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The Liberian MSC UNITED VIII container ship transits in the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama March 10, 2023. The Panama Canal Authority last week opened two additional slots per day for vessels without booking to transit to help clear bottlenecks on both sides of the interoceanic corridor. As of Tuesday, 125 booked and non-booked vessels were waiting to pass, down from more than 160 ships two weeks ago, according to official numbers. However, the average wait time for vessels to pass has risen to between 10 and 11 days this month, from 6-7 days last month. The waiting surpasses 17 days for cargo vessels and liquefied petroleum gas carriers, and is almost 13 days for tankers.

Persons: Aris Martinez, Gustavo Petro, Andres Manuel Lopez Obrador, Abe Eshkenazi, Elida Moreno, Marianna Parraga, Marguerita Choy Organizations: Liberian MSC UNITED, REUTERS, PANAMA CITY, Panama Canal Authority, Reuters, Tuesday, Panama, U.S, U.S ., Association for Supply Chain Management, Thomson Locations: Cocoli, Panama, Panama City, PANAMA, Asia, South America, Europe, China, U.S . West Coast, Chicago, Houston

[1/2] Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. The Panama Canal Authority has reduced maximum ship weights and daily ship crossings in a bid to conserve water. Container ships are the most common users of the Panama Canal and transport more than 40% of consumer goods traded between Northeast Asia and the U.S. East Coast. Some shipping executives are bracing for more reductions later this year, noting that in 2020 a less severe drought prompted canal operators to reduce crossings to 27 per day. "The Panama Canal is just the latest example."

Persons: Aris Martinez, Max, Drew Lerner, Peter Sand, Steve Ferreira, STRI's Steven Paton, Paton, Brian Bourke, Lisa Baertlein, Marianna Parraga, Elida Moreno, Louise Breusch Rasmussen, Deepa Babington Organizations: Monrovia NSU CHALLENGER, REUTERS, ANGELES, Evergreen Marine, Pacific, Panama Canal Authority, Northeast, U.S ., Smithsonian Tropical Research, El Nino, Central American, Canal Authority, SEKO Logistics, Thomson Locations: Cocoli, Panama, Panama City, HOUSTON, China, U.S, Northeast Asia, U.S . East Coast . U.S, United States, Chile, Brazil, Suez, Gatun Lake, El, U.S . East Coast, Los Angeles, Houston, Copenhagen

Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. The Panama Canal is important for moving consumer goods from Asia to the United States, especially ahead of peak selling seasons like Christmas. The Canal also is maintaining a suspension of extraordinary auctions for transit slots in both locks through Sep. 2. "Demand remains high, which proves that the Panama Canal is still competitive in most segments, even with measures taken to save water," the authority added. The Panama Canal has a 40%-market share of containers moving from Northeast Asia to the U.S. East Coast.

Persons: Aris Martinez, Elida Moreno, Marianna Parraga, Gary McWilliams, Grant McCool Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Panama Canal Authority, Canal Authority, U.S ., Thomson Locations: Cocoli, Panama, Panama City, PANAMA, Asia, United States, South, Pacific Coast, Northeast Asia, U.S . East Coast

Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. REUTERS/Aris Martinez/File PhotoPANAMA CITY, Aug 10 (Reuters) - The drought-hit Panama Canal has temporarily limited the number of new reserved passage slots to help ease a bottleneck of ships that are waiting to transit without reservations, the waterway's authority said on Thursday. The canal, however, in June postponed further restrictions that would have required ships to lighten their loads to more easily pass. The bottleneck of vessels waiting to pass, however, has grown, prompting logistics and supply chain experts to predict more disruptions. Still, the bottleneck will not fall as hard on shippers as pandemic-era mishaps, including the Suez Canal blockage in 2021, according to shipping firms and customers.

Persons: Aris Martinez, Ricaurte Vasquez, Anatol Feygin, Rolf Habben Jansen, Lloyd, Elida Moreno, Marianna Parraga, Lisa Baertlein, Marguerita Choy Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Reuters, El, El Nino, Walmart, Cheniere Energy, Thomson Locations: Cocoli, Panama, Panama City, China, El, Suez

☆ Panama Canal seen losing $200 mln next year as ship crossings dip
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. Specifically, between 30 and 32 ships are expected to cross daily during the new fiscal year which starts in October, said canal administrator Ricaurte Vasquez at an event. That compares to the 36 to 38 ships that transit the waterway when it operates at full capacity. The $200 million cut would reduce the canal's revenues for the 2023-2024 fiscal year to $4.9 billion. Panama typically sees heavy rains in July, and the canal authority has called the lack of precipitation "historically unprecedented."

Persons: Aris Martinez, Ricaurte Vasquez, Elida Moreno, David Alire Garcia Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Thomson Locations: Cocoli, Panama, Panama City

☆ Drought-hit Panama Canal further restricts maximum ship depth
▼ + stars: | 2023-06-22 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

[1/2] Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. REUTERS/Aris Martinez/File PhotoPANAMA CITY, June 21 (Reuters) - The Panama Canal will expand restrictions on the largest ships crossing the waterway, one of the world's busiest trade passages, the canal authority's administrator said on Wednesday, citing shallower waters due to drought. Ship traffic, including container ships and oil tankers, using the canal between the Atlantic Ocean and Pacific Ocean accounts for about 3.5% of global trade. Despite the new rules limiting ships' weight, Vasquez said the flow of ships through the canal has carried on as expected so far. The limits will not affect liquefied natural gas (LNG) carriers, as they typically report drafts of up to 37 feet, according to the canal authority.

Persons: Aris Martinez, Ricaurte Vasquez, Vasquez, Eli Moreno, Kylie Madry, Sonali Paul Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Central, Reuters, Port, El Nino, Thomson Locations: Cocoli, Panama, Panama City, Central American, El

☆ Panama not willing to expand First Quantum's copper mine operations
▼ + stars: | 2023-01-26 | by ( Valentine Hilaire | ) www.reuters.com time to read: +3 min

MEXICO CITY (Reuters) - Panama will not allow Canada’s First Quantum to expand the area of its existing copper mining operations, the deputy environment minister told Reuters, stressing the government’s opposition to the firm’s request to use more land. FILE PHOTO: A general view of Cobre Panama mine owned by Canada’s First Quantum Minerals in Donoso, Panama December 6, 2022. Panama’s environmental ministry said that, from the $375 million it was requesting First Quantum pay each year, it aimed to use some $11 million on environmental protection around the mine. The government is reviewing requests for mining concessions in the area from other companies, such as Broadway Strategic Minerals Panama and Exploraciones Geologicas. Asked about those requests for concessions, Laguna said the Cobre Panama mine itself was already large enough and authorities needed to concentrate now on mitigating its environmental impact.

☆ Clock not yet ticking for First Quantum to halt Panama mine -minister
▼ + stars: | 2023-01-11 | by ( Valentine Hilaire | ) www.reuters.com time to read: +2 min

FILE PHOTO: A general view of Minera Panama owned by Canada's First Quantum Minerals in Donoso, Panama December 6, 2022. But the company must still make a $375 million payment to the government for its 2022 operations, even when it was operating without a contract, Minister Federico Alfaro told Reuters. The company has until this Friday to appeal the order, said Alfaro, who has been leading negotiations with First Quantum. Contract termination terms are among the sticking points to reach an agreement, the minister said. The government hopes to reach a deal with the firm via regular meetings with First Quantum representatives, said Alfaro.

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