Panama Canal boosts ship depth, crossings at Neopanamax locks after rains

(Reuters) - The Panama Canal authority said on Wednesday that recent rains boosted water levels, allowing heavier ships with larger cargo loads to transit the canal's Neopanamax locks.

The maximum ship depth for the key global waterway will be set at 47 feet (14.33 m) effective immediately, and on July 11, will deepen to 48 feet (14.63 m), the canal authority said in an advisory to clients.

The authority also opened up another transit slot for Neopanamax ships for booking dates after Aug. 5, bringing the total number of available slots in both Neopanamax and Panamax locks to 35 slots.

The latest changes should provide more flexibility for shippers, some of whom have turned to alternative routes to move goods as the canal has suffered a series of restrictions due to drought.

(Reporting by Kylie Madry; Editing by Anthony Esposito)