The Panama Canal Authority (ACP) will continue to restrict transits through the Panamax locks and suspend extraordinary auctions at both Panamax and Neopanamax locks until 2 September.
The "Booking Condition 3" status has been in effect at the canal since 8 August, which limits the number of daily bookable transit slots for vessels with beams from 91ft-107ft at 10, and four slots for ships with beams less than 91ft. The continued suspension of extraordinary auctions means slots initially reserved for the near-term period that are cancelled will not be put up for auction.
Transit restrictions help the ACP conserve water at the drought-hit Gatun Lake, which feeds into the canal's lock system. It has also led to reroutings of some vessels and delays.
"A reduction in the number of daily transits for an extended period will invariably increase the waiting time for some vessels, particularly those who do not obtain a reservation," said the ACP on 25 July.
Panamax lock delays trending down
Despite the extended restrictions at the Panamax locks, delays are down slightly this week.
Northbound waiting days at the canal's Panamax locks were at 12 yesterday, 16 August, down from multi-year high of 19 on 8 August, per Argus data. Southbound delays at those locks were at 12 yesterday, down from a high of 19 on 10 August.
The queue of vessels without booking slots at the Panamax locks was at 75 yesterday, compared to 33 that are waiting but do have slots booked, per ACP data.
Upcoming maintenance may slow transits
The ACP also said that from 22 August to 1 September, the sidewall culvert on the west lane of the Gatun locks will be out of service for maintenance.
"Although the west lane will remain available, the lockage will require additional time," said the ACP.
