The Panama Canal Administrator, Dr Ricaurte Vásquez Morales, participated in the Connecticut Maritime Association (CMA) Shipping Conference and Expo 2026, which brings together key stakeholders from the global maritime sector.
At the event, he outlined the canal’s infrastructure development plans and initiatives shaping its long-term role in global trade.
During a panel moderated by CNBC Senior Maritime and Global Supply Chain Correspondent Lori Ann LaRocco, Dr Vásquez provided an overview of the ACP’s Vision 2035, which aims to enhance the canal’s competitiveness and sustainability.
Vásquez said: “As part of Canal Vision 2035, we are developing projects that will expand capacity and introduce new ways to move cargo across Panama, allowing certain commodities to move through complementary infrastructure while preserving canal transit capacity. At the same time, we are exploring opportunities to strengthen Panama’s role as a transshipment hub through a new container terminal development.”
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He also discussed the Río Indio Lake project, designed to increase water storage and improve the long-term reliability of canal operations.
He stated: “What we are trying to do is improve our reliability and for that we are making a significant investment in trying to put an additional water reservoir in order to ensure that we can have more storage capacity and consequently regulate and manage water a lot better.”
Following the panel, Dr Vásquez spoke with Seatrade Maritime Middle East Correspondent Gary Howard on the canal’s future projects, decarbonisation initiatives, sustainability efforts, and long-term capacity outlooks.
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Recent transit data shared at the conference indicated stronger-than-expected activity over the first five months of fiscal 2026, with revenues roughly 8 –10 per cent higher than the same period in 2025.
The increase reflects both higher ship transits and cargo volumes, demonstrating the canal’s ability to maintain reliable service while responding to evolving trade dynamics.
Dr Vásquez also addressed decarbonisation measures, including the NetZero Slot programme, which incentivises vessels adopting lower-emission technologies and fuels as part of the canal authority’s broader environmental efforts.
For more information:
Panama Canal Authority – https://pancanal.com/en/
