The Panama Canal has set a record for cargo transits, as it has accommodated a total of 521 million tonnes of shipments from seagoing vessels during the 2025-26 fiscal year, Panama Canal Authority (ACP) administrator Ilya Espino de Marotta said on Tuesday, October 20.
The new record broke the previous record of 518 million tonnes, which was set in the 2022 fiscal year.
The waterway saw about 14,000 ships pass through during the 2025-26 fiscal year, which ran from October 2025 to September 2026, according to data released by ACP.
Canal numbers pick up due to Strait of Hormuz closure
Espino de Marotta attributed the uptick in cargo transits to the closure of the Strait of Hormuz due to the war in the Middle East.
The rise in cargo transits also comes at a time when the waterway is highly affected by the strong El Niño phenomenon.
The weather phenomenon forced canal authorities to reduce daily transits to 32 in early October as the shortage of rainfall in the area had depleted the fresh water stored in the canal’s two artificial lakes.
However, the war in the Middle East has increased ship traffic through the canal, accommodating around 36 to 41 vessels every day at the peak of the conflict to help the ships continue their journey at sea.
Espino de Marotta pointed out that despite the severe climate event, waterway officials have successfully supported the industry when it needed it by bringing more cargo through the canal.
The United States, China, Japan, Chile and South Korea are the major users of the waterway despite the risks that vessels have to manage due to the effects of El Niño.
A ship carrying liquefied petroleum gas paid around US$5.3 million to pass through the canal last September.
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