Shipping
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PANAMA CANAL TRANSITS START TO REBOUND AFTER DROUGHT YEAR
February 17, 2025

During the first four months of fiscal year 2025 for the Panama Canal (October 2024 to January 2025), the number of transits rose by 25.04% compared to the same period the previous year, which significantly decreased due to restrictions related to drought conditions.

 

From October 2024 to January 2025, the waterway recorded a total of 4,042 transits, an increase of 809, in both types of locks: Panamax and Neo-Panamax. 

 

During this period, the Panamax locks saw a total of 2,928 vessels pass through, making up 72.44% of all transits. In contrast, the expanded Canal's Neopanamax locks recorded 1,114 transits, which represented 27.56% of the total.

 

Panama Canal Deputy Administrator Ilya Espino de Marotta said daily transits were up to 36, the normal daily capacity of the canal, as a result of the various water management measures implemented between July 2023 and mid-May 2024.

 

This is in contrast with the daily transits in late 2023, which dropped to 22.

 

By segment, container vessel transits totaled 979 during the period, also up by 6.99% over the 915 transits recorded in the same period the previous year.

 

Chemical tankers totaled 748 for the first four months of 2025, and bulk carriers had 726 transits, an increase of 86.15% from the 390 the year before.

 

Gas carrier transits reached 647, up 41.88% year over year, while vehicle carrier transits increased to 289, up 17.47%. Refrigerated vessel transits totaled 171 ships, a 27.6% increase.

 

Meanwhile, the Panama Canal only saw 13 transits in the LNG segment in the first four months of 2025, compared to the 72 transits recorded during the same period a year prior. 

 

The severe drought at the Panama Canal has earlier resulted in a sharp decline in transit for the Fiscal Year ending September 30, 2024.

 

The Panama Canal Authority reported a significant decrease in vessel transits for the fiscal year 2024 (from October 1, 2023, to September 30, 2024), with a total of 9,936 transits. This marks a 29% decline from the 12,638 transits recorded during the same timeframe the previous year, primarily due to an extended dry season and severe drought that affected navigation.

 

Due to the severe drought, the Panama Canal implemented restrictions on draught and transit numbers for much of 2023.

 

At the peak of these restrictions in late 2023, daily vessel transits were reduced to just 22, down from the normal average of 36. However, restrictions began to be lifted in January 2024, and conditions gradually improved in the subsequent months.