The Panama Canal will cut the maximum authorised draught for Neopanamax vessels to 47.5 feet from 3 September in the latest tightening of transit restrictions, according to the Panama Canal Authority.
The move comes as the US National Oceanic and Atmospheric Administration puts the chance of a historic El Niño in October-December at 69%, potentially exceeding the strength of every event in its record dating to 1950.
NOAA sees a greater than 90% probability of a very strong El Niño during the Northern Hemisphere autumn and winter of 2026-27.
The canal will first lower maximum Neopanamax draught to 48 feet, or 14.63 metres, from 26 August before cutting it again to 47.5 feet, or 14.48 metres.
The reductions are the fourth and fifth draught adjustments announced by the authority and are based on current water levels and projected conditions at Gatun Lake. Daily transit numbers will not be reduced.
The canal handled 1,055 oceangoing transits in July, averaging 34.03 per day, including 310 Neopanamax vessels. Of 306 auctioned booking slots available during the month, 247, or 80.72%, were used.
Container lines are also raising Panama-related charges. MSC will levy $149 per 20-foot container, $297 per 40-foot container and $376 per 45-foot container from 12 September on cargo from Southeast Asia, China, South Korea and Japan to the US East Coast and US Gulf Coast.
French transport and logistics group CMA CGM will apply a $500 per TEU Panama Canal Adjustment Factor from 10 September on Far East cargo moving through the canal to the US East Coast and US Gulf Coast, excluding Bangladesh-US East Coast shipments.
The Panama Canal Authority is an autonomous legal entity of the Republic of Panama responsible for administering, operating, conserving, maintaining and modernising the canal.