Low water levels in Gatun Lake delay Panama Canal transits

Low water levels in Gatun Lake have led to a series of operational restrictions by the Panama Canal Authority (ACP) in recent weeks that are causing significant delays in transits through the Panama Canal.

PHOTO: Container ships and jetties in Panama's Port of Balboa. Georgia Tech

Ships that are booked to make port calls in Balboa and Cristobal are facing waiting times of up to 17 days, a source says. Another source notes that there is a backlog of more than 100 vessels near the canal, and that low water levels in the Gatun Lake is the main reason for this.

Severe drought conditions have pushed water levels in the Gatun Lake to four-year lows in recent weeks. The 166 square miles artificial lake forms the majority of the Panama Canal, allowing transits between the Atlantic Ocean and Pacific Ocean. Its water level is critical to efficient marine operations in the region.

As a response to low water levels and a significant increase in transit waiting times, the Panama Canal Authority has reduced booking slots available for Panamax vessels. There are currently only 10 slots available for ships with beams larger than 27.74 meters, also known as "supers", and the number of slots for "regulars" with narrower beams has been reduced to four.

These regulations will remain effective until 21 August to provide more booking slots for smaller vessels other than Panamaxes and Neopanamaxes.

The canal authority plans to maintain a draft limitation of 44.0 feet, down from 50.0 feet at the beginning of this year. This has led to a reduction in the maximum number of daily transits to 32 vessels/day, down from 36 vessels/day.

Last week, the Ever Max, which is said to be the largest container ship to have passed through the canal, had to unload some of its cargo to be able use the waterway, a source said. Due to operational restrictions, the Panama Canal could see a drop of $200 million in its earnings in 2024, the ACP's administrator Ricaurte Vásquez says.

By Debarati Bhattacharjee

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