Story perspectives

Canal Depth Cut Tightens Neopanamax Slots, CMA Surcharge Announced

8/14/2026

Summary

Story summary

The Singapore-flagged container ship Seaspan Benefactor paid about $4 million for a Panama Canal transit slot on August 12 2026.
Argus reported the average Neopanamax auction price rose to $2.5 million, a 16-fold increase from last year.
The Canal Authority has lowered draft limits twice since July and will reduce the Neopanamax depth to 48.5 feet on Saturday.
CMA CGM will add a $500 per TEU surcharge on Far-East to U.S. East-Coast cargo starting Sept 10.

History

Historical Context

After the United States opened the Panama Canal in August 1914, the Panama Canal Authority set tolls and draft limits that restricted ship size. By 2006 the Authority began a Transit Slot Auction, and the 2016 expansion added larger Neopanamax locks, raising capacity to about 600 million PC/UMS tons annually. The 2006 auction’s $220,300 winning bid shows how the canal still monetizes scarce draft.

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Story summary

The Singapore-flagged container ship Seaspan Benefactor paid about $4 million for a Panama Canal transit slot on August 12 2026.
Argus reported the average Neopanamax auction price rose to $2.5 million, a 16-fold increase from last year.
The Canal Authority has lowered draft limits twice since July and will reduce the Neopanamax depth to 48.5 feet on Saturday.
CMA CGM will add a $500 per TEU surcharge on Far-East to U.S. East-Coast cargo starting Sept 10.

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