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Panama Canal defers Neopanamax draft reduction

The Panama Canal Authority on Friday postponed further a planned reduction in the maximum draft allowed for its Neopanamax locks to '14.48 meters (47.5 feet), which was scheduled to go into effect on October 1. This decision was made due higher than expected water levels at Gatun Lake, and favorable weather forecasts.

A ship's draft is the minimum depth of water it needs to be able to float. If the limit is lower, the vessel may need to carry less cargo to get through the canal.

In the Neopanamax lock, a maximum draft of 48 ft (14.63 meters) will continue to be allowed. The authority didn't give a new deadline for the potential reduction, but said that it would make any future adjustments to draft?in due time.

The authority delayed the move from 14.48 meters up to 14.63 meters for the Neopanamax locks until October 1.

The move was accompanied by a reduction in daily transits to prepare for an El Nino-like season that is expected to lower water levels. This reverses a previous promise not limit vessel passage.

(source: Reuters)