{"id":43183,"date":"2024-02-14T14:28:34","date_gmt":"2024-02-14T19:28:34","guid":{"rendered":"https:\/\/pancanal.com\/?p=43183"},"modified":"2024-03-14T08:46:32","modified_gmt":"2024-03-14T13:46:32","slug":"navigating-change-a-timeline-of-recent-future-progress-at-the-panama-canal","status":"publish","type":"post","link":"https:\/\/pancanal.com\/en\/navigating-change-a-timeline-of-recent-future-progress-at-the-panama-canal\/","title":{"rendered":"Navigating Change: A Timeline of Recent &#038; Future Progress at the Panama Canal"},"content":{"rendered":"<p>It\u2019s no secret that the accelerating implications of climate change have had economic, social and environmental impacts worldwide, including waterways such as the Panama Canal, the Rhine River, the Amazon and the Mississippi. Last year, drought limited the capacity of daily transits through the Canal to ensure both the best possible service for our customers and an adequate water supply for the Panamanian people.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-43184 size-large\" title=\"Navigating Change: A Timeline of Recent &amp; Future Progress at the Panama Canal\" src=\"https:\/\/pancanal.com\/wp-content\/uploads\/2024\/02\/canalconnection-febrero-2024-1-1024x764.jpg\" alt=\"\" width=\"840\" height=\"627\" srcset=\"https:\/\/pancanal.com\/wp-content\/uploads\/2024\/02\/canalconnection-febrero-2024-1-1024x764.jpg 1024w, https:\/\/pancanal.com\/wp-content\/uploads\/2024\/02\/canalconnection-febrero-2024-1-300x224.jpg 300w, https:\/\/pancanal.com\/wp-content\/uploads\/2024\/02\/canalconnection-febrero-2024-1-768x573.jpg 768w, https:\/\/pancanal.com\/wp-content\/uploads\/2024\/02\/canalconnection-febrero-2024-1.jpg 1073w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/p>\n<p>Now, as we reach the midway point of the dry season, the waterway sees a turning point, thanks in part to the actions of our operations team and our customers. As we reach this milestone, we wanted to pause and reflect on our journey these past months:<\/p>\n<ul>\n<li>October 3, 2023 \u2013 We observed that our Gatun reservoir received a daily inflow from rainfall and river flow amounting to seven million cubic meters (m\u00b3), less than half of the 15 million m\u00b3 expected in a typical year. With the combined outflows from Canal operations, evaporation, human consumption, and industry amounting to ten million m\u00b3, the waterway saw a <a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=9ee6350d9b&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=9ee6350d9b&amp;e=272a49c29e\" target=\"_blank\" rel=\"noopener\">daily deficit of three million m\u00b3.<\/a><\/li>\n<li>October 31, 2023 \u2013 We experienced our <a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=9e50ce5bcb&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=9e50ce5bcb&amp;e=272a49c29e\" target=\"_blank\" rel=\"noopener\">driest month<\/a> of October on record in 2023, with rainfall at 41 percent lower than usual. To safeguard operations, we announced that daily transits would be gradually reduced from 32 daily transits to 24 in November, 22 in December, 20 in January, and 18 in February. This step was taken on top of the various measures previously adopted to preserve water and ensure the safety of transit operations, from the use of water-saving basins in the Neopanamax locks to cross-filling in the Panamax locks.<\/li>\n<li>November 29, 2023 \u2013 To ensure all segments and shipping companies have options, we introduced <a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=51552aeb2d&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=51552aeb2d&amp;e=272a49c29e\" target=\"_blank\" rel=\"noopener\">modifications<\/a> that make special auctions more equitable and reflective of our market composition.<\/li>\n<li>December 15, 2023 \u2013 Due to extensive water-saving measures and a slight improvement in rainfall in November and December, we reached a turning point in water levels that allowed us to increase daily transits to 24 in mid-January, instead of reducing it, as previously planned.<\/li>\n<li>December 31, 2023 \u2013 The waterway recorded the transit of 2,534 vessels and 108 million tons of cargo between October and December 2023. Despite the challenges faced, we continued to honor and facilitate all reserved transits on schedule, which remains true to this day.<\/li>\n<li>January 16, 2024 \u2013 As announced the month prior, we began offering 24 transits a day, which will remain in effect until conditions warrant changes. Any adjustments, if necessary, will be communicated to the industry in advance.<\/li>\n<li>January 24, 2024 \u2013 With sustainability remaining a core priority and strategic driver of our operations moving forward, Deputy Administrator Ilya Espino de Marotta was named the Panama Canal\u2019s <a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=af2ab366b2&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=af2ab366b2&amp;e=272a49c29e\" target=\"_blank\" rel=\"noopener\">first Chief Sustainability Officer<\/a>. In this role, she will spearhead the development of a more comprehensive sustainability strategy focused on decarbonization, adaptation, and just transition.