PANAMA FLASH! | Panama City – April 17th, 2026
Panama Canal Situation
Current Panama Canal traffic conditions remain under sustained pressure, with elevated vessel arrivals continuing to drive strong booking demand.
The Panamax locks continue to experience high demand, particularly in the southbound direction. Auction prices for transits from the Atlantic to the Pacific remain around USD 500,000, while northbound-exclusive auctions are holding near USD 300,000.
In the Neopanamax locks, a rise in southbound crude oil tanker traffic has led to a significant escalation in auction values, currently reaching levels of up to USD 1,000,000.
Please find attached our latest auction report for both Panamax and Neopanamax segments.
Booking availability at the Panamax locks under the First-Come, First-Served system remains fully allocated, with slots being secured upon the opening of Booking Period 1 (90 days prior to transit). Hight ranked customers will be favored with the slot.
Booking activity at the Neopanamax locks during Booking Period 1A (30 days prior to transit) shows a slight but continued decrease in the number of applications, suggesting a gradual easing in demand.
Tentative maintenance works in Panamax Locks
The Canal Authority has informed of a tentative lane outage to facilitate maintenance works during the following period:
Dates: June 9th – June 17th (9 days)
Location: Gatun East Lane
Booking Condition: Condition 2
Estimated Daily Capacity: 16 vessels in the Panamax locks
These maintenance works have not yet been formally confirmed by the Canal Authority; however, if implemented as indicated, overall Canal capacity will be reduced. Under such conditions, transit booking demand is expected to exceed the number of slots available.
The Transit Reservation System for the Panamax locks would be declared under Condition 2 (reduced booking availability). As a result, difficulties in obtaining booking slots are expected to increase due to the temporary reduction in transit capacity.
Please note: This maintenance will not affect operations at the Neopanamax Locks, which are expected to continue operating normally.
LOTSA 2.5 Sealed bid application
As a reminder, the LOTSA 2.5 sealed bid competition will be conducted on April 28th in the following sequence:
- FixContainer: 0800 – 0830 hrs
- FlexContainer: 0830 – 0900 hrs
- FixGas: 0900 – 0930 hrs
- FlexGas: 0930 – 1000 hrs
- FlexGas+: 1000 – 1030 hrs
- FlexSlot+: 1030 – 1100 hrs
Should you wish to participate in any of the above windows, please contact us in a timely manner so we can properly coordinate and submit your bid.
El Niño Conditions projection (Reduced Precipitation)
Projections indicate a high probability that Gatun Lake levels will remain above 85 feet (50-foot draft) for the remainder of 2026, supported by higher-than-normal rainfall from January through March (approximately 300 mm above average); however, the potential development of the El Niño phenomenon, typically associated with reduced precipitation could introduce drier conditions.
Projections for 2027 will depend on total rainfall accumulated during 2026 and on the water saving measures implemented throughout the year. Conditions are monitored and updated on a weekly basis to detect emerging trends toward drier scenarios.
For additional information, please reach out to our operators at operations@nortonlilly.com.pa.
Norton Lilly International (Panama) S.A.
Bldg. 3825 – Office 204
Howard – Panama-Pacifico
Panama, Rep. of Panama
Tel: (507) 304-4600
Main email: operations@nortonlilly.com.pa (24 hours)
