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May 16, 2018

Panama Canal increases daily neopanamax vessel reservations

The Panama Canal Authority (ACP) announced that it has added an additional reservation slot to its neopanamax locks, effective today, bringing the total available booking slots to eight daily.

The decision to offer additional capacity to shippers was made as a part of the Canal's planning and analysis to meet the increased demand at the interoceanic route, inaugurated nearly two years ago.

The Panama Canal has seen steady adoption of the route, recording year on year growth, both in terms of the number of vessels it has welcomed and volume of cargo transited. For example, thus far in fiscal year 2018 (FY18), which began on October 1, 2017, the Expanded Canal has transited 1,183 Neopanamax vessels including containerships, liquefied petroleum gas, liquefied natural gas, dry bulk and more - a 39 percent increase in cumulative transits year on year.

The added slot allows shippers greater flexibility and options for booking their desired transit dates. The increase was made possible as a result of the efficiencies gained by the Panama Canal's continued investment into its operations and resources, and due to the ongoing excellence and experience of its employees.

Source: ACP