The Panama Canal Authority is administering additional vessel cuts from 29 to 25 daily transits in the coming weeks in order to accommodate for the ongoing drought. By February, reductions will be as low as 18 ships per day which is the equivalent to about 40% – 50% of full capacity.
Wait times are expected to continuously increase across the board, with a 0.5 day increase on the Atlantic side and a 2.2 day increase on the Pacific side so far. Currently, vessels are crossing the canal 40% lighter. To meet weight and safety requirements, some containerships are being unloaded and moved by road or rail across Panama.
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