Panama Canal to Raise Daily Transits to 33 as Drought Curbs Ease

The Panama Canal Authority will increase daily Neopanamax-lock transits to 10 starting Oct. 15, raising total daily capacity across the Neopanamax and Panamax locks to 33 slots as water conditions improve. The authority also restored, effective immediately, the maximum authorized draft for Neopanamax vessels to 49 feet, up from prior drought-related limits, allowing ships to carry more cargo. A 10,000-TEU containership can lose roughly 450 TEUs of capacity per foot of draft restriction, according to one industry estimate. The decision follows near-average rainfall in the canal watershed and water-conservation measures at the locks. Daily capacity had fallen to as few as 32 ships in mid-September during a prolonged water shortage that lowered Gatun Lake, the main reservoir supplying the locks. The authority cautioned the watershed remains in deficit, and that its transit reservation system is still the only means of guaranteeing a crossing date. Vessels arriving without a booking face indefinite delays. The change affects U.S. ports including New York-New Jersey, Norfolk, Savannah, Charleston, Miami, Houston and New Orleans.