The Panama Canal Authority will limit ship depth due to drought. New restrictions start on June 25, limiting neo-Panamax ships to 43.5 feet (13.3 meters), down from 44 feet.
The drought has caused water levels in the canal to drop to their lowest level in 70 years. This has forced the Panama Canal Authority to reduce the maximum ship depth in order to ensure the safety of navigation.
The new restrictions will impact 10% of canal ships, requiring cargo reduction or weight shedding. Panama Canal Authority predicts a $100 million annual revenue loss due to these restrictions.
The drought will persist throughout the year, possibly leading the Panama Canal Authority to enforce stricter measures if water levels don’t rise.
Here are some additional details about the new restrictions:
- The restrictions will apply to all neo-Panamax container ships, regardless of their nationality.
- The restrictions will be in place until further notice.
- The Panama Canal Authority is monitoring the drought situation and will adjust the restrictions as needed.
The new restrictions reflect the Panama Canal’s climate change challenges. It is a crucial shipping route for global trade. The drought’s impact could be significant for the global economy.
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