BTX Global - Panama Post
/Today, the canal sees an average of 31 transits per day, which is down from 32 this summer. By February 1st, the number of daily transits will drop to just 18 per day if low rainfall persists. Note that the statement to reduce number of daily transits to 18 on February 1st was NOT official and is only speculative at this point, based on the presumed continuation of current weather conditions.
As of last week there were approximately 123 vessels awaiting transit through the canal (in both directions). This included container vessels, bulk vessels, fishing vessels, tankers, cruise vessels, and pleasure crafts. Of these 123 vessels awaiting transit, just seven of them were container ships en route to the US from Asia.
Currently, container vessels which are using the Panama Canal from Asia to the US East and Gulf Coast ports are still not experiencing significant delays through the Canal. There are two main reasons for this –
Liner operators are vigilant in making specific transit reservations, and have been able to consistently hit such reserved transit windows
Liner operators pay among the highest in transit tolls to the Panama Canal Authority, ensuring their priority in passage through the locks
While today there are still no significant delays to container vessels from Asia as a result of the reduced number of daily transits, we cannot rule-out longer transits and delays if the number of passages continues to decrease in 2024. However, we do not have enough insight at this time to make a prediction one way or another. We are here to help - please reach out with any questions and/or if you would like to explore contingency options.