<\/li>\n<\/ul>\n<p><strong>The Road Ahead with Sustainability at the Center:<\/strong><\/p>\n<p>While sustainability is not new for the Canal, the accelerating implications of climate change require stronger action, as demonstrated by the Canal\u2019s recent announcement. Therefore, the waterway is pleased to begin a new, more ambitious era of sustainability. Looking ahead, we anticipate a series of important milestones:<\/p>\n<ul>\n<li>2024 \u2013 2025: We are currently collaborating with the World Bank and International Finance Corporation (IFC) to finalize the Panama Canal\u2019s Greenhouse Gas emissions inventory, which will be published within six months. Later this year, we will complete a climate risk assessment and commit to the Science Based Targets initiative (SBTi), encompassing both short and mid-term reduction goals. Aggressive emissions reduction targets will be implemented soon after.<\/li>\n<li>2024 \u2013 2030: We plan to embed sustainability into capital investments worth over $8.5 billion in the next five years, surpassing the $5.4 billion required by the Panama Canal Expansion Program. The largest portion ($3.5 billion) will go toward infrastructure and equipment, including the installation of a photovoltaic plant, the purchase of electric vehicles and hybrid tugs, and various other investments. More than $2 billion more will be dedicated to new sustainability-focused initiatives. The implementation of a more robust water management system is also expected to require an additional $2 billion investment. The remaining funds, amounting to more than a billion dollars, will support digital transformation and decarbonization-focused improvements at the waterway.<\/li>\n<li>2024 \u2013 2050: The Panama Canal aims to achieve net zero carbon emissions by 2050, in line with global goals. To meet this target, we will pursue meaningful action and engagement, working with the entire maritime value chain to create an enabling environment for climate resilient operations and development. By transforming our business, we are confident that we will enable our customers and employees to also transform, allowing all to overcome climate risk and succeed in a new climate economy.<\/li>\n<\/ul>\n<p><strong>Please refer to the following links for more information:\u00a0<\/strong><\/p>\n<ul>\n<li><a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=9c706b368f&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=9c706b368f&amp;e=272a49c29e\" target=\"_blank\" rel=\"noreferrer noopener\">Vessels in queue for transit<\/a><\/li>\n<li><a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=0d62cfde01&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=0d62cfde01&amp;e=272a49c29e\" target=\"_blank\" rel=\"noreferrer noopener\">Real-time Weather Radar Animation<\/a> (updated every 5 minutes)<\/li>\n<li><a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=1c16912e60&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=1c16912e60&amp;e=272a49c29e\" target=\"_blank\" rel=\"noreferrer noopener\">Daily average level of Alhajuela reservoir for the last 12 months<\/a><\/li>\n<li><a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=ddd13145a8&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=ddd13145a8&amp;e=272a49c29e\" target=\"_blank\" rel=\"noreferrer noopener\">Daily average level of Gatun Reservoir for the last 12 months<\/a><\/li>\n<li><a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=8070e0f42f&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=8070e0f42f&amp;e=272a49c29e\" target=\"_blank\" rel=\"noreferrer noopener\">Daily precipitation (rainfall) by sub-basins (Alhajuela\/Gatun) and cumulative in CHCP current year 2023<\/a><\/li>\n<li><a title=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=12af33060d&amp;e=272a49c29e\" contenteditable=\"false\" href=\"https:\/\/pancanal.us14.list-manage.com\/track\/click?u=77e00bbd80ba00c42c1e0da16&amp;id=12af33060d&amp;e=272a49c29e\" target=\"_blank\" rel=\"noopener\">Advisory to Shipping<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s no secret that the accelerating implications of climate change have had economic, social and environmental impacts worldwide, including waterways such as the Panama Canal, the Rhine River, the Amazon and the Mississippi. Last year, drought limited the capacity of daily transits through the Canal to ensure both the best possible service for our customers &hellip; <a href=\"https:\/\/pancanal.com\/en\/navigating-change-a-timeline-of-recent-future-progress-at-the-panama-canal\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Navigating Change: A Timeline of Recent &#038; Future Progress at the Panama Canal&#8221;<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":43179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_wp_rev_ctl_limit":""},"categories":[98],"tags":[99],"class_list":["post-43183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canal-connection-en","tag-canal-connection-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Navigating Change: A Timeline of Recent &amp; 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