Through a statement, the entity indicates that this extension was achieved after conversations between the Canal and the leaders of the maritime industry on the best way to provide aid as the world seeks to recover from the economic and social impact caused by the pandemic.

Despite the challenges faced at the beginning of the year, I am sure that we will see a recovery during fiscal year 2021, both for the Canal and for our clients, assures the administrator of the Canal, Ricaurte Vásquez.

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The fiscal year of the interoceanic highway will end on September 30, 2020.

It should be remembered that since May 4, the extension was implemented and it was originally valid until September 1.

Among the extended measures are: the suspension of advance payments of the rates for transit reservation, as well as other changes in the reservation system of the interoceanic highway.

Together, these measures allow clients to maintain greater liquidity, as well as greater flexibility to exchange or substitute reserve spaces among their own fleets.

It should be noted that in the midst of the pandemic, transits in the Canal increased from 845 in June to 933 in July, and August is showing a similar trend. This increase was driven, in large part, by an increase in container ship transits along the route from the east coast of the United States to Asia.

I am encouraged by the growth we are seeing in the container ship sector, although we are closely monitoring the changes in trade flows globally, said Canal Deputy Administrator Ilya Espino de Marotta.

The extension of these measures reaffirms our commitment, above all with our clients, Marotta said.

The statement adds that the extension of the support measures comes after the commitment of the Panama Canal to make investments to ensure a sustainable and long-term solution in terms of water levels, increasing the operational reliability of the interoceanic route in the next years.