NEWSLETTER
www.lethagencies.com
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS Aug 2025Issue 010
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:
•Panama Canal Update•LETH Panama•Middle East Update•Suez Canal Update
On 29 July 2025, the Suez Canal Authority (SCA) issued Navigation
Circular No. 16/2025, confirming the renewal of Circular No. 3/2025. This
circular continues to grant a 15% rebate on canal tolls for containerships
with Suez Canal Net Tonnage of 130,000 tons or above, whether in
ballast or laden condition. This incentive remains in effect until 31
December 2025. To qualify, vessels must transit the Suez Canal on or
before 31 December 2025.
The Suez Canal Authority (SCA) has announced the suspension of the
10% rebate previously granted under Circular 5/1996 for vessels carrying
wheat southbound to Aqaba via the Suez Canal, as well as for their
northbound ballast return transits. This suspension will take effect for
vessels transiting the canal from 31 August 2025 onwards. For full
details, please refer to Periodical 15/2025.
Renewal of Rebate for Large Containerships
Suspension of 10% Rebate for Aqaba Wheat Cargoes
EGYPT
Average Weekly Suez Canal Transits: Week 1-31/2025
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 Q3 25
(Week 27-31)
236.40120.20 116.20 63.80 2.80 59.0033.60 6.807.20 22.40 6.20 19.20 15.40
Weekly Average Q2 25
(Week 14-26)
-0.4 +1.0 -1.5 -0.8 -0.2 +1.2 -1.7+0.9+3.6 +0.2 +0.0 +0.1 -3.8
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. In early July, two commercial vessels were attacked by
the Houthis in the Red Sea. The first vessel was struck by drones, missiles,
and RPGs, forcing the crew to abandon the ship, which ultimately sank, and
left six crew members to reportedly be taken hostage. The second vessel
was similarly attacked, resulting in the fatality of four crew members and
the kidnapping of several others. In retaliation, 20 Israeli jets struck Houthi
port infrastructure, which was the first Israeli assault on Yemen since May.
Later, on 27 July, the Houthis announced the previous attacks to be part of
a new phase in their campaign, “phase four”, targeting any commercial
vessel linked, directly or indirectly, to Israel, regardless of flag or origin
While the ceasefire between Iran and Israel remains intact, the regional
security environment is still fragile. The US Navy has reportedly
intercepted Iranian missiles aimed at Israel, and maintains a presence in
both the Red Sea and Persian Gulf. Cyber threats and GPS jamming are
ongoing, with Iranian-affiliated groups actively targeting maritime logistics
systems, port infrastructure, and regional energy networks. These
disruptions have contributed to the sustained instability surrounding the
Strait of Hormuz.
We are excited to share that we are now operating fully in-house for
all Panama Canal-related operations. This marks an exciting step
forward as we continue to strengthen and streamline our global
transit services. With Panama Canal operations now fully managed
in-house, we are well-positioned to deliver enhanced coordination,
greater transparency, and even more responsive client support.
You can continue to expect the same high standard of service, with
reliable support delivered seamlessly through our established
presence in Panama. With offices strategically located in Panama,
Denmark, Norway, Singapore, and Dubai, we are able to provide true
24/7 global support, ensuring smooth communication and fast
response times across all time zones.
Contact us at
[email protected] to learn more about how
we can support your transit through Panama Canal.
LETH Panama
Your Dedicated Transit Partner in the Canal YOUR PREFERRED AGENT IN MARITIME HOTSPOTS
MaltaPanama Spain GibraltarDenmarkEgypt Singapore Turkey
LETH NEWSLETTER Aug 2025
July started out with strong demand for Super and Regular slot bookings due to the scheduled maintenance on the East Lane of the Gatun
Locks from 1 to 4 July. During this period, available Panamax slots were reduced from 26 to 16 per day, leading to limited capacity across
both segments. As a result, most First Come First Served (FCFS) slots were taken through 8 July, prompting increased auction activity and
elevated bid levels. Slot availability for Super vessels began to normalize from Mid July onward. The Canal operated near full capacity,
averaging 31.5 transits per day out of a maximum of 36.
In the Regular segment, demand saw a modest decline from June despite limited daily availability. In the third booking period (auction),
about 29% 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.
Looking ahead to August, slots for Supers and Regulars remain widely available. However, Northbound Neo-Panamax slots in Period 3
continues to see strong demand due to limited availability. We highly encourage early planning for your Panama Canal transits, and our team
is ready to provide the necessary guidance and support.
