The Panama Canal Authority (PCA) has implemented lower draft restrictions for ships with the highest capacity through the route of trade. These restrictions were announced on April 19th. The restrictions were imposed in response to the current drought which have resulted in a drop in levels of water at nearby lakes that are part of this waterway. The result is that there’s five adjustments of this sort since the beginning of the year.

These restrictions require that Neo-Panamax containerships must adhere to a maximum of 47.5 feet as opposed to 50 feet, to be able to pass through the canal linking the Atlantic Pacific and Atlantic Oceans. Therefore, vessels must be lighter or carry smaller quantities of cargo onboard.

In the last month in the month of September, the PCA predicted a decrease in cargo volumes in the fiscal year 2023 due to tensions in the geopolitical arena and shifts in shipping routes.

Source: worldports.org