Panama Canal Caps Daily Transits as El Niño Threatens Its 2026 Recovery
The Panama Canal caps daily transits in September 2026 as El Niño returns, pressuring water levels and freight after a strong fiscal year recovery. The post Panama Canal Caps Daily Transits as El Niño Threatens Its 2026 Recovery appeared first on The Rio Times .
The Panama Canal has reduced the number of daily transits to 34 vessels starting September 4, 2026, in response to the threat posed by El Niño. This is a shift from the drought recovery phase, where strong revenues and full reservoirs were expected. The canal's 2023-2024 drought caused a 21% decrease in deep-draft transits, with total revenues reaching 4.99 billion Panamanian balboas, roughly 209 million PAB above budget.
Gatún Lake, the main reservoir, returned to normal levels in February 2026, but El Niño has forced the canal authority to implement draft limits and restrictions. The maximum draft for Neopanamax ships has been cut to 48 feet, and daily transits are projected to be capped at 34 vessels, falling to 32 from September 15. Neopanamax locks capacity is limited to 9 slots per day, while Panamax locks will run at 25 slots, dropping to 23 from mid-September.
The canal's operators warned that further cuts are possible if water inflows and accumulated rainfall continue to decline.
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