Hagood Morrison’s Post

"Giant MSC Marie sets Panama transit record." The 366 m long, 17,640 teu MSC Marie has become the largest container vessel to transit the canal’s neopanamax locks, surpassing the 17,312 teu Ever Max which passed through Panama a year ago. Consistently strong rains will allow the Panama Canal to accommodate 36 transits a day from this month with the interoceanic waterway getting ever closer to maximum operating conditions. Having been battered by a severe drought for 12 months from May last year, the Panama Canal Authority (ACP) has been working out solutions to ensure greater water security. Preparations for a $2bn expansion of one of the canal’s water reservoirs, following approval by Panama’s Supreme Court, are expected to take 18 to 24 months, the ACP revealed last month. In another sign that operations are getting back to normal at the Panama Canal, the waterway on Friday saw a boxship cargo record broken. #Shipping #containershipping #PanamaCanal #MSC #Panamax

The latest data from the Panama Canal Authority (ACP) shows there are just 45 ships in the queue awaiting transit, exactly 50% less than the historical average of the last eight years. At the worst of the canal congestion last August there were more than 160 ships waiting at which point the canal’s administrators let it be known that the restrictions would be in place for many months to come leading to the shipping industry deciding en masse to seek alternative routes. #panamacanal #panama #oceanfreight

Exciting news – The Panama Canal is set to increase daily vessel transit slots from 34 to 36 starting in September due to improved water levels from early rains, following a period of severe drought in 2023 that had reduced transits and caused long wait times. Deputy Administrator Ilya Espino announced the gradual increase, aiming to return to normal operations by September without reducing transit slots during the summer, only adjusting the draft as needed. To enhance operational competitiveness and secure water sources, the canal authorities plan to build a new reservoir in six years at a cost of about $1.6 billion. This project aims to ensure sufficient water supply for continuous canal operations. This increase in transit capacity is expected to boost total revenues by 18% to $5.6 billion for the 2024-2025 fiscal year, with state contributions growing 13%. #AllWaysForwarding #Shipping #FreightForwarding #CustomsClearance #SupplyChain

𝐆𝐢𝐚𝐧𝐭 𝐌𝐒𝐂 𝐌𝐚𝐫𝐢𝐞 𝐬𝐞𝐭𝐬 𝐏𝐚𝐧𝐚𝐦𝐚 𝐭𝐫𝐚𝐧𝐬𝐢𝐭 𝐫𝐞𝐜𝐨𝐫𝐝 In another sign that operations are getting back to normal at the Panama Canal, the waterway on Friday saw a boxship cargo record broken. The 366 m long, 17,640 teu MSC Marie has become the largest container vessel to transit the canal’s neopanamax locks, surpassing the 17,312 teu Ever Max which passed through Panama a year ago. Consistently strong rains will allow the Panama Canal to accommodate 36 transits a day from this month with the interoceanic waterway getting ever closer to maximum operating conditions. Having been battered by a severe drought for 12 months from May last year, the Panama Canal Authority (ACP) has been working out solutions to ensure greater water security. Preparations for a $2bn expansion of one of the canal’s water reservoirs, following approval by Panama’s Supreme Court, are expected to take 18 to 24 months, the ACP revealed last month. 

The Panama Canal, a critical artery of global #breakbulk and #projectcargo trade, has issued an advisory to #shipping lines stating it would raise the maximum authorized draft to 45 feet. The adjustment, originally scheduled to take effect on June 15, was implemented earlier at the end of May due to the expected onset of the rainy season in the Panama Canal Watershed and the current and projected levels of Gatun Lake over the coming weeks. As a result of the higher draft, the number of daily transits in the #Panamax locks has increased from 17 to 24 and the number of daily transits in the #NeoPanamax locks has risen from 7 to 8. “This adjustment will raise the total number of vessel transits per day to 32,” the Panama Canal Authority (Canal de Panamá) said in a filing.

Update on Panama Canal transit   Starting March 25, the canal started allowing 27 slots per day, thanks to the water saving measures taken this dry season and considering the projected water level of Gatun Lake.   While bulk cargo, gas and container ships make up the usual transit, other types of shipments have been seen lately, like liquefied petroleum gas.   Because of the drought that started last year, daily transit was reduced, increasing the average days in queue. For many shippers, it is still the fastest maritime route from Asia to the U.S. East Coast, but others opted for alternative routes, such as the Cape of Good Hope or redirecting cargo to West Coast ports.     #panamacanal #panamacanaltransit #drought #shippingsolutions #containershipping #globaltrade #seafreight #supplychain   +52 (81) 8174 8000 www.crossdock.mx

There's been some good news overnight with the Panama Canal Authority (PCA) announcing that due to solid amounts of rain, they will be increasing the number of daily transit slots available in the older Panamax Locks. Starting March 18, two more slots will be up for auction, with an additional one added on March 25. This means a boost from 24 to 27 daily transits, providing vessels a better chance for Canal passage. While still below the usual 36 (transits daily), this is great news given the issues with the Suez routing. https://lnkd.in/g3KbxK3b

🇵🇦 🚢 🌧 #Panama #Canal Looks to Boost Transits in September as Rains Come Early ⬆ The Panama Canal expects to increase the number of daily transit slots for vessels to 36 from the current 34 beginning in September. 📉 Panama experienced its third-driest year on record in 2023, lowering the canal’s water level and forcing its authority to limit the number of vessels. For more: 👉 https://lnkd.in/gSvGVsG4

Panama Canal needs massive amounts of fresh water to facilitate the passage of ships. For instance, the passage of a single ship needs more than 50 million gallons (almost 200 million litres) of water. While over 36 ships pass through the canal each day on average (Dec 2023), traffic has dropped to as low as 22 ships a day now.

New ocean shipping coverage: (1) January Panama Canal stats are out, and they’re worse than expected. Even with added reservations slots versus December, January transits fell month on month, with Neopanamax transits falling faster than Panamax transits. The bottom in Panama has not yet been reached. (2) How the global supply chain crisis has changed shipping journalism coverage. It’s a very different media environment out there than it was pre-COVID. See these two stories here: https://lnkd.in/eySGaz49