The average number of vessels that passed through the Panama Canal in December increased to 34.2 per day, according to a notice from its authority seen on Jan. 13, but the waterway did not fill all the slots on offer, a sign that some ships continue taking alternative routes.
The canal, the world's second busiest and the only interoceanic way that operates with freshwater, between August and September lifted passage restrictions following a severe drought that forced a limit to daily transits and vessel drafts.
The Panama Canal Authority had been expecting a return to the full allotment of 36 transits per day, especially during peak periods, such as the last quarter of the year. But the open slots show many shippers have kept to their alternative routes.
In November, an average of 33.3 vessels transited through the waterway per day, while the average for October was 31.4 ships per day.
The canal's authority did not immediately reply to a request for comment.
Some vessels, including bulk carriers and LNG tankers, have continued using alternative routes when the cost of passing through Panama matches the extra fuel they must use to travel around the capes of Horn or Good Hope to transit between the Americas and Asia.
The canal's increase in passage fees in the last decade, something U.S. President-elect Donald Trump has recently complained about, has been an issue with some commodities producers and shippers, say analysts. Trump recently said he did not rule out using military or economic action to take over the canal.
In the fiscal year that ended in September, the canal reported a 5% decrease in its toll revenue to $3.18 billion, despite large declines in tonnage handled and the total number of vessels that passed through.
Between the 2020 and 2023 fiscal years, the canal's toll revenue had increased almost 26% to $3.35 billion, according to its annual reports.
The canal has said it expects in this fiscal year to achieve an annual tonnage close to the 511 million tons it handled in 2023, and see up to 12,582 deep-draft vessel transits between the Atlantic and Pacific Oceans.
Recommended Reading
Infinium, Summit Carbon Solutions Join Forces to Advance Efuels
2025-02-05 - Infinium will supply up to 670,000 metric tons of CO2 to Summit Carbon at a eFuels facility.
EDPR NA Distributed Generation Completes Solar Farm in Maine
2025-02-05 - The 3.4-megawatt Bristol I community solar project provides power for more than 400 residential and small business subscribers, EDP Renewables North America Distributed Generation says.
CS Energy, Calibrant Deliver Three BESS in New York
2025-02-05 - CS Energy and Calibrant Energy completed three stand-alone battery energy storage systems in New York.
Sage Geothermal, ABB Form Energy Storage, Power Partnership
2025-02-04 - In a memorandum of understanding, ABB said it would support Sage Geothermal on its energy project with Meta.
EDP Renewables Secures Land for Energy Storage Project in Canada
2025-02-04 - The energy storage project is scheduled to begin commercial operation in 2027, EDP Renewables says.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.