The Panama Canal Administrator, Dr. Ricaurte Vásquez Morales, took part in the Connecticut Maritime Association (CMA) Shipping Conference and Expo 2026, which brings together major stakeholders in the global maritime industry.

At the conference, he shared the latest on the canal’s infrastructure development plan, as well as initiatives shaping its long-term role in global trade and assuring the passageway’s reliability.

As a participant in a panel discussion moderated by CNBC’s Senior Maritime and Global Supply Chain Correspondent Lori Ann LaRocco, the Administrator provided an overview of the ACP’s Vision 2035, which prioritizes boosting the canal´s competitiveness and sustainability, which are central to global trade engagement with the maritime industry.

Image from CMA 2026. Photo by David Butler II

“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.”

The Administrator also discussed the Río Indio Lake project, which is intended to enhance water availability and improve the long-term reliability of canal operations. By increasing water storage capacity, the project is expected to strengthen operational stability and provide greater resilience in the face of changing climate conditions. “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.”

The panel was followed by a conversation with Seatrade Maritime Middle East Correspondent Gary Howard in which the two shared an in-depth discussion on the Panama Canal’s future projects, decarbonization and sustainability initiatives, and the waterway’s long-term capacity outlooks.

During the conference engagements, Dr. Vásquez shared recent transit data which confirms better than expected activity over the last quarter. According to the latest figures, canal revenues during the first five months of fiscal year 2026 were roughly 8–10% higher than during the same period in 2025, reflecting increases in both ship transits and cargo volumes moving through the waterway. These numbers demonstrate the canal’s commitment to upholding reliable service while continuing to respond to evolving customer needs and global trade dynamics.

Dr. Vásquez also addressed the canal’s decarbonization initiatives, including the NetZero Slot program, which incentivizes vessels that adopt lower-emission technologies and fuels. The initiative is part of the Panama Canal Authority’s broader effort to support the maritime industry’s transition toward cleaner operations while maintaining efficiency and reliability.

The CMA Shipping Conference and Expo, established in 1985, is a three-day event that has become a cornerstone of North America’s shipping and logistics industry, attracting more than 1,000 attendees each year. Sponsors of the event include Castrol, ClassNK, Drew Marine, DNV, Korean Register, Lloyd’s Register, Martin Ottaway, the Marshall Islands Registry, Monjasa, OPA 90 Forum, Regent, ABS, Randive Inc., Acceeron, the American Club, and Bureau Veritas.
Source: Panama Canal