# Panama drought and its impact on bulk shipping - India Seatrade News

> The Panama Canal is experiencing record-low water levels not seen since 2016, with draft limits cut to 44 feet and Panamax slots reduced from 23 to 14 per day. The vessel backlog reached 162 ships on August 8.

- Date: 2023-09-25 · published 2023-09-25T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/33990-panama-drought-and-its-impact-on-bulk-shipping-india-seatrade-news
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Reduced daily slots and draft limits constrain dry bulk grain flows through the canal, keeping ocean freight elevated for US and South American exporters.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- indiaseatradenews.com: https://indiaseatradenews.com/panama-drought-and-its-impact-on-bulk-shipping/

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