Panama Canal cargo record boosted by Hormuz closure

The Panama Canal handled 521 million tons of cargo on nearly 14,000 ships in the fiscal year from October 2025 through September 2026, setting a cargo record, the waterway's operator said.

Canal administrator Ilya Espino de Marotta said traffic rose after the Strait of Hormuz was throttled during the Middle East war. The canal raised daily transits from 36 to 41 for a period to handle the increase.

Earlier this month, the canal cut daily transits to 32 because of drought conditions linked to a shortage of rainfall. The waterway operates with fresh water stored in two artificial lakes, which have been depleted during Panama's strong El Nino weather event.

The canal handles an estimated five percent of global maritime trade. Around 20 percent of the world's oil and gas normally passes through the Strait of Hormuz.