Bulker Panama Canal transits drop 22% amid higher competition for transit slots
“Since the start of July, Panama Canal bulker transits have fallen 22% y/y. Bulkers have faced increased competition for transit slots from other sectors, especially tankers, as the US has boosted energy exports to Asia. El Niño is also expected to lead to lower water levels, which mean transit restrictions and thus heightened competition for ...
Adm. Ossama Rabiee, Chairman and Managing Director of the Suez Canal Authority, declared that today's Suez Canal traffic witnessed the inaugural transit of the colossal container ship OOCL PORTUGAL on its journey from Belgium to China. This mega ship, belonging to COSCO SHIPPING Lines, measures roughly 400 meters in length, boasts a beam of 61.3 meters, and has a gross tonnage of 247 thousand tons. Its capacity includes up to 24 thousand TEUs.
The vessel is currently sailing under the maritime service NEU2, operated by Ocean Alliance, and is making its way along the primary trade route connecting Far East ports with North-West Europe. In compliance with the Suez Canal Authority's guidelines for first-time transiting ships, Adm. Rabiee appointed Capt. Saeed Imam, Chief Pilot, Capt. Mohamed Abdel Jalil, Chief Pilot, and Capt. Ahmed Etman, Chief Pilot, to meet and welcome the crew, presenting a commemorative gift to the vessel's master.
This milestone marks the first time a COSCO SHIPPING Lines vessel has traversed the Suez Canal southbound since the unrest in the Red Sea and Bab El-Mandab. Adm. Rabiee emphasized the special relevance of this voyage, noting it is the first COSCO SHIPPING Lines transit through the Canal in this direction since the tensions escalated.
The Suez Canal has successfully reinstated several maritime services provided by leading shipping lines, such as CMA CGM, Maersk, MSC, Hapag Lloyd, and COSCO. This accomplishment underscores the Canal's critical role as a vital link between Europe and Asia. Rabiee revealed that navigation reports have recorded a substantial increase in the tonnages of container ships transiting through the Canal, with net tonnages rising by 54.2% from January to August 2026, amounting to around 72.1 million tons. Comparatively, this is a significant jump from 46.7 million tons during the same period in 2025.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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