For Panamax-Super vessels, most slots were secured during the 1st and 2nd booking periods, allowing clients flexibility to monitor ETAs
before committing. Demand was slightly higher compared to June. Bidding levels surged in early July but stabilized closer to the starting
price of USD 55,000 once conditions normalized. Around 53% of auctions in this segment were sold, with the remaining slots offered without
any bidders.
The Neo-Panamax segment saw a gradual pickup in demand. Bidding levels for Southbound transits generally hovered close to the starting
price of USD 100,000. In contrast, Northbound transits saw much higher levels of auction activity, with winning bids reaching higher than half
a million dollars. Overall, around 57% of auctions sold and the remaining slots offered without any bidders.
PANAMA
Segment Distributions
Disclaimer: The information in these graph/stats is derived from observed data and may not be entirely accurate. Pls consider it as general reference.
Super Neo-Panamax Regular
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
Navigating August: A Look Ahead at the Panama Canal
According to Advisories to Shipping No. 22-25 issued by the Panama Canal
Authority (ACP), the scheduled outage at Gatun Locks from 19 to 21 August
2025 has been cancelled. This outage was initially expected to reduce
Panamax Locks capacity to 16 vessels per day, but with its cancellation, the
daily transit capacity has been restored to 26 vessels per day for those
dates. The maintenance will be rescheduled and announced in due course.
We anticipate a potential increase in demand during this period, similar to
trends observed in July. Please take this into consideration and plan your
transits well in advance to secure your preferred slots.
Separately, a tentative maintenance is planned for the Panamax (old)
locks from 1 to 10 September 2025, during which the transit capacity will
again be reduced from 26 to 16 vessels per day. This may significantly
affect slot availability before and during the maintenance window. The ACP
will provide further confirmation as the date approaches.
Advisory Updates – Maintenance
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS
MaltaPanama Spain GibraltarDenmarkEgypt Singapore Turkey
LETH NEWSLETTER Aug 2025
July started out with strong demand for Super and Regular slot bookings due to the scheduled maintenance on the East Lane of the Gatun
Locks from 1 to 4 July. During this period, available Panamax slots were reduced from 26 to 16 per day, leading to limited capacity across
both segments. As a result, most First Come First Served (FCFS) slots were taken through 8 July, prompting increased auction activity and
elevated bid levels. Slot availability for Super vessels began to normalize from Mid July onward. The Canal operated near full capacity,
averaging 31.5 transits per day out of a maximum of 36.
In the Regular segment, demand saw a modest decline from June despite limited daily availability. In the third booking period (auction),
about 29% 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.
Looking ahead to August, slots for Supers and Regulars remain widely available. However, Northbound Neo-Panamax slots in Period 3
continues to see strong demand due to limited availability. We highly encourage early planning for your Panama Canal transits, and our team
is ready to provide the necessary guidance and support.
For Panamax-Super vessels, most slots were secured during the 1st and 2nd booking periods, allowing clients flexibility to monitor ETAs
before committing. Demand was slightly higher compared to June. Bidding levels surged in early July but stabilized closer to the starting
price of USD 55,000 once conditions normalized. Around 53% of auctions in this segment were sold, with the remaining slots offered without
any bidders.
The Neo-Panamax segment saw a gradual pickup in demand. Bidding levels for Southbound transits generally hovered close to the starting
price of USD 100,000. In contrast, Northbound transits saw much higher levels of auction activity, with winning bids reaching higher than half
a million dollars. Overall, around 57% of auctions sold and the remaining slots offered without any bidders.
PANAMA
Segment Distributions
Disclaimer: The information in these graph/stats is derived from observed data and may not be entirely accurate. Pls consider it as general reference.
Super Neo-Panamax Regular
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
Navigating August: A Look Ahead at the Panama Canal
According to Advisories to Shipping No. 22-25 issued by the Panama Canal
Authority (ACP), the scheduled outage at Gatun Locks from 19 to 21 August
2025 has been cancelled. This outage was initially expected to reduce
Panamax Locks capacity to 16 vessels per day, but with its cancellation, the
daily transit capacity has been restored to 26 vessels per day for those
dates. The maintenance will be rescheduled and announced in due course.
We anticipate a potential increase in demand during this period, similar to
trends observed in July. Please take this into consideration and plan your
transits well in advance to secure your preferred slots.
Separately, a tentative maintenance is planned for the Panamax (old)
locks from 1 to 10 September 2025, during which the transit capacity will
again be reduced from 26 to 16 vessels per day. This may significantly
affect slot availability before and during the maintenance window. The ACP
will provide further confirmation as the date approaches.
Advisory Updates – Maintenance
