Ship Traffic in the Panama Canal
Annual Transits: The canal accommodates about 12,000–14,000 ships annually, depending on trade fluctuations. This equates to 35–40 ships daily on average.
Cargo Volume: The canal handles over 500 million tons of cargo annually (measured in Panama Canal Universal Measurement System or PC/UMS tons).
Container Ships: Account for the largest share of canal traffic.
Dry Bulk Carriers, Tankers, and LNG Vessels: Significant contributors to the overall cargo.
Passenger Ships: Cruise ships also transit, though they represent a smaller portion of traffic.
Major Changes Over the Last 25 Years
Panama Canal Expansion (2007–2016):
A $5.25 billion expansion project, known as the Panama Canal Expansion Project or Third Set of Locks, was completed in 2016.
New Locks Added:
Cocolí Locks on the Pacific side.
Agua Clara Locks on the Atlantic side.
Larger Ships Allowed: The expansion accommodates Neo-Panamax ships, which are up to 366 meters (1,200 feet) long, 49 meters (160 feet) wide, and with a draft of 15 meters (49 feet), significantly larger than the original Panamax limit.
Impact: Boosted global trade capacity, particularly for larger container ships, LNG carriers, and bulk carriers.
Increased LNG and LPG Traffic:
The expanded canal allows the transit of Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) carriers, reflecting the growth in global energy trade.
Technological Modernization:
Integration of digital systems for scheduling and navigation.
Enhanced safety measures using advanced tugboats and automated systems for maneuvering ships through locks.
Environmental Measures:
Adoption of water-saving basins in the new locks to reduce freshwater usage.
Economic Impact:
Revenue from canal tolls has significantly increased, contributing billions to Panama's economy. The canal is a critical source of national income.
Climate Change: Droughts have reduced water levels in Gatun Lake, affecting the canal's operations and forcing restrictions on vessel drafts.
