Panama Canal Continues Draft Restrictions, Ocean Carriers Up Fees

• Ocean carriers are raising surcharges as the Panama Canal continues to take precautionary measures in case of a drought.
• The Panama Canal has been implementing water-saving measures to prepare for potential weather impacts from the looming El Niño climate pattern expected in the second half of 2026. A drought hit the canal in 2023 and 2024, leading to longer transit times and higher transit fees.
• In its latest draft adjustment, the major waterway announced that the maximum authorized draft for vessels transiting the Neopanamax locks will be 48 feet, effective Aug. 26. The next draft is set at 47.5 feet, effective Sept. 3.
• The Panama Canal had already implemented two separate draft measures earlier this summer. These reductions represent the fourth and fifth draft adjustments announced by the Panama Canal Authority.
• The measures are the result of operational planning informed by lessons learned during the 2023–2024 period, as well as hydrological analyses and historical data that support the canal’s operational decision-making process,” according to a press releasefrom the Panama Canal.
• Due to the ongoing draft restriction, ocean carriers have recently updated their previous Panama Canal surcharges. 

(Source: SupplyChainDive)