The Panama Canal informed EFE on Monday that there are 134 ships waiting to cross the road as a result of the measures adopted due to the drought that affects its basin, for which reason it has extended one of the reservation conditions to expedite transits.
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“At the moment there are a total of 134 vessels awaiting transit from both the Atlantic and Pacific entrances. For this month, the average waiting time for unreserved transits is between 9 and 11 days. We are continuously monitoring these figures and implementing measures to improve the flow,” the Panama Canal said.
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In this scenario, the Canal has “opted to extend reservation condition 3”, which “makes it possible to manage congestion and guarantee that ships en route or in line, which have not obtained reservations, can continue transiting continuously”.
“It should be noted that the transits through the Neopanamax locks”, the operational expansion since June 2016, “maintain their normal average of 10 per day, so these transits have not been impacted by the measure”added the Channel in a response sent to EFE.
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Since last July 30, the Panama Canal Administration (ACP) limited to 32 – out of a maximum of 38 – the number of ships that can transit daily through the 82-kilometer-long route, through which about 3% pass. of world trade.
This measure was implemented “until further notice” to prevent further reductions to the draft, or the depth in the water that the submerged portion of a vessel reaches, which is now at 44 feet (13.4 meters) from a maximum of 50 feet. (15.24 meters) offered by the route.
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The reduction of draft implies that ships must pass with less cargo, which impacts the toll rate charged by the Panama Canal, which connects 180 maritime routes that reach 1,920 ports in 170 countriesaccording to data from the ACP.
The low levels of the two artificial lakes that supply the canal with water are the cause of these operational decisions that are impacting the operation of the Canal and its expected revenues for fiscal year 2024, which will be decreased by around 200 million dollars, as already reported by the road administrator, Ricaurte Vásquez.
The Panama Canal reported last September that it projected income in 2023 for 4,652.9 million dollars, 10.3% more than the estimate for 2022, and a new record contribution to the treasury of 2,544.6 million dollars.
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The administration of the Canal maintained this Monday that The extension of the dry season in Panama this year beyond what is usual “is a natural phenomenon with global impact” and from which the interoceanic highway “is not excluded”.
The level of the artificial lakes that feed the Canal “was at its maximum capacity when the dry season began” at the end of last year and “what has happened is that the duration of the dry season has been prolonged a lot,” said Vásquez. in a meeting with journalists on August 3.
EFE
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