Shipping and chokepoints
Panama Canal restrictions: current draft limits and transit slots
The Panama Canal raised its Neopanamax draft to 49 feet and offers 33 daily slots from Oct 15, 2026. What remains restricted and what El Nino could change.
Guide
Shipping and chokepointsLast updated
3 minute read
By Zed Three analysts
Short answer
As of Nov 2, 2026, the Panama Canal allows a maximum draft of 49.0 feet in the Neopanamax locks and 39.5 feet in the Panamax locks, with 33 daily transit slots from Oct 15. The canal still says the water deficit continues, so a booking is the only way to guarantee a transit date.
Last updated
Why the canal restricts traffic
The locks run on fresh water from Gatun Lake. When rainfall is low, the Panama Canal Authority cuts the number of daily transits and the depth ships can load to, to protect lake levels. In the 2023 and 2024 drought, daily transits fell from about 36 to the low 20s.
What changed in autumn 2026
Close to average rainfall let the authority raise the Neopanamax draft from 48 feet to 49 feet and add a tenth daily Neopanamax slot from Oct 15. Gatun Lake stood at 87.0 feet on Nov 2. A cut to 47.5 feet planned for Oct 1 was postponed.
What to watch next
A developing El Nino can bring drier conditions to Panama, and the dry season starts around December, so early 2027 is the period to stress test. Shippers on US East Coast and Asia lanes should keep alternatives via Suez or US West Coast ports in their plans.
What happens next?
We assess it is likely that current draft limits hold through December.
We assess it is a realistic possibility that the canal tightens draft or slot limits again before the end of April 2027.
Likelihood ranges are Zed Three editorial judgments as of Nov 2, 2026, not advice.
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Frequently asked questions
How many ships can transit the Panama Canal per day?
From Oct 15, 2026, the canal offers 33 daily booking slots, 10 in the Neopanamax locks and 23 in the Panamax locks.
What is the maximum draft in the Panama Canal now?
49.0 feet (14.94 meters) in the Neopanamax locks and 39.5 feet in the Panamax locks, as of Nov 2, 2026.
Do ships need a reservation?
The canal says a booking is the only way to guarantee a transit date while the water deficit continues; unbooked ships may face indefinite delays.
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