NEWSLETTER
www.lethagencies.com
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS June 2025Issue 008
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
Welcome to this month’s update from LETH! As the maritime industry navigates new challenges, we’re here to keep you informed on
the latest developments and updates.
Featured This Month:
•Suez Canal Fixed Rebate•Middle East Update•Leth Projects•Panama Canal Updates
In May 2025, securing a Panama Canal transit slot remained generally manageable, as demand stayed low across all segments. The Canal
operated near full capacity, averaging 32.3 transits per day out of a maximum of 36.
From 27 to 31 May, maintenance at the Panamax locks temporarily reduced slot availability from 20 to 13 for Supers and from 6 to 3 for
Regulars. This brought average daily transits down to 25 vessels. Despite the reduction, early June bookings were largely unaffected, with
ample availability in the 1st & 2nd booking period, indicating sustained low demand.
Most slots in the Panamax-Super category were secured during the 1st and 2nd booking periods, with ample availability allowing clients
greater flexibility to monitor vessel ETAs before committing. Demand in this segment remained generally stable, though a slight decline was
observed, likely reflecting broader market conditions. Bidding levels typically stayed near the starting price of USD 55,000 for Supers.
Approximately 53% of auctions in this segment were sold, while the remaining slots were offered without any bidders.
The Regular segment also showed a modest decline in demand compared to April, despite limited daily availability. In the third booking
period (auction), about 50% of Regular slots were sold, with the rest offered without any bidders. Bidding levels generally remained close to
the starting price of USD 15,000.
The Neo-Panamax segment experienced a similar dip in demand. Bidding levels generally remained close to the starting price of USD
100,000, with only around 28% of auctions sold and the remaining slots offered without any bidders.
PANAMA CANAL
Disclaimer: The information in these graph/stats is derived from observed data and may not be entirely accurate. Pls consider it as general reference.
Panamax Segment Distribution Neo-Panamax Segment Distribution
Regular Segment Distribution
LETH - more than Suez Canal transits
Did you know LETH offer services beyond Suez Canal transits? Our team
consists of experienced maritime professionals; our Commercial
Director, Christian Hellerud, being one of these! Christian has extensive
experience from the world of shipbroking, agency, stores and project
coordination.
Christian's unique experience and network has played a key role in LETH
assisting our clients in areas beyond the Suez Canal. This far in 2025 he has
been involved in the coordination of two semi-submersible heavy lift
loading and voyage operations. In January, semi-submersible loading
operations onto “Seaway Albatross” took place in Naples, Italy.
In May, we assisted the “GPO Sapphire” loading a floating dock in
Rotterdam bound for Turkey. Both projects were facilitated with the
assistance of LETH’s partners in ISS Italy, ISS Turkey and ISS-Palumbo.
Reach out to Christian if you have any questions about how we can assist you in any matter concerning your
maritime operations – even beyond Suez Canal transits!
Email:
[email protected] / Tel: +47 23 11 55 00
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS
MaltaPanama Spain GibraltarDenmarkEgypt Singapore Turkey
LETH NEWSLETTER JUNE 2025
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
EGYPT
Suez Canal Authority has announced the extension of 12 fixed rebate circulars, which will remain valid until 31 Dec 2025 (with the last permissible
sailing date from the origin port set as 31 Dec 2025). Illustrations of the rebate circulars can be found here .
Click here for a complete overview of all circulars
Fixed Rebate 2025
Circular 5/1996
Circular 2/2017
Circular 3/2018
Circular 2/2021
Circular 9/2023
Circular 1/2018 Circular 7/2017
Circular 10/2023
Circular 2/2023 Circular 4/2020
Circular 3/2023
Dry Bulk Tankers Containership
Vehicle Carriers
LPG/LNG
Circular 2/2016
Source: Lloyds AIS, Observed Data
Suez Canal Per WeekTotalNorthboundSouthbound
Crude
Tanker
Product
Tanker
Dry BulkContainerLPG LNGChemicals
RoRo/
Vehicle
Carrier
Gen Cargo/
MPP
Other
Weekly Average Q2 25
(to date)
238.44116.67 121.78 64.00 3.33 59.4435.56 6.223.89 21.56 6.11 19.11 19.22
Weekly Average Q1 25
(Week 1-18)
+6.4 -1.6 +8.1 +8.2 +0.7 -1.2 -2.7 0.2+0.4 -1.7 +0.5 -0.2+2.1
Average Weekly Suez Canal Transits: Week 1-22/2025
MIDDLE EAST UPDATE
Update from our analyst at Guardian
In Guardian, our Risk Advisory team closely monitors the Middle East developments to aid our clients with insights and operational
recommendations. On 06 May, mediator Oman announced that the US and Yemen’s Houthi rebels had agreed on a ceasefire to ensure “freedom of
navigation”. The ceasefire came after three days of US airstrikes on Hodeidah and Sana’a governorates that injured dozens of people. With the
maritime security situation remaining stable for the time being, ship transits through the Bab el-Mandeb Strait are expected to increase, and are
already up in 2025 compared to the previous year. The US is suspected of continuing its airstrikes in Yemen, but against Al-Qaeda militants in the
Abyan governorate.
While discussions of a US-Iran nuclear agreement have continued in May, progress has been limited. While both the US and Iran express a willingness
to continue negotiations, fundamental disagreements over uranium enrichment and sanctions relief remain unresolved. A sixth round of discussions
is expected to take place in June, but without significant concessions from either side, the prospect of a comprehensive agreement remains
uncertain.
With the US ceasefire, the Houthis have turned their attention towards Israel. Several ballistic missiles have been launched from Yemen against Ben
Gurion Airport near Tel Aviv. There have been no reports of successful attacks since 04 May, when a missile injured six people and caused disruptions
and cancellations to the air traffic. In retaliation, Israel has attacked the Amran Cement Factory, Haziz, Dhabhan, and Asr power stations, Ras Isa,
Hodeidah, and Salif ports, and most notably, Sana’a Airport. On 06 May, Israeli airstrikes killed at least three people and injured 38 others. The airport
remained inoperable for the following week.