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The Panama Canal Authority is raising the maximum authorized draft for Neopanamax locks to 49 feet and adding a daily transit slot after rainfall eased months of drought-driven restrictions.
The Panama Canal Authority has delayed a scheduled reduction in the maximum draft for Neopanamax Locks for the second time in weeks, citing water levels and a strengthening El Niño.
South Korean shipper SK Gas paid a record $5.3 million in a Panama Canal Authority auction to secure a September 1 transit slot for its LPG tanker G. Spirit, breaking a record set just two weeks earlier.
