The Panama Canal Administrator, Ricaurte Vásquez Morales, has presented the achievements the Canal reached in fiscal year 2024 (FY-2024).
In his speech, Vásquez shared official data for FY-2024, highlighting some of the operational accomplishments of the Panama Canal during a year of particular attention due to climate conditions caused by a lack of rainfall. Some of these achievements, compared to fiscal year 2023, are:
- 1% reduction in wait times, which translates to an average of about 15 hours less compared to FY-2023.
- 1% reduction in transit times (-0.89 hours), from when the vessel arrives at the first lock until it exits the last one.
- 4% reduction in time spent in the waters of the Canal (-15.98 hours).
- 5% reduction in water usage per transit for Neopanamax vessels (-0.0394 hm³).
Furthermore, during FY-2024, the Panama Canal registered 9,944 transits and 423 million tons CP/SUAB (Universal Canal Ship Tonnage System). Of the total transits, 7,084 were Panamax vessels and the remaining 2,852 were Neopanamax vessels.
Container ships, chemical tankers, and bulk carriers led the transits through the Panama Canal during FY-2024.
These data reflect the Canal’s commitment to sustainability, providing a more efficient service to its customers and reinforcing its competitiveness in global trade.
… said the Canal in a statement.
