PANAMA CITY — A Panamax container vessel loaded with consumer electronics ran aground on the shoals near the Pacific entrance of the Panama Canal, briefly blocking transit through the Agua Clara locks before salvage tugs refloated the vessel within six hours. The incident occurred during a period of historically low water levels in Gatun Lake, which supplies the canal’s lock system, with the maximum draft restricted to 11.5 meters — down from the standard 15.2 meters.
85 Vessels Stuck
The MV Pacific Sentinel was carrying 4,800 TEUs of electronics and was forced to lighter 600 containers onto barges before it could be refloated. Delays from the grounding and ongoing drought restrictions have created a backlog of at least 85 vessels waiting to transit in both directions. Shipping analysts estimate the bottleneck is adding between $600,000 and $1.2 million per day in additional costs per vessel delayed. The Canal Authority said it expects normal operations to resume within 48 hours after the backlog clears.
Historic Drought
Panama is experiencing its worst drought in 70 years, driven by the combined effects of the El Nino weather pattern and warming sea surface temperatures in the Pacific. Water levels in Gatun Lake are currently 1.8 meters below the historical June average. Several shipping lines have announced surcharges of up to $400 per TEU to cover the cost of lightering and delays. The Canal Authority has warned that if water levels continue to fall, further draft restrictions could be imposed, potentially forcing even more ships to lighten cargo.
Written by Admin, Media Hook