Panama Canal reports strong Q3 and future growth plans

The Panama Canal Authority (ACP) delivered an optimistic third-quarter market update, outlining operational strength, new investments, and sustainability efforts.

“We are pleased to report that the Panama Canal is operating at full water capacity, We have remained at 50 feet of draft throughout the dry season, and we will continue to have a relatively wet winter, or rainy season for the remainder of the year in preparation of the next dry season in early 2026,” said Ricaurte Vásquez Morales, Administrator, Panama Canal Authority.

A key initiative is the $1.6 billion Rio Indio Project, which could add 15 daily transits and supply up to 970 million gallons of water per day. “We have a responsibility to provide water to about 50% of the population in Panama,” said Vásquez, emphasizing the project’s dual role in supporting canal operations and national water security.

“We feel we’re well positioned for the future,” said Victor Vial, Chief Financial Officer, Panama Canal Authority, noting the ACP has cut its debt from $2.6 billion in 2019 to $600 million, while generating over $77 million in incremental revenue from its long-term slot allocation system (LoTSA).

On sustainability, Ilya Marotta, Deputy Administrator and Sustainability Officer, Panama Canal Authority, highlighted hybrid tugboats, the Net Zero Slot initiative, and more than $117 million invested in local communities. “We’ve educated small kids to adults on how to protect the watershed, and it’s been a great growing experience for both of us,” said Marotta.

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