# Panama Canal reduces maximum authorized draft in Neopanamax locks

> The Panama Canal Authority cut the maximum authorized draft for Neopanamax locks to 13.41 meters (44 feet), effective April 30, the fifth reduction this year. The cut follows a serious drought that lowered water levels in two major tributary lakes.

- Date: 2019-05-01 · published 2019-05-01T12:00:00.000Z
- Category: logistics · region Panama · magnitude medium
- Page: https://feedsoft.ai/events/58989-panama-canal-reduces-maximum-authorized-draft-in-neopanamax-locks
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Each draft cut reduces cargo per vessel and raises per-ton shipping costs on routes through the canal, which tends to lift freight rates for U.S. and Asian grain and feed trade.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- spglobal.com: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/shipping/050119-panama-canal-reduces-maximum-authorized-draft-in-neopanamax-locks

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