The Panama Canal Authority will lower the maximum authorized draft for Neopanamax vessels in two additional stages as it manages water levels during forecasts for a severe El Niño.
In a 1 July announcement, the authority said the measures form part of its water management strategy. It is monitoring Gatun Lake, the main reservoir used for canal operations.
The Neopanamax draft limit will fall to 49 ft on 24 July. A further decrease to 48.5 ft is expected on 15 August. The normal 50 ft draft had been maintained during the spring, before the first reduction was introduced in June.
The new limits are less severe than the restrictions used during the 2022–2023 drought. At that time, the canal repeatedly lowered draft levels to the 43 ft to 44 ft range, before reaching a low of 38.5 ft. Daily transits were later reduced.
Those restrictions led to vessel backlogs and higher bids in auctions for booked transit slots. Large gas carriers diverted around South America, while larger container ships discharged boxes for transshipment across the Isthmus.
The authority is moving earlier in the water management cycle to reduce the risk of similar disruption.
As of 6 July, the canal’s online dashboard showed stable operations. Ten vessels without reservations were waiting, while 65 vessels with booked slots were standing by near the canal’s entrances. Waiting time for non-booked northbound vessels was four days, down from 11.5 days last month. Southbound waiting time was 1.8 days, compared with 15 days in June.
The source also stated that canal volume increased this year following the reported closure of the Strait of Hormuz and regional disruptions. It also cited reports of record prices in auctions for available transit slots.
The Panama Canal Authority said it appreciates the continued understanding and cooperation of the maritime community.
