Panama Canal: transits reduced to 32 a day due to the drought

From tomorrow, daily transits through the Panama Canal will fall from 34 to 32, and are expected to fall further to an average of 29.5 per day from October onwards due to lower-than-expected rainfall during the wet season, a decline attributed to El Niño. The Canal Authority has scheduled nine transits for Neopanamax vessels and 23 for Panamax vessels. The draught limit has already been reduced to 14.63 metres, and a further reduction to 14.48 metres – postponed until 1 October – could force ships to reduce their cargoes. The problem stems from the water availability in Gatún Lake, which is fed by rainfall and is also used to supply drinking water to a significant proportion of the Panamanian population. The situation risks affecting Central American exporters, particularly those from Guatemala, with possible increases in transit times and transport costs to South America. According to trade associations, shipments of sugar, rubber, insecticides and chemicals are particularly at risk. The Canal handles around 6 per cent of global maritime trade. (ANSA).