The Panama Canal Authority (PCA) has enforced lower draft restrictions on the largest ships voyaging across the trade route. The restrictions were introduced on 19 April. The new measures are due to recent drought conditions that have led to dropping water levels at the nearby lakes that form part of the waterway. This means there is now a fifth adjustment of its kind since the start of the year.
The restrictions necessitate that neo-Panamax containerships comply with a maximum depth of 47.5 feet, down from 50 feet, in order to cross the canal connecting the Atlantic and Pacific Oceans. This therefore requires vessels to weigh less or otherwise handle less goods onboard.
Last month, the PCA forecasted a decline in cargo volume for the 2023 fiscal year due to a combination of geopolitical tensions and changes in shipping routes.
Source: worldports.org