Crisis in Hormuz boosts Panama Canal traffic by 10%

Liquefied natural gas (reference image). Photo: Spec

Crisis in Hormuz boosts Panama Canal traffic by 10%

TL;DR

  • The Middle East crisis has increased traffic through the Panama Canal by approximately 10% above budget.
  • Daily transits have risen to 38-41, up from the projected 34-36.
  • The Panama Canal is highlighted as a safe and economical route.
  • The liquefied natural gas (GNL) segment is recovering after a decline due to the Ukraine war, with reservations increasing.
  • GNL is the second highest-paying segment for tolls after container ships in the neopanamax locks.
  • The increased traffic is expected to positively impact the canal's tonnage and revenue by the end of the fiscal year.

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