Chokepoints › Panama Canal
Panama Canal shipping traffic
Central America · Daily ship transits from IMF PortWatch, latest day Nov 8, 2026.
Traffic is close to its 90-day average (7-day average 27.3 ships a day vs 28.1).
Daily transits, last 30 days
Bright bars: tankers. Faded bars: all other ships.
Why the Panama Canal matters
The Panama Canal links the Atlantic and Pacific oceans and saves ships the long voyage around South America. It runs on fresh water from Gatun Lake, so droughts force the canal authority to cut daily transits and the depth ships may load to, as happened in 2023 and 2024. US Gulf Coast LNG, grain and propane bound for Asia, and container services to the US East Coast, depend on it. When transits drop, LNG shipping rates, US grain export costs and container schedules to the East Coast feel it first.
Markets to watch
- LNG shipping rates: US Gulf LNG to Asia either uses the canal or takes a much longer route.
- US grain and soybean export costs: Gulf grain shipments to Asia rely on the canal.
- Container rates to the US East Coast: Asia-US East Coast services use the canal.
Related
Other chokepoints: Strait of Malacca, Cape of Good Hope, Suez Canal.
Country risk: United States, China, Japan, Mexico.
FAQ
How many ships pass through the Panama Canal each day?
In the 7 days to Nov 8, 2026, an average of 27.3 ships a day passed through the Panama Canal, including 12.1 tankers, against 28.1 a day over the previous 90 days. Counts come from IMF PortWatch satellite AIS data.
Why does drought affect the Panama Canal?
Each lock transit uses fresh water from Gatun Lake. When rainfall is low, the canal authority limits daily transits and ship drafts to save water, which reduces how much cargo can pass.
What goes through the Panama Canal?
Container services between Asia and the US East Coast, US grain, propane and LNG bound for Asia, and car carriers are among its main traffic.