Padmesh Prabhune –
Having implemented its restrictions due to falling water levels in its reservoir for quite some time, the Panama Canal Authority now will continue its gradual restoration of daily transits and add a foot to the maximum draft. The decision was made after an analysis of the water levels, efforts to save water and increase storage, and a slight increase in rainfall levels in April ahead of the traditional rainy season.
In an advisory, the authority wrote that it plans to continue to further ease the restrictions based on the success of its water conservation efforts and expected rainfall. They hope to return to the level of 36 to 39 daily transits and be back to “normalized operations” by 2025.
The increase in transits is especially good news for bulkers, car carriers, and gas carriers as well as smaller containerships as the increases in transits are slated for the original Panamax locks. After a week-long period of maintenance in May that will restrict transits, the number of daily crossings will be increased primarily for the” Supers” category, Panamax vessels with a beam over 91 feet. Five slots will be restored for a total of 18 daily transits for Supers with a total of 31 daily transits being conducted.
Starting in June, the Panama Canal Authority will also add one additional slot for the largest vessels transiting the canal through the new Neopanamax locks. They will increase from seven to eight the number of vessels and as of mid-June also add one foot back to the maximum authorized draft. It will increase to 45 feet as of June 15, which while below the pre-draft levels which were as high as 50 feet, will still further reduce the challenges for the largest ships. Some containerships have been transshipping boxes across the isthmus to reduce their draft.
These moves come in advance of the rainy season which traditionally runs from May to December in Panama. Last year, the Panama Canal Authority reported a significant decline in rainfall resulting in the driest October since 1950. The authority had mapped a strategy that could have seen transits fall to a lower of 18 per day but they were able to cap the restrictions at 22 daily transits. Marex Media