The Panama Canal Authority will suspend daily period-three auctions for Panamax locks from July 25, cutting daily booking capacity from 36 to 34 vessels, citing current hydrological conditions and the potential development of an El Niño weather pattern. Gatun Lake’s water level stands at 84.6 feet, just below the five-year July average of 84.7 feet, and is projected to decline to 83.8 feet by late September, 1.4 feet below the five-year average. During the 2023–2024 El Niño, monthly vessel traffic through the canal fell from a pre‑Niño peak of 1,523 in December 2022 to a low of 1,054 in February 2024.
Context
The Panamax-lock suspension comes just over a week after the canal authority announced draft restrictions for Neopanamax vessels , as NOAA’s Climate Prediction Center estimates an 81% chance of a “very strong” El Niño in October–December 2026 .
