The Panama Canal is operating at top capacity, with a daily passage of between 36 and 38 vessels, the waterway’s chief Ricaurte Vasquez told reporters \u200bon Friday, adding that the war on Iran was boosting demand by \u200bowners and operators of liquefied natural gas tankers.<\/p>\n
Demand was particularly strong for \u2060those loading at U.S. ports, Vasquez added.<\/p>\n
Since the war started, many vessels have been \u200bstruggling to reach or have been avoiding the world’s largest waterway, the Suez Canal. The \u200bStrait of Hormuz, a crucial passage used to transport energy products from Kuwait, Qatar and Bahrain, has been closed.<\/p>\n
Panama is increasingly being seen as an alternative route, especially to distribute U.S. LNG to \u200bconsuming countries, Vasquez said.<\/p>\n
The Panama Canal – the world’s second-busiest waterway – was already experiencing \u200bincreased traffic of LNG vessels before the war started almost three weeks ago. It is now getting \u200cready \u2060to offer one slot per day for LNG tankers to transit the canal, a notable jump from a recent four per month, Vasquez said.<\/p>\n
“We have (enough) water now, so we are working at top capacity,” he said, referring to a previous drought that led \u200bthe freshwater canal \u200bto impose passage restrictions \u2060between 2023 and 2024.<\/p>\n
The increased demand is driving more daily transits than the average of 34 that had been forecast for \u200bthis fiscal year.<\/p>\n
The canal’s authority said earlier on Friday that a \u200bplanned maintenance \u2060program for March to September would not affect traffic through the waterway.<\/p>\n
“Cargoes must reach their destinations and the shortest route is still Panama, which has the capacity to accommodate \u2060additional transit,” \u200bVasquez said.<\/p>\n
The canal typically sees decreased seasonal demand \u200bfrom container ships from Asia in the January-March period, which allows it to offer more slots to tankers \u200bcarrying energy products, he added.<\/p>\n
By Elida Moreno and Marianna Parraga, for Reuters<\/strong><\/a><\/p>\n