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Topic: panama-canal

The Miraflores Locks on the Panama Canal
New Economy
Friday, 8/21, 03:56 AM

The Panama Canal is rationing transits again as a record El Niño builds

  • The Panama Canal Authority is cutting daily booking slots and tightening draft limits as rainfall in the canal's watershed runs 34% below normal.
  • NOAA now puts the odds of a very strong El Niño this fall and winter above 90%, which means the restrictions are likely to deepen rather than lift, and shippers have a 2023 precedent for what that costs.

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