Panama Canal to Cut Daily Transits to 32 from September; Four Carriers Yet to Adjust Published Surcharges

On August 20, 2026, the Panama Canal Authority (ACP) announced that the number of vessels permitted to transit the canal each day would be reduced from 36 to 34 starting September 3, followed by a further reduction to 32 from September 15, 2026. The ACP also postponed two upcoming draft restrictions to September 2 and October 1, 2026, respectively.

According to the ACP, rainfall in the Panama Canal watershed during May–August 2026 was 34% below the historical average, while inflows into the watershed were 44% below average.

Meanwhile, four major carriers operating services from the Far East to the U.S. East Coast and Gulf of Mexico - CMA CGM, MSC, ONE and Hapag-Lloyd - had announced Panama Canal-related surcharges before the ACP introduced its latest measures. As of August 24, none of the four carriers had announced any changes to these surcharge levels.

ACP to Reduce Canal Transits to 32 per Day

Under Advisory to Shipping No. A-29-2026, issued on August 20, 2026, the ACP will reduce the number of daily transits through the Neopanamax locks from 10 to nine, while Panamax lock transits will fall from 26 to 25 per day, effective September 3.

From September 15, the number of Panamax lock transits will be further reduced to 23 per day. As a result, the total number of vessels permitted to transit the two lock systems will decline from 36 to 34 and then to 32 per day, representing a reduction of approximately 11% from the current capacity.

This is the first time during this year's drought that the ACP has simultaneously adjusted both transit slots and draft restrictions. Previously, the canal authority had mainly adjusted draft restrictions for Neopanamax vessels.

The immediate cause is the shortage of water in the watershed. Rainfall during May–August 2026 was 34% below the historical average, while inflows into the watershed—the critical water source for operating the lock system—were 44% below the average for the same period.

The ACP also warned that the El Niño phenomenon during 2026–2027 could further reduce rainfall during the remainder of the wet season, increasing pressure on water resources needed for canal operations during the 2027 dry season.

In the same advisory, the ACP postponed two upcoming draft restrictions for Neopanamax vessels. The 48.0-ft limit, originally scheduled to take effect on August 26, has been postponed to September 2, while the 47.5-ft limit, originally scheduled for September 3, has been postponed to October 1, 2026.

Previously, the ACP had made three consecutive draft adjustments over a period of approximately six weeks, from 49.5 ft on July 3 to 49.0 ft on July 24 and 48.5 ft on August 15.

The latest reduction in daily transit slots is an additional measure and does not replace the draft restriction mechanism. The two measures will be applied in parallel to regulate Panama Canal operating capacity under constrained water availability.

Compared with the severe drought of 2023–2024, the current adjustment remains significantly less restrictive. During that period, the ACP reduced daily transits to 32 in August 2023, followed by 24 in November and 22 in December 2023.

Four Carriers Yet to Adjust Their Published Surcharges

The four carriers announced Panama Canal-related surcharges for services from the Far East to the U.S. East Coast and Gulf of Mexico between late July and mid-August 2026, before the ACP announced the new transit-slot reduction mechanism on August 20.

CMA CGM has set its Panama Canal Adjustment Factor at USD 500/TEU, equivalent to USD 1,000 per 40ft container, effective September 10, 2026. This represents a 56% increase from USD 320/TEU, or USD 640 per 40ft container, which took effect on July 25.

MSC has set its Panama Canal Surcharge at USD 149 per 20ft, USD 297 per 40ft and USD 376 per 45ft container, based on the container delivery date to the port from September 12, 2026. The 20ft rate has increased from USD 100, while the 40ft rate has risen from USD 200.

ONE has introduced a Panama Canal Transit Fee of USD 150/TEU for its EC1, EC2 and EC4 services on the eastbound transpacific trade, effective August 10.

Meanwhile, Hapag-Lloyd has imposed a USD 130/TEU surcharge on services from the Far East to North America via the Panama Canal, effective August 15. The carrier cited draft restrictions that could reduce vessels' operational cargo capacity.

As of August 24, 2026, none of the four carriers had announced any changes to these surcharge levels following the ACP's latest announcement.

It is important to distinguish between the existing surcharges, which were primarily announced in response to costs and draft restrictions, and the ACP's reduction in daily transit slots, which is a new capacity-management measure. If carriers introduce separate surcharges as a result of the latest change, these would constitute a new round of adjustments and should not be combined with previously announced charges.

Impact Varies Across U.S.-Bound Services

The Panama Canal plays an important role in cargo flows between Asia and the U.S. East Coast and Gulf of Mexico. However, the impact on Vietnamese exports depends on the specific service and routing.

