The Panama Canal has recorded a 23% increase in maritime traffic over the past two weeks, according to data from the Panama Canal Authority (ACP). The surge is mainly due to vessels seeking alternative routes amid restrictions in the Strait of Hormuz.
"We are operating at maximum capacity," the Canal administrator reported. Authorities have implemented extended shifts and prioritized oil tanker transit to facilitate the flow of hydrocarbons to Western markets.
The traffic increase represents additional estimated revenue of $150 million monthly for Panama, a significant economic boost for the country. However, wait times to cross the Canal have extended from 2 to 5 days.
The situation contrasts with the water crisis that affected the Canal in 2023-2024, when drought forced a reduction in transits. Recent rains have normalized Lake Gatun levels, allowing operations without draft restrictions.
International analysts note that Panama is consolidating its position as a key strategic point in the reconfiguration of global trade routes amid instability in the Middle East.