Sunday, October 1, 2023
HomeHeadlinesDrought-hit Panama Canal restricts daily crossings in water-saving move

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Drought-hit Panama Canal restricts daily crossings in water-saving move

The Panama Canal will extend restrictions on ships’ maximum depth, it said on Tuesday, and it has limited average crossings at one of the world’s busiest trade passages to just 32 ships a day as a prolonged drought continues.

The Panama Canal Authority (ACP) will maintain a depth limit of 44 feet, or 13.41 meters, for neo-Panamax container ships.

In June, the authority put off further restrictions that would have brought depth limits up half a foot, meaning ships would have needed to lighten their loads to float higher.

During Panama’s rainy season, an average of 35-36 ships typically cross the canal each day, the authority has said. Each crossing uses some 51 million gallons of water.

About 3.5% of the world’s maritime trade passes through the 80-kilometer inter-oceanic waterway that connects the Atlantic and Pacific Oceans.

The depth limit will remain at the current level as long as weather conditions do not drastically change, the ACP said in a statement.

“As part of a worldwide phenomenon, in the last six months, the Canal has experienced an extended dry season with high levels of evaporation, with a high probability of an El Nino condition before the end of this calendar year,” the canal authority said.

Panama typically sees heavy rains in July, and the canal authority called the current lack of precipitation “historically unprecedented.”

Since the beginning of the year, the canal has rolled out water-efficiency measures while bracing itself for the long-term effects of climate change, it said.

Source: Reuters

Related Posts

Video

Finance & Economy
Shipping News
Ports

Sphinx Investment Corp Increases Stake in OceanPal

On September 28, 2023, an OceanPal SEC filing revealed that Sphinx Investment Corp. had raised its ownership in OceanPal, now holding a substantial stake...

Star Bulk Announces the Repurchase of 10 Million of Its Common Shares

Star Bulk announced that it entered into a Repurchase Agreement (with OCM XL Holdings, LP, a limited partnership incorporated in the Cayman Islands, pursuant...

Trafigura announces executive leadership changes

Trafigura Group Pte Ltd. has announced an evolution of its executive team to further strengthen leadership and focus across its global activities during a...

Woori, HMM, KOBC to buy Polaris in prospective $448 mln deal – report

Polaris Shipping Co. is poised to sell its entire stake at around 600 billion won ($447.5 million) to Woori Private Equity Asset Management Co....

Pyxis Tankers Announces Closing of Ultramax JV Investment

Pyxis Tankers, an international shipping company, reported that on September 14, 2023, the Company closed on its previously announced newly formed drybulk joint venture...

Baltic index snaps 4-day winning streak as capesize rates slip

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index scales 11-month peak on strong capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Baltic index scales over 9-month high on capesize surge

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Baltic index rises to over 4-month high on stronger capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Houston-Japan VLGC freight rates reach multi-year high

VLGC freight rates from Houston to Chiba, Japan, reached $245/mt Sept. 21 for the...

Piraeus Port reports strong H1 2023 results

The Piraeus Port Authority SA, which operates Greece’s biggest and busiest port, reported a 48.8-percent increase in pre-tax earnings for H1 2023 – 49.4...

Greece names Thessaloniki port operator preferred bidder for Volos port

Greece’s privatisation agency has named the operator of Thessaloniki port as the preferred bidder for acquiring a 67% stake in the port of Volos,...

Drewry: Port Throughput Index Down 2.1% in July

The Global Container Port Throughput Index fell 2.1% MoM in July 2023, with the small rises recorded in Africa and Oceania having been insufficient...

Vopak: Agreement with Infracapital on sale of Rotterdam chemical terminals

Vopak announces that it has reached an agreement with Infracapital on the sale of its three chemical terminals in Rotterdam (Botlek, TTR and Chemiehaven)...

Port Hedland Iron Ore Exports Edge Up 4% in August

Pilbara Ports Authority has delivered a total monthly throughput of 62.8 million tonnes (Mt) for August 2023, consistent with the August 2022 throughput. The Port...