Panama Canal Proposes Cutting Daily Crossings to 29.5 From October

Panama has proposed limiting canal crossings to 29.5 ships a day on average from October, down 18% from 36 in August, because of drought tied to El Niño. The canal carries 5% of world shipping trade and about 40% of U.S. container traffic. El Niño is forecast to peak later in 2026, the strongest in four decades.