Panama Canal crossings skyrocketed in March, hitting their highest level ever in recent years due to a combination of geopolitical and operational factors.
The closure of the Strait of Hormuz and the associated risks, along with tensions in the Red Sea, have made the Panama route more attractive and safer for many shipping companies, despite the costs. In March, 1,148 transits marked the highest monthly total since December 2021.
The Panama Canal Authority reported that it had handled 40 to 41 crossings per day, exceeding the standard operational threshold of 36–38 vessels.
The increase was driven by Panamax-class tankers up 19% compared with February. LNG (liquefied natural gas) shipments to Asia also saw a sharp rise.
Translation by Giles Foster
