# Panama Canal to slash booking slots due to drought over coming months | Reuters

> The Panama Canal Authority will cut daily booking slots to 25 from 31 starting Nov. 3 because of severe drought, with further gradual reductions planned. The restrictions are expected to raise shipping costs on routes through the canal.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/33514-panama-canal-to-slash-booking-slots-due-to-drought-over-coming-months-reuters
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Fewer canal transits lengthen routes or force vessels to wait, raising ocean freight costs for US grain and other bulk exports to Asia. That supports freight rates and can widen the price gap for origins that depend on the canal.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/panama-canal-says-will-slash-booking-slots-due-drought-2023-10-31/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.