The Panama Canal completed fiscal year 2026 with growth in vessel traffic, tonnage and revenue, continuing its recovery after previous water-related operating restrictions.
Between October 2025 and September 2026, the canal recorded 13,951 vessel transits, representing an increase of 4.1% compared with the previous year.
For comparison, 13,404 transits were recorded during fiscal year 2025.
Growth was supported by energy cargoes as well as strong container shipping activity.
Total tonnage reached 521 million PC/UMS tonnes, the measurement system used by the Panama Canal to calculate vessel capacity.
This was 6.5% higher than the 489.2 million tonnes recorded a year earlier.
A particularly strong increase was seen among Neopanamax vessels, which use the canal’s expanded locks.
These ships accounted for around 52.2% of all tonnage passing through the Panama Canal during the financial year.
Tonnage through the Neopanamax locks also increased by 8.2% year on year, reflecting the growing share of large container ships, gas carriers and other high-capacity vessels using the waterway.
The canal’s financial performance also improved significantly.
According to preliminary figures from the Panama Canal Authority, total revenue for fiscal year 2026 reached approximately $6.6 billion, an increase of 16.6% compared with the previous year.
The figures remain subject to final audit.
Improved water availability was one of the key factors supporting stable operations.
Despite ongoing climate-related risks and the potential impact of El Niño, the canal maintained favourable operating conditions through much of the year.
In particular, the maximum permitted draught remained at around 50 feet — 15.24 metres throughout the dry season, allowing larger vessels to transit with fewer cargo restrictions.
The Panama Canal Authority also announced the return of its Last-Minute Reservation service for vessels using the Panamax locks.
The system allows ships without a previous booking to obtain an available transit slot if one becomes open in the schedule and the canal authority approves the request.
The service was restored following improved rainfall and the effectiveness of water-saving measures across the canal system.
Previous low water levels in Gatún Lake had forced the authority to reduce the number of daily vessel transits and impose draught restrictions, creating queues and encouraging some shipping companies to consider alternative routes.
Conditions have now gradually improved.
The canal authority also announced an increase in daily transit capacity to 33 vessels per day, covering operations through both the Panamax and Neopanamax locks.
The Panama Canal remains one of the world’s most important maritime trade routes, particularly for container traffic between Asia and the US East Coast as well as for energy cargoes.
The authority is also continuing to invest in the canal’s long-term water security, including the proposed Río Indio reservoir project, which is intended to strengthen the system’s resilience against future droughts.
Nearly 14,000 vessel transits, a 6.5% increase in tonnage and $6.6 billion in revenue show that the Panama Canal is continuing to restore capacity and strengthen its position after the severe water restrictions of recent years.