Some services from Vietnam to the U.S. East Coast and Gulf of Mexico use the Panama Canal, while others may operate via the Suez Canal or alternative routes.

By contrast, shipments from Vietnam to the U.S. West Coast do not use the Panama Canal on currently operated direct services.

Therefore, a single surcharge should not be applied to all Vietnamese cargo destined for the U.S. Freight costs should be determined based on the carrier, service, routing and effective date of the applicable surcharge.

Key Considerations for Importers and Exporters

●    Cargo bound for the U.S. East Coast and Gulf of Mexico should be checked against the applicable carrier surcharge. For CMA CGM, the rate is USD 500/TEU, equivalent to USD 1,000 per 40ft container, from September 10; for MSC, the 40ft rate is USD 297 from September 12.

●    Cargo bound for the U.S. West Coast is not subject to the Panama Canal surcharges mentioned above, as these services do not use the canal.

●    Do not assume that all cargo bound for the U.S. East Coast will transit the Panama Canal. Some services may operate via the Suez Canal or other routings, depending on the carrier's operational decisions.

●    Monitor the possibility of new surcharges if the reduction in canal transits leads to longer waiting times or higher operating costs. If such a surcharge is introduced, it should be distinguished from the charges already in effect before August 20.

Key Considerations for Logistics Companies

●    When quoting services to the U.S. East Coast and Gulf of Mexico, clearly specify the carrier, service, container type and surcharge effective date, rather than converting all charges into a single USD/container figure.

●    The four carriers use different calculation methods. CMA CGM and ONE charge on a per-TEU basis, while MSC differentiates between 20ft, 40ft and 45ft containers. Consolidating these rates into a single figure could result in inaccuracies when preparing quotations.

●    Monitor the operating schedules of individual services from September onward, particularly those dependent on Panama Canal transit capacity. The reduction in daily transit slots may first be reflected in waiting times and schedule reliability before appearing in freight rates or surcharges.

●    If a carrier introduces a new surcharge directly related to the reduction in transit slots, the charge should be listed separately from existing Panama Canal surcharges to avoid double-charging customers.

Frequently Asked Questions

How much will the Panama Canal reduce daily vessel transits?

From September 3, 2026, the total number of vessels permitted to transit the canal will decrease from 36 to 34 per day. From September 15, the number will fall further to 32 per day, according to ACP Advisory to Shipping No. A-29-2026.

What are the current Panama Canal surcharges charged by the carriers?

As of August 24, 2026, CMA CGM charges USD 500/TEU from September 10; MSC charges USD 149–376, depending on container type, from September 12; ONE charges USD 150/TEU from August 10; and Hapag-Lloyd charges USD 130/TEU from August 15.

None of these rates had been adjusted by the carriers following the ACP's August 20 announcement.

Will Vietnamese exports to the U.S. be affected?

Yes, but the impact will vary by service. Cargo bound for the U.S. East Coast and Gulf of Mexico may be affected if it moves on services transiting the Panama Canal. Other services may operate via the Suez Canal or alternative routes.

Cargo bound for the U.S. West Coast, meanwhile, is not subject to the Panama Canal surcharges mentioned above because these services do not use the canal.

See more:

• International Shipping and Logistics Market Update Week 34/2026 | Phaata
• Shipping Lines Gradually Resume Suez Canal Services as Traffic Reaches Highest Level Since Early 2024
• COSCO and OOCL Increase Capacity on the Mediterranean–West Africa MWAX Service
• EUA Prices Hover Around EUR 82/Tonne in Mid-August: A Key Indicator to Watch for Q4/2026 ETS/FuelEU Surcharges
• COSCO and OOCL Increase Capacity on the Mediterranean–West Africa MWAX Service
• Hormuz Strait Vessel Traffic Edges Up After the Weekend
• Global Air Cargo Spot Rates Ease to $3.12/kg Ahead of Peak
• Q3/2026 Europe-Bound Environmental Surcharges: Maersk and ONE Differ by $49/FEU, While MSC Quotes by TEU
• Panama Canal Tightens Draft Limits in Three Consecutive Steps as Four Carriers Impose Surcharges Differing by Up to 3.2 Times
• COSCO schedules: Vietnam - North America in Aug 2026
• SITC updates Vietnam-Intra Asia sailing schedules in Aug 2026

Source: Phaata.com 

► Find Better Freight Rates & Logistics Service Providers!

Reference source: ACP - Advisory to Shipping No. A-29-2026, MSC - Panama Canal Surcharge Update, ONE - Notice of Surcharge Update: PCT, Supply Chain Dive, Container News