NEWSLETTER
www.lethagencies.com
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS Oct 2025Issue 012
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•Middle East Update•Suez Canal Update•Leth in Panama City
We are delighted to share that LETH has expanded our presence
to Panama City. With our colleague Bjørn Jeppesen now based
there, we can provide seamless support during the Americas
timezone and strengthen our ability to deliver truly 24/7
coverage.
This expansion strengthens our ability to ensure your Suez &
Panama transit enquiries are promptly attended to around the
clock, with seamless handovers between our global offices
providing uninterrupted support. Our presence in American
timezone reflects our ongoing commitment to offer faster
responses, greater reliability, and the peace of mind that comes
with knowing we are always here to support your business,
wherever and whenever needed.
Expanding to Serve You Better - Now in Panama City
Average Weekly Suez Canal Transits: Week 1-39/2025
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 27-39)
250.00124.08 125.92 67.15 2.62 67.9233.54 6.008.00 23.08 6.92 19.00 15.77
Weekly Average Q2 25
(Week 14-26)
+13.2 +4.9 +8.2 +2.5 -0.4+10.2 -1.8-0.1+4.4 +0.8 +0.8 -0.1-3.4
EGYPT
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. Days after the Israeli strike in Sanaa, which
killed the Houthi Prime Minister on 31 August, the Houthi
movement claimed responsibility for a missile attack on the
Israeli-owned tanker Scarlet Ray. The latest attack, on 24
September, was a Houthi drone attack targeting the south of Israeli
city of Eilat, injuring 22 people. In retaliation for the 24 September
drone strike, on 25 September, Israel conducted air strikes on
military targets in Sanaa, Yemen, including Houthi command
centers and military compounds. Houthi officials reported at least
nine fatalities and over 170 injuries, including civilians, while
extensive damage to buildings and infrastructure was documented.
Beyond this, throughout September, there have only been two
official reports of incidents in the Red Sea, while Israel continued to
conduct airstrikes in Yemen, causing extensive damage and deaths.
On 9 September, Israeli fighter jets flying over the Red Sea launched
ballistic missiles targeting Hamas leaders in Qatar who were
gathering in a meeting to discuss the latest US proposal for a
ceasefire in the Gaza Strip. This incident, which resulted in five Hamas
members and one Qatari security guard being killed, upended
months of diplomacy mediated by Qatar in the Israel-Hamas war.
These moves sparked widespread condemnation from Arab and
Islamic states, though without concrete action, further destabilising
the region.
Based in Panama, I am able to contribute directly to strengthening
our local presence while ensuring clients continue to receive
reliable, around-the-clock service. If you are ever in Panama, I
would be delighted to connect.
Bjørn Jeppesen
Operations
Moving to Panama City has been an important professional step
and an exciting new chapter in my career. From here, I oversee
canal transit operations during the American timezone. My
experience across both Suez and Panama Canal transits enables
me to assist clients efficiently and maintain seamless 24/7
operational support. YOUR PREFERRED AGENT IN MARITIME HOTSPOTS
MaltaPanama SpainGibraltarDenmarkEgyptSingaporeTurkey
LETH NEWSLETTER Oct 2025
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
PANAMA
September’s Canal traffic remained steady, with Super and Regular slots widely available throughout the month. Neopanamax continued
to see strong demand in both directions. The Canal performed near full capacity, averaging 33.73 transits per day from a maximum of 36.
In the Regular segment, demand dipped compared with August, despite limited daily availability. During the third booking period (auction),
roughly 33% of Regular slots were sold, with the rest offered without any bidders. Bidding generally stayed close to the starting price of USD
15,000.
For October, Super and Regular slots remain widely available. Neopanamax slots continue to face strong demand due to limited
availability. We strongly encourage early planning for your Panama Canal transits, and our team is ready to provide the guidance and support
you need.
For Panamax-Super vessels, most slots were secured during the first and second booking periods, allowing clients the flexibility to monitor
ETAs before committing. Demand was slightly higher compared with August, with the majority of slots taken up before the close of each
period. Bidding largely remained near the starting price of USD 55,000, and approximately 48.3% of auctions in this segment were sold, while
the remaining slots went unbid.
