NEWSLETTER
www.lethagencies.com
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS
December 2024Issue 002
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.
In Guardian, our Risk Advisory team closely monitors the Middle East developments to aid our clients with insights and operational
recommendations. When looking at the ceasefire between Hezbollah and Israel, it is assessed that it will not necessarily trickle down to
Gaza. Interrupting the conflict with Hezbollah follows the Israeli acknowledgement that the Iran-backed organisation is effectively
decapacitated and a large part of its assets located in southern Lebanon destroyed. This allows the IDF time to restock supplies and allow
personnel to rest. However, the situation in Gaza is different. In Gaza, Israel aims to destroy Hamas, and a permanent occupation of part
of the strip is not unrealistic. Concurrently, in the Red Sea the Yemen-based Houthi have continued to target U.S. warships and navy
destroyers on a weekly basis. However, the total number of monthly incidents targeting commercial ships is steadily decreasing, with four
targeted attacks occurring in October and two in November.
Middle East Update
Despite unrest in the Red Sea disrupting trade patterns and reducing transit numbers through the Suez
Canal, we continue to see activity and interest in the canal under our agency. Meanwhile, with the
ongoing geopolitical shifts and the rise in sanctions in recent years, compliance and due diligence have
become more critical than ever. At Leth, we do not compromise on our integrity. We will continue to be
the professional and trustworthy agents that our industry partners know us for.
-Julie Mailind
Operations Director-Suez Canal
Egypt
Update from our analyst at Guardian
If you have further questions, contact us here YOUR PREFERRED AGENT IN MARITIME HOTSPOTS
MaltaPanama Spain GibraltarDenmarkEgypt Singapore Turkey
LETH NEWSLETTER DECEMBER 2024
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
Panama Canal
Panamax Segment DistributionRegular Segment Distribution Neo-Panamax Segment Distribution
Note: With an average of 33.2 vessels daily the Panama Canal capacity has not been
utilized fully in month of November.
Source: Lloyds AIS, Observed Data
Panama Canal- Total Daily Transits
Disclaimer: The information in these graphs/stats is derived from observed data and may not be entirely accurate. Please consider it as a general reference.
Month of November saw the daily transit volumes nearing its
pre-water crisis levels with an average of 33.2 vessels per day,
which is still a couple of vessels short of full capacity. However,
this number includes the two days of maintenance for which the
Panama Canal Authority (ACP) had restricted capacity to a total of
26 vessels.
Apart from the announced maintenance, the ACP further published four
other advisories during November. Most noticeable were the
postponement of the low-carbon transit slot launch date, an initiative
encouraging energy efficient technologies in the Panama Canal, and the
introduction of substitution and swapping of booking slots between
container vessels of cooperative working agreement members (alliance
and vessel sharing agreements).
As for November, the ACP has announced two days of significant
maintenance work in the old locks, resulting in capacity restrictions.
The capacity for the old locks will be reduced from 26 to 16 vessels on
the 12th and 13th of December. We recommend having this in mind
when trying to obtain slots during or around these dates.
Through partnerships, we have at LETH been able to stretch
beyond our Suez Canal roots, offering innovative and high-quality
service in other maritime hotspots such as Panama, Singapore,
Denmark, and more. To further enhance and strengthen our global
reach, we are pleased to announce that our partnership with
Inchcape Shipping Services has been expanded to important
maritime hubs Gibraltar, Algeciras, and Malta. The expansion will
allow us to provide husbandry services, bunker operations, crew
change etc. in these areas at the same level of quality as we are
known for in the shipping industry. Using Inchcape’s local
infrastructure and dedicated staff together with LETH’s distractive
customer centric and solution-based value proposition, we hope to
deliver something unique to our customers.
Advisory
Mediterranean Partnership Announcement
Update from Canal De Panama
