The Panama Canal Authority (ACP) will cut the maximum authorized draft in the Neopanamax Locks twice more this month, the fourth and fifth reductions of 2026, as forecasters warn of a record-strength El Niño.
Effective August 26, the maximum authorized draft for Neopanamax Locks transits drops to 14.63 meters (48.0 feet) Tropical Fresh Water (TFW), followed by a further cut to 14.48 meters (47.5 feet) TFW on September 3 and until further notice, ACP said in Advisory to Shipping No. A-25-2026. TFW is the canal standard reference for measuring draft limits under Gatun Lake’s warm, fresh water, which provides less buoyancy than salt water — meaning it sets a conservative, worst-case benchmark for how deep a vessel can safely sit.
Vice President for Operations Boris Moreno Vásquez said the moves reflect current lake levels and hydrological projections, with no reduction in daily transit slots planned for now. Gatun Lake stood at just over 84 feet in early August, down nearly a foot since July, and ACP’s own forecast has it slipping to roughly 83 feet by September, according to reporting from The Maritime Executive.
The timing compounds an already strained system: Hormuz-related rerouting has pushed vessel traffic higher, and the booking dashboard showed 70 booked and 35 non-booked vessels awaiting transit, with waits running up to 11 days for Neopanamax vessels. ACP has also suspended the close-in transit slot auction.
IAM Member Impact: Members routing shipments through the Neopanamax Locks should build in buffer time now, particularly for Asia-U.S. Gulf/East Coast corridors already congested by Hormuz-driven diversions. During the 2023–2024 drought, similar restrictions led some carriers to lighten cargo or transship loads by rail across the isthmus — worth watching again if conditions worsen toward that period’s 43.5-foot low.
Source: Panama Canal Authority Advisory Maritime Executive