Ricaurte Vásquez, administrator of the Panama Canal: “The Panama Canal has seen a 14.4 percent increase in revenue as the result of three main factors. The first was the rise in daily transits, which increased from 27 crossings per day in 2024 to 33 in 2025, particularly in the container cargo and liquefied petroleum gas sectors. Second, the introduction of the Long-Term Slot Allocation program (LoTSA) has allowed the Panama Canal to offset losses that accrued in congestion premiums during the 2024 drought. Lastly, the Panama Canal has benefited from the import frontloading that has occurred as a result of the higher U.S. tariffs, which drove a strategy to increase trade before the new charges were introduced. However, this tactic is probably an immediate and temporary response to the tariffs and will likely change in the medium and long term. With these results, the Panama Canal remains financially solid and strategically prepared to take on the investments that are set to begin in 2026, aimed at…”