Panama Canal Proposes Cutting Daily Transits to 29.5 From October

Panama submitted a draft plan to limit Panama Canal transits to 29.5 vessels daily on average from October, down 18% from 36 in August, due to El Niño drought. The canal handles 5% of global maritime trade and about 40% of US container traffic. El Niño is forecast to peak later in 2026 as the strongest in four decades.