The Panama Canal has reported several operational improvements for fiscal year 2024 (FY2024), despite facing challenges from reduced rainfall.
Administrator Ricaurte Vásquez Morales presented the data during the New York Maritime Forum (NYMF).
Among the highlights was a 1 per cent drop in vessel wait times, translating to roughly 15 fewer hours on average compared to FY2023.
Transit times through the Canal also fell slightly, down by about 0.89 hours. Vessels spent 4 per cent less time in Canal waters, saving nearly 16 hours per transit on average.
In terms of resource management, water usage for Neopanamax vessels was reduced by 5 per cent, cutting the amount of water used per transit by 0.0394 hm3.
The Panama Canal saw a total of 9,944 transits during FY-2024, carrying 423 million tonnes according to the Universal Canal Ship Tonnage System (CP/SUAB). Of these, 7,084 were Panamax vessels, while 2,852 were Neopanamax vessels.
The majority of transits came from container ships, chemical tankers, and bulk carriers.
Last month, the MSC Marie made history by becoming the largest capacity Neopanamax vessel to cross the Panama Canal.