Panama Canal increases crossings as drought eases

The Panama Canal will increase booking slots for its Panamax locks from May 16 due to estimated water levels of the artificial lake which it draws from, the canal authority said on Monday, pointing to an easing of a drought that had caused cuts in daily crossings.

An additional slot will become available in the Neopanamax locks starting in June, according to a statement by the authority.

A total of 24 ships are scheduled to cross daily from May 7 to May 15, a number set to come up to 31 a day starting May 16.

Another ship will be added from June 1, and the number of crossings is set to stand at 32 a day until further notice.

The canal has imposed several restrictions to crossings since 2023, though last month it also bumped up daily crossings.

The need to maintain water levels at the reservoirs feeding into the canal has prevented it from absorbing demand from shippers seeking alternative routes away from the Red Sea, where Houthi attackers have blocked the passage of ships in the Suez Canal, the world's busiest waterway.  — Reuters