These encouraging figures for the period covering October 1 through September 30, he said, derive from admitting 36 daily vessel transits (38 was the norm before the prolonged drought cut them short).

Starting in October 2023, an average 24 daily vessel transits would allow the crossing of 430 million tons of cargo, which stands as another positive indicator, he highlighted.

According to Ricaurte, during the first nine months of the 2024 fiscal year, 8,227 vessels and 303.8 million tons crossed the Panamanian waterway.

Last January Ricaurte had foreseen a decrease of up to 700 million dollars in revenues by the end of the fiscal year, due to adjustments in transits, as a consequence of the prolonged dry season that affected the level of the lakes of the hydrographic basin.

However, during the months when drought hit the hardest, due to the El Niño phenomenon, a series of operational plans were implemented to optimize revenues, reduce costs and maintain competitiveness in the international maritime market, he added.

Among other strategies implemented Ricaurted recalled an auction of quotas during the days of draft restriction and reduction of transits, which gave the expected results.

On August 27, the National Assembly (unicameral parliament) approved in a third debate the Canal’s budget for the fiscal year 2025, totaling US$5,623 billion, an increase of US$847 million compared to the previous budget.

The Canal revenues will contribute directly 2,789 million dollars to the Panamanian State.

Ied/abo/ro/ga