Sailors SocietyPort of StocktonCimbriaVan AalstViganTelestack
  • Cimbria
  • Port of South Louisiana
  • TMS Awards 2023
  • Bühler GmbH
  • Vigan
  • Sailors Society

Panama Canal extends pandemic relief

Panama Canal extends pandemic relief

(Posted on 28/08/20)

As the COVID-19 pandemic continues to impact the global economy, the Panama Canal will extend its temporary relief measures to 31 December, 2020, offering further support for the industry's recovery.

This extension comes after continued dialogue between the Canal and industry leaders on how to best provide relief as the world looks to recover from the economic and social impact of COVID-19.

"Despite the challenges faced earlier this year, I am confident we will see a steady recovery going into our 2021 Fiscal Year for both the Canal and its customers," said Panama Canal Administrator Ricaurte Vásquez Morales. The waterway's fiscal year will end on September 30, 2020.

Implemented on May 4 and originally set to run until September 1, the relief measures include the suspension of advance payments for transit reservation fees and other changes to the waterway's reservation system. Together, they allow customers to maintain higher liquidity, as well as added flexibility for swapping or substituting booking slots among their own fleets.

"I am encouraged by the growth we are seeing for the container segment, though we are tracking changes in global trade flows vigilantly," said Deputy Administrator Ilya Espino de Marotta. "The extension of these measures underscores our commitment first and foremost to our customers."

Transits at the Panama Canal climbed from 845 in June to 933 in July, and August is showing a similar trend. The increase was largely driven by a surge in containership transits along the U.S. East Coast to Asia route.

The extension of the relief measures comes on the heels of the Canal's commitment to make the investments in order to secure a sustainable, long-term solution to water levels, furthering the waterway's operational reliability in the years to come.
The Panama Canal Authority is an autonomous legal entity of the Republic of Panama in charge of the operation, administration, management, preservation, maintenance, and modernization of the Panama Canal, as well as its activities and related services, so that the Canal may operate in a safe, continuous, efficient manner.

Latest News

Teesport Offshore Gateway - a multi-million pound investment in the River Tees

(Posted on 29/04/25)

One of the UK’s major port groups, PD Ports has announced its ambition to develop one of the UK... Read more


Port of Amsterdam achieves CO? reduction target

(Posted on 28/04/25)

Port of Amsterdam has achieved its CO? reduction target. The Port of Amsterdam aimed to reduce its corporate... Read more


NSBT celebrates launch of new third berth in Freetown

(Posted on 22/04/25)

Nectar Sierra Leone Bulk Terminal (NSBT) is celebrating the operational launch of a new third berth... Read more


Greenhouse gas emissions in port of Rotterdam down by 8%

(Posted on 17/04/25)

Greenhouse gas emissions at companies in the port decreased by 1.7 Mton (8%) in 2024 compared to 2023... Read more


Raw materials delivered to British Steel through Immingham

(Posted on 15/04/25)

Following the UK government’s passing of an emergency law to take control of British Steel, vital... Read more


Rotterdam takes important step in making shipping more sustainable

(Posted on 15/04/25)

Trammo, OCI and James Fisher Fendercare have successfully conducted an ammonia bunkering pilot between... Read more


Bulgarian port’s first order for new Konecranes Gottwald MHCs

(Posted on 03/04/25)

BMF Port Burgas AD (BMF), one of Bulgaria’s largest port operators, has ordered two Generation... Read more


Another year of record revenue and profit for AD Ports

(Posted on 03/04/25)

Abu Dhabi based AD Ports Group a leading global enabler of trade, transport, industry, and logistics... Read more


Euroports secures long-term future in Venice with 25-year deal

(Posted on 31/03/25)

Euroports has announced the renewal of the concession for Terminal Rinfuse Venezia (TRV) at Porto Marghera... Read more


Panama Canal promotes sustainable maritime shipping with NetZero Slot

(Posted on 27/03/25)

Contributing to the commitment of achieving net zero emissions by 2050, the Panama Canal authority has... Read more


Geneva DryBühler GmbHTMS Awards 2023Port of South LouisianaTBA Group
  • Telestack
  • Port of Stockton
  • Geneva Dry

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping