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Severe drought! Shipping restrictions have been announced on the Panama Canal

Release time: 2023-05-31   Browsing:115次
According to One Shipping recently learned: Near the strait connecting the Atlantic and Pacific oceans, rainfall is less than 50% of the normal level, greatly limiting the draft of ships and cargo capacity.
A severe drought has forced the Panama Canal to impose restrictions on shipping, which means container ships will have to pay less and more for lighter loads. The cost of transporting goods through the canal is expected to rise further this summer, and shipments are expected to face delays.
Starting May 24, new Panamax vessels (the largest vessels to pass through the waterway) will be allowed a maximum draft of 44.5 feet (13.56 meters), up from a previous limit of 45 feet; By May 30, the draft limit will be lowered again to 44 feet. While this may seem like a small change, it could reduce cargo on some container ships by as much as 40 percent.
In response to the canal restrictions, at least four shipping companies have announced weight limits or imposed container fees of $300 to $500 per container starting June 1 in response to the canal's measures. As restrictions increase, more shipping companies may follow suit.
Shippers from East Asia to North America will have to pay a surcharge of PCC on all cargoes from June 1, shipping company Hapag-Lloyd said in an April 30 customer advisory.
The 44-foot draft limit will leave most shippers with 40 percent less room on the Neo-Panamax, meaning that more ships will be needed to carry the same amount of cargo, which could increase the amount of time ships wait in line to pass. Some shippers will have to split heavier loads into two containers instead of one, with ships carrying heavier loads disproportionately affected. The measures could cost importers and retailers using the route an extra $1,500 per container.