Panama Canal container cargo sinks to lowest level since 2016
- Cargo weight handled by canal totalled 244.3m tonnes in FY25, up 16% vs drought-stricken FY24, but excluding last year, it was lowest total since FY17
- Containerised cargo amounts through neopanamax locks were lowest since FY18 and down 22% y/y; containerised cargo via both locks was lowest since FY16, down 21% y/y
- Gain in total cargo in FY25 was largely driven by partial rebound of dry bulk vs drought lows; however, dry bulk cargo was still down 13% vs FY17
The Panama Canal’s fiscal year in 2017 was the first to fully incorporate the new, larger neopanamax locks, built at a cost of more than $5bn. Global trade has seen big gains over the past eight years, yet total cargo amounts handled by the canal in FY25 are up just 1% versus FY17