LOGISTICS: Panama Canal to add more transit slots in May

HOUSTON (ICIS)–The Panama Canal Authority (PCA) will increase the number of slots available for Panamax vessels to transit the waterway beginning 16 May and will add another slot for Neopanamax vessels on 1 June based on the present and projected water levels in Gatun Lake.

The PCA began limiting the number of transits in August 2023 because of low water levels in Gatun Lake brought on by a severe drought that made 2023 the second driest year on record for the Panama Canal watershed catchment area.

It was the first time in its history that transits were limited.

The PCA opened two additional slots beginning 18 March, and a third on 25 March, bringing the total to 27/day, after solid rainfall in the region recently, but transits still remain well below 36 under normal conditions.

The following table shows the number of available slots for booking dates from 7-15 May.

The following table shows the number of available slots for booking dates from 16-31 May.

The following table shows the number of available slots for booking dates from 1 June – 14 July.

There will be some temporary reductions of booking slots during scheduled maintenance between 7-15 May, the PCA said.

The number of ships transiting the Panama Canal daily – using a seven-day moving average – fell to 24 as of 17 April from 27 on 8 April, and compared with 38 on the same date a year ago, according to the most recent update at IMF PortWatch.

Wait times for non-booked northbound vessels ticked higher to 1.8 days, and surged to 4.6 days for southbound vessels on 22 April, according to the PCA vessel tracker.