Will the Panama Canal increase the number of sea freight container ships?

The Panama Canal Authority (ACP) announced on December 15th local time that, for the benefit of customers, the daily number of ships passing through the canal will be increased from the current 22 to 24 starting from January 16, 2024.

The Panama Canal Authority stated in the latest released Shipping Consultation that currently, there are 22 ships passing through the canal every day, including 6 new locks and 16 old locks. This restriction is to address the challenges posed by the current situation of Lake Garton. Due to the drought caused by the El Ni ñ o phenomenon, the water level in Lake Garton is unusually low at this time of year.

Considering that October 2023 is the driest month on record in the canal basin, and the previously anticipated situation in November and December may further deteriorate, the Panama Canal Authority has decided to adjust the daily number of crossing ships to 22 in December, 20 in January, and 18 in February.

The Panama Canal Authority pointed out that, however, due to the proven unfavorable rainfall and lake water levels in November, as well as the positive results of canal water-saving measures, the Panama Canal Authority announced an adjustment to replace the policy of October 30th. Starting from January 16, 2024, the daily number of ships passing through the canal will be increased to 24 and will remain in effect until further adjustments are made.