The Panama Canal exceeded tonnage expectations for fiscal 2019, setting a new record for the globally important waterway.

The canal saw 469 million Panama Canal tonnes (PC/UMS) transit for the year ended 30 June, beating the prior year's results by 6.2% and projections for 2018 by 4%.

"These record-setting results reflect the Canal workforce's commitment to efficiency and ongoing investments in infrastructure, which will allow the waterway to meet the growing demand and offer a reliable and safe service to customers," the Panama Canal Authority (ACP) said in a statement.