The Neopanamax segment experienced strong demand in both directions. Bidding levels generally averaged above USD 500,000, with the
highest bid reaching close to USD 1.5 million. Overall, around 64.2% of auctions were successfully sold, while the remaining slots offered
without any bidders.
October Ahead: Key Canal Operations and Slot Insights
Disclaimer: The information in these graph/stats is derived from observed data and may not be entirely accurate. Pls consider it as general reference.
According to Advisories to Shipping No. 26-25 issued by the
Panama Canal Authority (ACP), The scheduled maintenance will
not reduce the capacity and will therefore have minimal impact
on daily capacity and traffic.
Maintenance
LoTSA 2.0
The Panama Canal Authority will implement LoTSA 2.0 from January
2026, enhancing the long-term slot allocation (LoTSA) system. The
product will now run in two six-month cycles instead of one annual cycle,
with the average daily slots reduced from 4 to 3. Service packages are
segmented into Fix (for guaranteed certainty), Flex (for adaptability), and
Flex+ (for greater flexibility across multiple vessel types). Key benefits
include earlier access to reserve transit dates, the ability to name vessels
up to 15 days in advance, and more flexible booking amendments or
cancellations.
The current customer ranking will remain in effect for the first cycle while
a new ranking system is developed. Advanced-access rules for LNG
vessels will be reinstated for booking dates 4 January 2026 onwards, and
the one-slot-per-customer restriction at the Neopanamax Locks will be
removed from the same date. Read more here.
Advisory Updates
Segment Distributions
Super Neo-Panamax
Regular
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS
MaltaPanama SpainGibraltarDenmarkEgyptSingaporeTurkey
LETH NEWSLETTER Oct 2025
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
PANAMA
September’s Canal traffic remained steady, with Super and Regular slots widely available throughout the month. Neopanamax continued
to see strong demand in both directions. The Canal performed near full capacity, averaging 33.73 transits per day from a maximum of 36.
In the Regular segment, demand dipped compared with August, despite limited daily availability. During the third booking period (auction),
roughly 33% of Regular slots were sold, with the rest offered without any bidders. Bidding generally stayed close to the starting price of USD
15,000.
For October, Super and Regular slots remain widely available. Neopanamax slots continue to face strong demand due to limited
availability. We strongly encourage early planning for your Panama Canal transits, and our team is ready to provide the guidance and support
you need.
For Panamax-Super vessels, most slots were secured during the first and second booking periods, allowing clients the flexibility to monitor
ETAs before committing. Demand was slightly higher compared with August, with the majority of slots taken up before the close of each
period. Bidding largely remained near the starting price of USD 55,000, and approximately 48.3% of auctions in this segment were sold, while
the remaining slots went unbid.
The Neopanamax segment experienced strong demand in both directions. Bidding levels generally averaged above USD 500,000, with the
highest bid reaching close to USD 1.5 million. Overall, around 64.2% of auctions were successfully sold, while the remaining slots offered
without any bidders.
October Ahead: Key Canal Operations and Slot Insights
Disclaimer: The information in these graph/stats is derived from observed data and may not be entirely accurate. Pls consider it as general reference.
According to Advisories to Shipping No. 26-25 issued by the
Panama Canal Authority (ACP), The scheduled maintenance will
not reduce the capacity and will therefore have minimal impact
on daily capacity and traffic.
Maintenance
LoTSA 2.0
The Panama Canal Authority will implement LoTSA 2.0 from January
2026, enhancing the long-term slot allocation (LoTSA) system. The
product will now run in two six-month cycles instead of one annual cycle,
with the average daily slots reduced from 4 to 3. Service packages are
segmented into Fix (for guaranteed certainty), Flex (for adaptability), and
Flex+ (for greater flexibility across multiple vessel types). Key benefits
include earlier access to reserve transit dates, the ability to name vessels
up to 15 days in advance, and more flexible booking amendments or
cancellations.
The current customer ranking will remain in effect for the first cycle while
a new ranking system is developed. Advanced-access rules for LNG
vessels will be reinstated for booking dates 4 January 2026 onwards, and
the one-slot-per-customer restriction at the Neopanamax Locks will be
removed from the same date. Read more here.
Advisory Updates
Segment Distributions
Super Neo-Panamax
Regular
