The Panama Canal Authority will reduce the maximum authorised draught for Neo-Panamax vessels from 15.24 metres to 15.09 metres of tropical fresh water from 1 July, citing falling levels at Gatun Lake and the growing risk of El Niño conditions later this year.
The authority said the adjustment forms part of its broader water-management strategy and seasonal dry-season planning, adding that it will not affect daily transit capacity. The measure comes as canal traffic remains elevated, driven by shifting global energy routes, with transits recently nearing the waterway’s upper operating range and auction prices for passage slots hitting record levels.
The ACP described the move as precautionary and consistent with past dry-season practice, reinstated after a period of relatively stable water availability. It added that it will continue to monitor weather conditions and review forecasts weekly to assess any further impact from El Niño on operations at the Panama Canal.