Crisis in Hormuz boosts Panama Canal traffic by 10%
Liquefied natural gas (reference image). Photo: Spec
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.