The Panama Canal Authority will raise daily transits through the Neopanamax locks to 10 vessels from October 15, lifting total daily capacity across the Neopanamax and Panamax locks to 33.

The authority announced the increase in a shipping advisory, basing the decision on current and projected water levels in Gatun Lake. Near-average rainfall combined with water-saving measures also allowed it to raise the maximum authorised draft for Neopanamax vessels to 14.94 metres (49 feet), effective immediately until further notice.

"While the water deficit continues in the Canal watershed, the Transit Reservation (Booking) System remains the only way to guarantee a transit date. Vessels without a reservation may therefore face indefinite delays," the canal said. "The Canal remains committed to closely monitoring water conditions and rainfall levels and to communicating any further adjustments in a timely manner, as circumstances allow."

The loosening marks a turn after months of restrictions imposed as water levels fell sharply under the effects of the El Niño weather pattern. The conservation measures cut daily transit capacity and lowered allowable drafts, disrupting vessel schedules and driving up the cost of securing transit slots.

For carriers, the cost pressure has been concrete. Hapag-Lloyd said in mid-September that the restrictions had made it harder to secure transit slots and reduced cargo-carrying capacity on vessels subject to draft limits. The German carrier cited higher costs from priority auctions, surcharges and alternative routings, as well as bottlenecks causing delays across several trade lanes. It said it was working with the canal authority and local partners to secure slots while assessing recovery measures, alternative routes and network changes to limit disruption.

The strain on slot availability was underscored in August, when an LPG carrier paid a record US$5.3 million at auction for a single transit, according to shipping industry reports. Demand for the canal has grown as disruption to commercial traffic through the Strait of Hormuz has pushed shippers and operators toward alternative routes.

For shippers and forwarders, the extra three transits per day and the deeper 14.94-metre draft should gradually ease the auction premium that inflated freight costs on Asia–US East Coast and other canal-dependent lanes. Still, the authority's own language signals caution: with the watershed deficit unresolved and capacity still below historical norms, unbooked vessels face indefinite waits. Operators that locked in reserved slots early will keep the scheduling advantage until the authority confirms further increases grounded in Gatun Lake levels.