Panama Canal restricts ship traffic due to drought

© изображение сгенерировано ИИ

The Panama Canal has reduced the number of daily ship passages starting September 15 due to prolonged drought and low water levels in reservoirs, TASS reports. The restrictions are linked to an unusually low amount of rainfall in the canal basin.

The Panama Canal Authority announced further reductions in the number of available daily slots for ships. Starting September 15, no more than 23 ships per day are allowed to pass through the Panamax locks. Previously, since September 3, the limit was set at 25 passages per day.

At the same time, the restriction for larger ships using the Neopanamax locks remains in place, with only 9 slots available per day.

Under normal conditions, the Panama Canal handles about 36 ships daily. In some periods earlier this year, the number reached up to 40 passages per day.

The new restrictions are due to a water shortage. According to the canal authority, rainfall in the basin over the past four months has been 34% below the historical average. Water inflow has also decreased significantly—by 44% compared to the average level.

The water shortage is not only affecting the number of available transits but also the cost of priority passage. The option for expedited transit is allocated through special auctions, where ship owners are willing to pay significant amounts for priority.

In late August, a ship carrying liquefied gas paid a record $5.3 million for an expedited passage through the canal. The previous high was recorded in April, when around $4 million was paid for priority transit.

According to the Panama Canal Authority, between October 2025 and February 2026, the average auction bid was around $55,000. This figure has since increased by about three times.