Following Panama Canal’s implementation of “Freshwater Charge” for ships transmitting the canal from 15 February 2020, the authorities announced that from 30 March 2020, the Maximum Authorized Draft for vessels transiting the Neopanamax locks will be 13.87 m (45.5 feet), Tropical Fresh Water (TFW), due to low water levels.
Based on the present and projected level of Gatun Lake for the upcoming weeks, vessels arriving Panama Canal after 30 March 2020, with drafts over 13.87m (45.5 feet) TFW, might be allowed to transit, depending on the actual levels of the lake at the time of transit.
Otherwise, they will be required to trim or off-load cargo in order to be allowed to transit.
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Draft adjustments will be further announced in 6-inch (15.24 cm) increments, generally with at least four weeks advance notice.
Panama Canal Authority will keep monitoring the Gatun Lake levels, so as to announce future draft adjustments in a timely manner.
Overall, following the new freshwater charge that was applied, the International Chamber of Shipping (ICS) alerted that this move will increase costs to ships by up to 15%, as shipping will face potential $370 mil. blow.
