Panama Canal Neopanamax Draft Falls to 48 Feet as Fifth Water-Conservation Cut Takes Effect

The Panama Canal Authority's reduction of the maximum Neopanamax draft to 48 feet (14.63 m) took effect Aug. 26, 2026 — the fourth cut since July and the fifth since the water-conservation program began in December 2025. A further reduction to 47.5 feet is scheduled for Sep. 3. The Authority said the adjustment reflects ongoing technical monitoring and forecasts of the El Niño phenomenon's potential impact on Gatun Lake levels, and that daily vessel transit numbers would not be reduced for now.