Panama Canal records record traffic in 2021

The queues that have been going on for months in major Asian ports such as Los Angeles or Long Beach in California have not slowed down maritime traffic on the Panama Canal. On the contrary. The 80-kilometer-long strategic waterway that connects the Atlantic to the Pacific has never received so much cargo. Over the fiscal year which has just ended (October 2020 to September 2021) the Canal Authority recorded 516 million tonnes having crossed the isthmus on board 13,342 ships, or 36 per day. Traffic increased 8.7% over the previous year. Even if the 2019-2020 financial year coincides with the economic crisis caused by the Covid-19 and a brutal brake on world trade, it already represented a traffic record for Panama.

The increase in the volume of goods transported over the past twelve months reflects the recovery of the global economy.

Two-thirds of the cargo that transits between the ports of Colon (Atlantic) and Panama (Pacific) originates or is destined for the United States.

The increase in Chinese demand for American cereals and the increase in Asian demand for liquefied natural gas (LNG) transported by LNG carriers have largely contributed to increased use of the canal.

Above all, as Ricaurte Vasquez, the head of the Canal Authority, reminded the press, the increase in tonnage can be explained by the fact that the size of the boats has grown considerably there.

Post-Panamax

Since the inauguration in 2019 of the enlarged waterway and the new locks, the largest container ships of the Post-Panamax class (14,000 containers on a ship) have used it.

These sea monsters can be up to 366 meters long and 46 meters wide.

The sea route was previously limited to Panamax, carrying “only” 5,000 containers.

This quest for gigantism can be explained by the constant search for better profitability by the shipowners.

Ricaurte Vasquez expects further growth in traffic and expects 535 million tonnes in 2022. The Panama Canal receives around 3.5% of global maritime trade.