Tag: Panama Canal

The Panama Canal announced that it will increase the current number of daily transits from 32 to 33, effective July 11.

In an era marked by geopolitical tensions, economic unpredictability, and climate variability, the Panama Canal emerges as a critical linchpin in the global trade landscape, Dr. Ricaurte Vásquez Morales, Administrator of the Panama Canal highlights.

The Panama Canal Authority has issued an advisory to shipping lines stating that, effective on 30th May, it will increase the maximum authorized draft to 45 feet.

In this week’s “Shipping Number of the Week” from BIMCO, Shipping Analyst, Filipe Gouveia, explores how the limits in daily transits in the Panama Canal have significantly affected the dry bulk market, with transits down 74% y/y between January and April 2024.

On May 23, 2024, the Panama Canal Authority ordered ten hybrid tractor tugboats from European shipbuilder Astilleros Armón, with an option for ten more.

According to an analysis by Xeneta, water levels rise in the Panama Canal, so do hopes that ocean freight container services can return to business-as-usual following more than a year of restrictions due to drought.

To accommodate LNG customers, the Panama Canal Authority is reportedly considering modifying slot allocations and conducting surveys to identify their needs.

According to news, the Panama Canal will permit more ships to pass through daily, attributed to indications of improving water levels amid the ongoing drought conditions.

The Panama Canal has undertaken the task of dispelling misconceptions surrounding the recent drought's impact on its operations.

Ilya Espino de Marotta, who is the first Chief Sustainability Officer for the Panama Canal & Deputy Administration, reveals her priorities to address the challenges posed by climate change. The Canal has always been focusing on sustainability, however it now embarks on a new and more ambitious era. Following the implications of the recent drought, the Canal has implemented an operational strategy and has taken action with investments and collaborations to ‘’thrive in a new climate economy’’.