Falling water levels are once again tightening conditions at one of the world’s most important shipping routes. Further draught restrictions are being introduced as Gatún Lake levels decline, while Panama Canal transit-slot auctions have averaged around $1.1 million in August, more than 16 times year-ago levels.
The pressure comes as El Niño continues to strengthen, raising questions over rainfall, water levels and Canal operations in the months ahead.
Pole Star Global’s FleetWeather team examines the latest climate and precipitation forecasts, the outlook for Gatún Lake and what changing conditions could mean for vessels transiting the Canal.
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