Panama Canal transits increase daily

The Panama Canal Authority has announced recent operational improvements that include increasing daily transits from 24 to 31, especially favouring Panamax Classic size container vessels. From 1 June, an additional transit for Neopanamax vessels will be added, bringing the total to 32. In addition, from 15 June, the maximum permitted draft for vessels will be increased to 13.7 metres, optimising conditions for navigation.

 

A Norwegian consultancy has observed significant fluctuations in spot rates, which in January 2024 exhibited differences of more than USD 2,000 per FEU on certain routes. Although the situation shows signs of improvement, there are warnings that the effects of the drought on the Canal could last for several years.

 

With the water level in Gatun Lake showing signs of recovery and an increase in the number of transits, there is hope that the Panama Canal can return to operational normality. However, full stabilisation of these operations will depend on future weather conditions and will be a gradual process.