A joint declaration pertaining to security matters has been signed and agreed to by The Minister for Canal Affairs of Panama and the United States Secretary of Defense. This agreement reaffirms respect for, and the recognition of, Panamanian sovereignty over the interoceanic waterway, as well as...
As political and regulatory challenges emerge, there is growing uncertainty surrounding the status and date of the Panama port sale, initially reported in our previous newsletter. Whilst the sale of CK Hutchison's Ports was expected to proceed on "an expedited basis", with the Panama Ports Company...
After facing substantial challenges over recent years due to prolonged droughts which resulted in restrictions on vessel transits, funding has been approved for the development of the Rio Indio Lake Project within the Indio River Watershed. Considered to be one of the decade's most significant public...
Hong Kong based logistics organisation, CK Hutchison Holdings has announced plans to sell a majority stake in a business that controls two key ports in Panama to a consortium of US-investment firm BlackRock and MSC of Geneva in a deal worth almost $23bn. Whilst CK Hutchison...
The containership MSC Marie has broken a record at the Panama Canal, becoming the largest vessel by TEU capacity ever to transit the waterway. The MSC Marie is 366 metres long, 51 metres wide and has a maximum capacity of 17,640 TEU and its arrival not only highlights...
Improved water levels have seen The Panama Canal Authority announce the opening up of three more daily transit slots (as of March 2024) to accommodate growing demand. These additional slots will increase the daily quota to 27, representing a significant increase from the daily limit...
As a result of rains over the last quarter, the Panama Canal has revised its daily allowance to 24 vessels per day. At this point in time, the authorities of Panama Canal see no need for further vessel restrictions until at least April, when they...
With a swirling vortex of compounding factors from the Suez and Panama Canal and peak-season surcharges, to the Houthi of the Red Sea through to the general rate increases, there is no doubt that businesses across the globe are being hit with a whirlwind of...
Ongoing drought conditions at the Panama Canal continue to significantly hamper operational throughput on various fronts. This year saw 41% less rain than usual, resulting in unprecedented low levels across Gatun Lake, and with less than two months remaining until the completion of rainy season, this presents...
Due to ongoing drought and low water levels, authorities have announced that the Panama Canal has further reduced the maximum number of ships travelling the waterway to 31 per day, (down from a daily limit of 35 during normal conditions), as well decreasing the allowable...