PanaMax tankers are the largest tankers that can currently pass through the Panama Canal in Central America. They are mid-sized vessels with DWT between 50,000 and 80,000. Because of the locks contained within the Panama Canal, tankers that pass through have strict size dimensions by width, draught and length. The maximum dimensions of a PanaMax are currently a length of 294 metres, a width of 32 metres and draught of 12 metres, and this allows safe passage of tankers through the locks in the canal and under the Bridge of Americas at Balboa. The size restrictions are governed by the Panama Canal Authority who oversee all operations to do with the canal.
PanaMax tankers operate in the regions of Central America, especially around Panama. They trade in short haul because of their limited size which makes them less economically viable than larger tankers when transporting crude oil. As a result, PanaMax tankers are used mostly to transport finished petroleum products between ports in Central and Northern America.
As is the case with the majority of waterways used in the transit of crude oil, the authority responsible for its maintenance and operation is always looking for ways to increase its capabilities. In 2009, the Panama Canal Authority set out dimensions for the New PanaMax tankers that could transit through the larger third lock in the canal. The New PanaMax tankers will be allowed a length of 366 metres, a width of 49 metres and draught of 15.2 metres. The Panama Canal Authority are hoping to double the tonnage capacity of the canal in 2014 when the new lock is opened to international maritime traffic.
The Oil Exchange 