Ports
Panama Canal Draught Cuts to Worsen Congestion as 112 Vessels Await Transit
The Panama Canal faces mounting congestion with 112 vessels awaiting entrance, compounded by draught restrictions ahead of the El Niño season. The canal authority plans to reduce maximum draught for neo-panamax transits to 48ft on 26 August and 47.5ft on 3 September. Queue-jump slot prices have surged from $135,000–$140,000 pre-Iran war to an average of $385,000 by March, with one carrier paying over $4.6m to bypass delays.
