The Panama Canal is operating at top capacity, with a daily passage of between 36 and 38 vessels, the waterway’s chief Ricaurte Vasquez told reporters on Friday (March 20, 2026), adding that the war on Iran was boosting demand by owners and operators of liquefied natural gas tankers.
Demand was particularly strong for those loading at U.S. ports, Mr. Vasquez added.
Since the war started, many vessels have been struggling to reach or have been avoiding the world’s largest waterway, the Suez Canal. The Strait of Hormuz, a crucial passage used to transport energy products from Kuwait, Qatar and Bahrain, has been closed.
Panama is increasingly being seen as an alternative route, especially to distribute U.S. LNG to consuming countries, Mr. Vasquez said.
The Panama Canal — the world’s second-busiest waterway — was already experiencing increased traffic of LNG vessels before the war started almost three weeks ago. It is now getting ready to offer one slot per day for LNG tankers to transit the canal, a notable jump from a recent four per month, Vasquez said.
