canal is a safe route, it’s a short route that, with fuel prices, offers better economies of scale,” he explained during an interview, highlighting the rebound in maritime traffic.
“Picture of Ilya Espino de Marotta is Courtesy of the Panama Canal Authority.”
One of the impacted segments is liquefied natural gas (LNG), which fell after the war in Ukraine, but is now showing signs of recovery with new reservations expected for April. This segment pays the second highest toll on the Canal, after container ships in the Neopanamax locks, which represents a positive impact on revenue. Currently, the Canal is registering 10% above budget in tonnage and revenue, although authorities indicate that it will be necessary to wait until the end of the fiscal year to measure the real impact. In fiscal year 2025, Canal revenues reached $5.705 billion, an increase of 14.4%, while transits totaled 13,404.
