Tag: panamax vessels

A temporary measure has been adopted by the Panama Canal Authority (ACP) to provide one special auction slot for boats that are waiting to travel through the channel.

According to CNBC, the Panama Canal Authority (PCA) is advising consumers that its latest conservation efforts to preserve water would entail reducing the number of daily transits, mostly in its Panamax locks, to 32 to 30 transits per day, down from 36 to 34 transits per day.

After a severe drought affecting the Panama Canal, the Canal is forcing container vessels to lighten their loads in order to reduce their draft. 

ZIM Integrated Shipping Services on 19th April, held the naming ceremony of two 15,000 TEU LNG-powered containerships, under the agreement with Seaspan Corporation .

The dredging of the waterway to handle Neo-Panamax vessels has been finished, as Mariel Container Terminal (TCM) announced earlier this week. 

Baltic Exchange’s main sea freight index posted its biggest monthly percentage gain in five months, supported by higher rates across vessel segments.

Marubeni Corporation along with the Norwegian ship owner Klaveness, agreed to establish a new pool management company named "Maruklav Management Inc". Specifically, both sides will run a global fleet of Panamax-size bulk carriers, scheduled to start operations on 1st of April 2020.

The fundamental balance in dry bulk shipping has gotten worse during 2019, with supply growth outstripping demand, and BIMCO forecasts that this will continue into 2020. Namely, after peaking in September, the fundamentals of the market have started to drag on freight rates.

Panamax vessels, Aframax vessels, and Suezmax vessels are some of the most prevalent vessel types. But what do they mean and what kind of ships do they represent?

The Panama Canal Authority announced on July 25 the increase to the maximum authorised draft for Neopanamax vessels sailing through the Panama Canal, due to recent rainfall that impacted the area. The maximum authorized draft allowed for vessels transiting the Neopanamax locks will be 13.72 m (45.0 feet) TFW.