In its first year of operations, the Expanded Panama Canal has continually set records and surpassed expectations, resulting in redrawn global trade routes and positive world-wide impact, as the Canal looks to further position Panama as the logistics hub of the Americas. On Monday, June 26, 2017, the Panama Canal Authority (ACP) will commemorate the one-year anniversary of the inauguration of its Expanded Canal, one of the most significant milestones in the history of the 102-year old waterway and a defining moment for the people of Panama and the broader maritime industry.  All vessels transiting on Monday will receive a commemorative first anniversary plaque. Over the past 12 months, the Expanded Canal’s performance has exceeded nearly all expectations, as global trade routes have been redrawn and its positive impact has been felt around the world. Notable milestones include:
  • More than 1,500 Neopanamax vessels have transited the new locks. Containerships represent approximately 46.8 percent of traffic through the Expanded Canal, followed by liquefied petroleum gas (LPG) carriers and liquefied natural gas (LNG) carriers, which represent approximately 34.2 and 9.4 percent, respectively. Other segments such as bulk carriers, tankers, car carriers, and passenger vessels have also transited the new locks.  
  • Panama Canal tonnage has increased by 22.2 percent when comparing the 2016 and 2017 fiscal year.
  • On average, 5.9 vessels transit the Expanded Canal per day, surpassing original forecasts of two to three daily transits for the first year of operation.
  • The ACP has welcomed 15 new liner services to transit the Expanded Locks, as shipping lines continue to reroute their services to take advantage of the economies of scale offered by the Expanded Canal.
Today’s milestone marks an opportunity to reflect on the Canal’s strong performance to-date, the industry’s wide-spread adoption of the route, as well as the Canal’s continued plans and investments to further strengthen Panama’s position as the logistics hub of the Americas.