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Panama Canal auction fee hits record $5.3 million amid drought-driven transit restrictions
El UniversoLO·PA·2 days ago
The Panama Canal Authority is temporarily relaxing Neopanamax booking requirements to offer shippers more flexibility as it prepares for reduced transit capacity. The move signals an anticipated tightening of slot availability, likely due to water-level constraints or maintenance, which could disrupt global shipping schedules and raise freight costs. The exact cause and duration of the capacity reduction remain unspecified.