Vessel wait time at Panama Canal increased 40pc in August

The average wait time for non-booked vessels at the Panama Canal jumped by between 44 per cent and 59 per cent last month as a prolonged drought led to restrictions on daily transits and ship drafts, reports Reuters.
The Panama Canal Authority began imposing the restrictions earlier this year in a move to conserve water. Only 32 vessels with a draft of up to 44 feet are now allowed to pass everyday, from 36 ships and maximum draft of 50 feet in normal conditions.
The limitations have led to bottlenecks at both ends of the canal, pushed up freight tariffs and forced some vessels to divert to avoid delivery delays, especially those that do not have priority to pass.
Waiting time averaged 8.85 days for southbound transit and 9.44 days for northbound passage in August, from 5.56 days and 6.55 days, respectively, in July, according to data from the Panama Canal Authority.
The waiting time was longer for general cargo vessels, dry bulk carriers and tankers transporting liquefied petroleum gas. Container ships, passenger vessels, refrigerated cargo vessels and vehicle carriers were less affected, the data showed.