The Panama Canal Increasing Daily Transits in mid-May, June
The Panama Canal Authority put out a press release to explain the increase in daily transits through the Canal in the coming weeks.
Here’s what we know:
— The Gatun Locks will receive some maintenance work from May 7th through the 15th. This will result in a temporary reduction in daily transits at the Panamax locks from 20 to 17.
— Starting May 16th, the Canal will raise their total number of daily transits from 24 to 32.
— The maximum permitted draft for vessels that transit the Neopanamax locks will see a boost (45 feet) which is up from the current limit (44 feet).
Port of Portland’s Container Business Ending in October
The Port of Portland will suspend their container operations in October this year. The port lists an increase in financial losses, lack of state funding and the failure to find a permanent third-party operator search as reasons for the ending of their container operations.
This isn’t ideal news for agricultural and seafood industries that use the port. With these container operations ending, those shippers will have to truck goods through other ports, which will increase costs.
In a statement, the port says they will continue to handle their Ro/Ro car and vehicle operations, break bulk and heavy cargo. They will continue to search for future alternatives, but in the meantime they do not have the necessary funding to maintain container operations.
They also mention how the port lost more than $30 million from the container operations in the last three years, despite seeing volumes steadily increasing.