Panama Canal Authority ups number of available spots in Panamax locks

In an advisory issued yesterday, the Panama Canal Authority (ACP) announced a new adjustment to accommodate the growing demand for transits, by increasing the number of daily slots available in the Panamax Locks. ACP officials said that this announcement was made in response to the present and projected level of Gatun Lake.

As previously reported by LM, drought conditions at the Panama Canal have significantly hamper operational throughput on various fronts, going back over the last several months. Late last year, it said that in 2023, there had been 41% less rain than usual, which lowered Gatun Lake to what it called unprecedented levels for that time of year. Taking steps to address these challenges, ACP, in November, rolled out reservation slots, with the objective of maintaining a competitive draft from November to February, including: November 3-11, 25 reservation slots; November 8-30, 24 reservation slots; December 1-31, 20 reservation slots; January 1-31, 20 reservation slots; and as of February 1, 2024, 18 reservation slots.

ACP said those measures were being implemented in order to preserve fresh water resources and also to ensure the safety of transit operations like using water reutilization basins in the Neopanamax locks and also cross-filling in the Panamax locks.

In its advisory issued this week, ACP said that two additional slots will be offered through auction for transit dates, starting on March 18, with an additional slot becoming available for transit dates, starting on March 25, with slots for Panamax vessels to increase from its current number, at 17, to 20, beginning the week of March 18-25, and slots for Neopanamax vessels to remain at 7.
“Panama Canal specialists are closely monitoring the current water situation, and the measures announced [yesterday], published in the Advisory to Shipping, will remain in effect until conditions warrant changes, which will be announced in a timely manner,” said ACP officials.

Please click here to see previous LM coverage of the Panama Canal situation.