In the price and market structure bucket, Panama Canal authorities warned that daily ship transits could fall again if El Niño keeps rainfall low. The canal cut the daily limit from 36 to 34 ships on September 4 and plans to reduce it to 32 on September 15.
New administrator Ilya Espino de Marotta said the limit could fall to about 29 ships in February or March if the drought persists. Rainfall in September, October and November will determine whether the authority imposes further restrictions early next year.
The canal depends on freshwater from Gatun and Alajuela lakes to operate its locks. Al Jazeera reported that an average transit consumes about 200 million litres of water, while the current maximum vessel draft has fallen from 15.2 metres to 14.6 metres.
The restrictions matter for operators that depend on reliable booking windows and cargo drafts. Fewer daily slots increase pressure on reservations and raise the risk of delays for vessels arriving without confirmed transit dates.