Panama Canal to cut daily transits to 29.5 as El Nino drought bites
The Panama Canal will reduce daily ship transits to an average of 29.5 from October, after already cutting them from 36 to 32 on Sept 4 to conserve water during an El Nino-driven drought. Panama has declared a nationwide emergency over the weather pattern, which is expected to be the strongest in four decades. About 5% of global trade passes through the canal.