Panama Canal Authority Announces Increase in Daily Transits for January 2024

Panama Canal Authority Announces Increase in Daily Transits for January 2024

Amidst global challenges in maritime navigation due to incidents near the Suez Canal and ongoing restrictions in the Panama Canal, the Panama Canal Authority has shared positive news regarding an increase in daily transits for January 2024.

The announcement follows a favorable turn of events as November’s rainfalls and lake levels proved to be less adverse than anticipated. Currently, the Panama Canal Authority authorizes 22 vessels to transit, compared to the usual 36. In a positive development, this number is set to increase to 24 next month.

The decision to boost the maximum number of daily transits comes as a relief for carriers grappling with challenges rerouting ships away from the Suez Canal due to recent vessel attacks off the coast of Yemen and restrictions in the Panama Canal attributed to low water levels.

The Panama Canal faced a particularly dry October in 2023, marking the driest October on record for the Canal Watershed. In response, the Panama Canal Authority had previously announced additional restrictions on daily transits, reducing ship movements through the neo-panamax locks from six to five per day in January, down from the usual ten in regular circumstances.

However, starting January 2024, the Panama Canal Authority will permit seven neo-panamax ships to transit daily, providing increased flexibility for maritime traffic. In November 2023, the shortcut between the Atlantic and Pacific Oceans saw a decrease in usage, with only 132 container ships, marking a 19.5% drop compared to the previous month. Overall shipping traffic experienced a significant decline of 27.8%, as operators of dry bulk ships sought alternative routes.

This adjustment in the daily transits aims to enhance the efficiency and reliability of the Panama Canal, offering a positive outlook for global shipping amid challenging times.

Sources: Alphaliner

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