The Panama Canal Authority (ACP) has postponed a planned reduction in the maximum authorized draft for vessels using the Neopanamax locks, providing near-term certainty for ship operators while freshwater constraints continue to affect canal capacity.
The maximum Neopanamax draft will remain at 48 feet (14.63 metres) Tropical Fresh Water. A reduction to 47.5 feet (14.48 metres), previously scheduled to take effect on October 1, has been put on hold following the ACP’s latest assessment of Gatun Lake levels and weather forecasts.
Context: Dry Bulk Intelligence File · Panama Canal shipping restrictions guide · Panama Canal Authority · Panama Canal
The authority said retaining the current limit would support continuity in voyage planning and vessel deployment. It will continue to monitor water conditions and provide advance notice if further changes become necessary.
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Operational context
The decision follows several adjustments to restrictions introduced during the summer as rainfall across the canal watershed fell below expectations. The maximum Neopanamax draft was progressively reduced from 49.5 feet to 49 feet and then to 48.5 feet as Gatun Lake levels declined. Implementation of the 48-foot limit was delayed from August 26 until September 2, while the proposed 47.5-foot restriction was initially moved from September 3 to October 1 before being postponed.
Although the latest decision eases immediate concerns over vessel loading limits, the canal is proceeding with reductions in daily transit capacity. Neopanamax capacity was cut to nine daily slots from September 3. Panamax capacity was set at 25 slots and is scheduled to decline to 23 on September 15.
The measures are intended to preserve sufficient freshwater for reliable operations while the waterway continues to face strong demand. Canal Administrator Ricaurte Vásquez has warned that a developing El Niño could result in unusually low precipitation for about eight months.
Traffic has also risen amid disruptions elsewhere in global shipping. According to the source, the canal had been handling around 34 vessel transits per day before the Iran War, including approximately seven tankers. Traffic later increased to as many as 40 or 41 vessels per day as additional ships were routed through Panama, intensifying competition for reservations and auctioned transit slots, particularly among energy carriers.
The ACP has encouraged operators to reserve passages in advance. Vessels arriving without bookings were recently experiencing average waits of about 8.5 days. During the severe 2023-24 drought, the backlog reached 154 vessels and waiting times extended to as much as 21 days.
Water-saving measures introduced since that drought include increased use of the Neopanamax locks’ water-saving basins, simultaneous lockages for smaller ships, use of interior lock gates and lower hydroelectric generation at Gatun Dam.
The authority is also advancing the proposed $1.6 billion Río Indio Reservoir Project, intended to add a freshwater source and strengthen the canal’s resilience during future droughts. Further draft adjustments remain possible as Gatun Lake and weather conditions evolve.