# Panama Canal says goodbye to drought -

> The Panama Canal has ended its long drought period and now allows Neopanamax ships its maximum draft of 50 feet. This is the first time in 20 months that the canal has reached that depth, reached in June 2020 and increased gradually since. Deeper drafts let ships carry more cargo, with each foot of depth accounting for about 330 containers.

- Date: 2020-09-28 · published 2020-09-28T12:00:00.000Z
- Category: logistics · region Panama · magnitude low
- Page: https://feedsoft.ai/events/51025-panama-canal-says-goodbye-to-drought
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Full draft restores a more efficient route for grain and other bulk cargo through the canal, which can lower freight costs for US Gulf exports to Asia.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- panamaadvisoryinternationalgroup.com: https://panamaadvisoryinternationalgroup.com/blog/panama-canal-says-goodbye-drought/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.