Hellenic Shipping: Panamax Tankers are Slowly Becoming Obsolete as Shipping Markets Evolve

05 Jan 2015: “According to a recent note from Poten & Partners, today, most Panamaxes are coated and capable of hauling refined products. “In its analysis, Poten noted that the size regulations set by the Panama Canal Authority for the standard size of a Panamax was 965 feet length overall (LOA), 106 feet width and 39.5 feet draft. However, these restrictions are about to change significantly due to the Panama Canal expansion project, which involves a new set of locks with new size regulations: 1,200 feet LOA, 161 feet width and 50 feet draft. Based on the new dimensions, fully-laden Aframaxes and even light-loaded Suezmax tankers will be able to traverse the Panama Canal. The expansion project is scheduled to be finished in early 2016.”