Panama Canal Reverses May Assurance, Imposes Transit Caps as El Niño Strengthens

The Panama Canal Authority will cap daily transits at 34 on September 4, 2026, then cut to 32 on September 15 — down from the normal ~40 — reversing its May pledge that no restrictions were needed through year-end. A strengthening El Niño, potentially among the strongest on record, drove the reversal. The canal handles roughly 5% of global maritime trade.