The Panama Canal is gradually reducing its traffic restrictions after months of tightening, which is related to increased rainfall and improved conditions in Gatun Lake.
Increased Tanker Traffic Capacity
As of October 15, the Panama Canal will increase the daily transits of Neo-Panamax tankers to 10. This action raises the total traffic capacity for Neo-Panamax and Panamax tankers to 33 per day. Additionally, the maximum allowable depth for Neo-Panamax vessels has quickly increased to 14.94 meters (49 feet).
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Consequences of Weather Conditions and Demand
These changes indicate a significant return from the defensive measures that were implemented during the summer due to the strengthening of El Niño and weak rainfall. Pressure on the canal has increased this year due to unusual demand for traffic. Disruptions in the Middle East have led Asian buyers to seek more energy supplies from the U.S. Gulf, bringing Panama Canal traffic close to capacity and creating intense competition for securing transit.
It is expected that there will be sufficient rainfall in the next 10 days to support Gatun Lake. Forecasts indicate that rain or thunderstorms are expected daily around Gatun. The most notable day is tomorrow, with over 20 millimeters of rain expected, followed by several days with rainfall of 10 to 20 millimeters.
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