The Panama Canal has recorded significant growth in the number of transits and tonnage in fiscal year 2026, which lasted from October 2025 to September 2026. These results indicate the capability of this waterway to respond to the demand of global maritime trade and its adaptability to the impacts of El Niño.
Transit and Tonnage Details
In fiscal year 2026, the Panama Canal managed 13,951 transits, reflecting a 4.1 percent increase compared to 13,404 transits in fiscal year 2025. This growth is primarily due to strong performance in the energy and container transport sectors. Additionally, the tonnage transferred reached 521 million tons (using the Panama Canal's global measurement system), which represents a 6.5 percent increase from 489.2 million tons in the previous fiscal year.
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Water Management Strategy and Future Projects
The Panama Canal's administrator, Ilya Espino de Marotta, and other officials such as Miguel Lorenzo, Deputy Administrator, and Juan Mojica, Chief Financial Officer, discussed the water management strategy and the progress of projects under the 2025-2035 vision plan, including the Rio Indio Lake project. 52.2 percent of the total tonnage passed through the Neopanamax locks, with tonnage through these locks increasing by 8.2 percent compared to the previous year.
These results indicate a sustained improvement in demand, particularly due to changes in international trade flows. The Panama Canal has also maintained a maximum depth of 50 feet during the dry season, providing favorable operating conditions for customers.
Total revenue for fiscal year 2026 reached $6.6 billion, reflecting a 16.6 percent increase compared to the previous fiscal year. These unaudited figures indicate strong financial discipline that supports investment in strategic projects shaping the future of the canal.
Espino de Marotta stated in this call: "The Panama Canal not only does not limit trade flows, but facilitates international maritime trade by providing a reliable and safe route."
The results of fiscal year 2026 also reflect the performance and dedication of the canal's workforce, demonstrating its ability to deliver strong results in a complex global environment.
With the effectiveness of the water management sectors and recent rainfall in the watershed returning to average levels, the Panama Canal today announced through a consultation to shipping that it is resuming immediate last-minute reservation services for vessels using the Panamax locks. This service provides additional opportunities for vessels without reservations to secure a transit time.
The Panama Canal is committed to closely monitoring water conditions and rainfall and will promptly communicate any further changes.
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