Panama Canal Announces More Transit & Draft Increases

The Panama Canal Authority (ACP) has announced an additional increase in both draft limits and daily transit numbers.

As of yesterday, the maximum authorized draft has been raised by 30 cm to 14.3 meters, with a further increase to 14.63 meters scheduled for July 11.

Moreover, starting August 5, an extra booking slot for the neopanamax locks will be introduced, increasing the total daily transits to 35 ships.

The canal’s ongoing adjustments are based on the current and anticipated water levels of Gatun Lake, as well as the onset of the rainy season in the Panama Canal watershed.

Despite the rainy season's arrival, water scarcity remains a significant challenge for both Panama and the Panama Canal.

Possible solutions include identifying alternative water sources from the 51 watersheds and lakes in Panama, as well as projects aimed at increasing storage capacity to ensure water availability for Panama’s population and the canal’s operations.

Since May of last year, the ACP has had to reduce daily transits due to an unprecedented drought – the worst on record.

The incoming president of Panama, Jose Raul Mulino, has prioritized addressing water levels at the canal. Mulino, who begins his five-year term in July, emphasized the importance of this issue.

In an interview with Reuters last month, Mulino mentioned his intention to push for legislation that would authorize the Panama Canal to construct large water reservoirs to mitigate drought impacts.

This proposed law, which would grant the canal authority to use land needed for these reservoirs, is expected to be the first approved under Mulino’s administration.