Panama Canal slashes daily slots to 32: freight rates set to surge

The Panama Canal Authority will reduce its daily booking capacity to 32 ships starting in mid-September due to worsening rainfall deficits linked to El Niño. The measures aim to conserve water as precipitation levels remain below expectations despite the rainy season. From September 4, the canal will offer nine neopanamax slots and 25 panamax slots per day. On September 15, panamax availability will decrease further to 23 slots, lowering the total daily capacity. These adjustments follow earlier restrictions, including draft limitations imposed in June for the first time in nearly…

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