The Panama Canal has restored its Last-Minute Reservation service for vessels using the Panamax locks after improved rainfall and water-saving measures eased operating constraints, according to an official Panama Canal Authority statement.
The service resumed with immediate effect on 21 October 2026 under Advisory A-39-2026, reversing a suspension imposed on 20 August as El Niño brought below-average rainfall and reduced reservoir inflows.
The move came as the canal closed FY2026 with record PC/UMS tonnage. It handled 13,951 transits in the year to 30 September, up 4.1% from 13,404 in FY2025, while tonnage rose 6.5% to 521m PC/UMS tons from 489.2m.
The 521m-ton total surpassed the previous record of 518.8m set in FY2022. Neopanamax traffic accounted for 52.2% of total tonnage, with tonnage through the larger locks rising 8.2% year on year.
Revenue reached B/.6.6bn ($6.6bn), up 16.6%, although the figures remain unaudited. The canal maintained a maximum draft of 50 feet throughout the FY2026 dry season.
Administrator Ilya Espino de Marotta, Deputy Administrator Miguel Lorenzo and Finance Vice President Juan Mojica presented the fiscal-year results.
“Far from restricting trade flows, the Panama Canal facilitates international maritime trade by providing its customers with a reliable and safe route,” Espino de Marotta said.
Water conditions remain a constraint despite the restoration of last-minute bookings. Rainfall across the watershed from May to August was 34% below the historical average, while inflows were 44% below average.
Panamax booking capacity was cut to 23 daily slots from 15 September and Neopanamax capacity to nine. Neopanamax capacity later returned to 10 slots from 15 October, lifting combined capacity to 33 slots, while the maximum authorised Neopanamax draft was set at 49 feet.
Advisory A-39-2026 warns that a water deficit persists and that the regular Transit Reservation system remains the only way to guarantee a transit date. Unbooked vessels may face “extremely extensive delays”.
From booking dates beginning 3 January 2027, alliance swap and substitution arrangements will also apply to vessels in the Super category.
The authority’s Vision 2025-2035 includes the Río Indio Lake Project.
The Panama Canal Authority is an autonomous public-law entity of the Republic of Panama responsible for administering, operating, conserving, maintaining and modernising the canal and related activities. It has financial autonomy and its own assets under Panama’s constitution and the ACP Organic Law.
