Panama Canal cuts daily transits to 32 by mid-September amid El Niño drought

The Panama Canal Authority will reduce daily ship transits from 36 to 34 starting this Thursday, with a further cut to 32 by September 15, due to low water levels exacerbated by El Niño. The measure extends an existing pattern of capacity restrictions, signaling sustained disruption to a key global trade chokepoint. The impact on shipping schedules and freight rates is uncertain but potentially significant.