Just as the Panama Canal was recovering from its 2023–24 drought — FY2025 revenue rose 14.4% to $5.7 billion on 13,404 transits — a new El Niño cycle is forcing caution. The Panama Canal Authority (ACP) will reduce the number of daily vessel slots from 36 to 34 starting September 3, dropping further to 32 from September 15, as water levels in the lakes that feed the canal decline.
The ACP says it doesn’t expect a full closure in 2026, but shipowners should brace for tighter transit windows, variable freshwater surcharges, and compressed slot availability during peak season — echoing the disruption that sent freight rates soaring during the last drought cycle.
Source: Al Jazeera — https://www.aljazeera.com/news/2026/8/21/panama-canal-to-limit-shipping-ahead-of-extreme-weather-during-el-nino
