Panama increases draft limit for Neopanamax vessels

The Panama Canal Authority has raised the maximum authorised draft limit for vessels transiting the Neopanamax locks to 49 feet, up from the previous limit of 48 feet.

PHOTO: The Port of Balboa at Panama's Pacific Ocean side. Getty Images

This change, driven by the current and projected water levels of Gatun Lake, aims to enhance the canal's efficiency, the authority says.

Starting in September, the Panama Canal will also increase the number of daily transit slots from 34 to 36, further improving its capacity to handle maritime traffic.

In addition, a new Long-Term Slot Allocation (LoTSA) method for Neopanamax vessels was introduced last week.

Transit slots for Neopanamax vessels used to be allocated daily, leaving shipping companies only a short period between booking and transit.

In the new system, shipping companies can book multiple transit slots in advance, and in one transaction.

By Debarati Bhattacharjee

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