Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
Panama Canal expects a surge in daily transits next month

Panama Canal expects a surge in daily transits next month

Posted on December 26, 2023   |  

Beginning in January, the Panama Canal Authority (ACP) will increase daily transits to 24, superseding the previously announced slots of 20 for January and 18 for February.

The decision to raise transits comes in response to significant rainfall over the past six weeks, leading to improved water levels in the canal.

Currently, the canal permits 22 daily transits, dividing them into 6 neopanamaxes and 16 panamaxes, addressing challenges posed by low water levels in Gatun Lake.

The restriction on transits is a measure taken due to the current state of Gatun Lake, experiencing unusually low water levels attributed to drought induced by the El Niño phenomenon.

In November, Panama Canal transits decreased to 783, equivalent to 26 crossings per day, marking a decline from October's 32.4 and the year-to-date average of 33.9. The 2022 average was 35.5 transits per day.



Previous Next