Panama Canal traffic remains below average
According to the Danish Shipping organisation Bimco, traffic through the Panama Canal remained below historical averages between September 2024 and January 2025, with total capacity in dwt down by 10% compared to the average in the 2019–22 period.
Despite the absence of formal restrictions, several vessel segments, including dry bulk and LNG carriers “haven’t recovered to their historical levels yet,” says Filipe Gouveia, shipping analysis manager at Bimco.
“Transit fees, changes in trade patterns and the establishment of a new normal” may be contributing to this trend, says Gouveia. Some ships opt for alternative passages, such as the Cape of Good Hope or Cape Horn.
Grain exports from the US west coast have grown, contributing to a reduction in canal crossings, due to them being “the largest cargo category to transit the canal.” Whilst minor bulk shipments have recovered, LNG vessels face continued limitations. (js)