Industry News

Panama Canal Restriction

August 31 2015

Panama Canal Authorities suspend restriction on vessels because of low level at the Gathun Lake’s. El Niño Phenomenon help the most in Panama. where they got enough rainfall in the Canal Watershed.

Even though water lever it still below normal level,  vessels are still allowed to go though the canal. In the case of any changes there will be at least a 4 week notice.

On June the Panama Canal began their test on the new locks for their opening planned for  April 2016. After changing the original opening date, October 2015 and with a $100 million over budget. Jorge Quijano, the Panama Canal Authority’s administrator, thinks the waiting is worth for.

“We expect some of the diversion from the West Coast to continue, and we expect to grab back most, if not all of what we have lost (to the Suez Canal) by not having post-Panamax vessel capacity,” Quijano told JOC.com.