Ports
Panama Canal Reduces Daily Transit Slots Amid Rainfall Shortfall
The Panama Canal Authority announced Thursday that daily Neopanamax capacity will be reduced to nine slots beginning September 3, while Panamax capacity will be set at 25 slots, tightening further to 23 slots from September 15. Below-expected rainfall across the canal watershed has prompted the cuts despite earlier optimistic forecasts. The canal is also restructuring its auction system beginning September 3, dividing participants into four groups to spread capacity more evenly among shipping sectors.
