Panama Canal postpones new vessel draft restrictions
The Panama Canal Authority has postponed a planned reduction in the maximum allowable draft for vessels using the Neopanamax locks from October 1. The current limit will remain at 14.63 meters, or 48 feet.
The maximum draft had been scheduled to decline to 47.5 feet due to concerns over drought and the potential impact of El Niño on water levels in Gatun Lake. However, the latest assessment of water reserves and weather forecasts allowed the restriction to be postponed.
Keeping the current draft limit will allow large vessels to continue transiting the canal without having to further reduce cargo loads. This lowers risks for voyage planning, vessel rotations and port logistics.
If the allowable draft were reduced, the largest vessels could be forced to transit with partial loads, increasing transportation costs and potentially adding pressure to the freight market.
The Panama Canal Authority will continue monitoring water levels and weather conditions and will provide advance notice of any future changes to vessel draft requirements.
Read also
French agribusiness group Malteurop acquires malting plant in China
Palm oil price declines on profit-taking after weekly gains
Argentina’s sunflower planting area to remain unchanged from last season — BAGE
Heavy rains threaten Australia’s chickpea crop and delay harvest
USDA acknowledges error in September US corn crop forecast
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon