The Panama Canal Authority has delayed a planned Neopanamax draft reduction, keeping the 14.63 m limit as it monitors Gatun Lake levels and expected El Niño-related drought conditions.
Panama Canal Authority will cut the Neopanamax maximum draft to 14.63 m on 26 August and 14.48 m on 3 September under its water management measures.
The Panama Canal Authority will lower Neopanamax draft limits in July and August as it manages Gatun Lake water levels during forecasts for a severe El Niño.
Panama Canal congestion is rising ahead of June lock maintenance, with reduced transit slots expected to add pressure to shipping schedules and freight costs.
Panama Canal officials say auction slots are part of the planned transit system, as U.S. energy cargo demand lifts prices and bookings.
A fuel tanker explosion near the Panama Canal’s Pacific entrance injured four people, left one worker believed dead, and briefly closed the Bridge of the Americas without affecting vessel traffic.
COSCO Shipping said it will stop calling at Panama’s Port of Balboa, according to a notice shared with La Prensa, following Panama’s move to retake control of key canal ports.
CK Hutchison says Panama Ports Company began arbitration under ICC rules after Panama’s Supreme Court ruled the Balboa and Cristóbal port concession “unconstitutional.”
Panama has unveiled an US $8.5 billion schedule to strengthen the canal’s resilience, expand water capacity, and modernise infrastructure amid growing global trade and climate challenges.
