Panama Canal restrictions put up to US$10 Billion of CARICOM imports at risk - CPSO warns

(Kaieteur News) – Between US$8 billion and US$10 billion of the Caribbean Community’s (CARICOM’s) annual imports, roughly one quarter to one third of the Region’s non-fuel import bill are exposed to the transit restrictions now taking effect at the Panama Canal, according to preliminary analysis by the CARICOM Private Sector Organization (CPSO).

In a press release, the CPSO is advising importers and governments to plan for higher landed costs and thinner inventories through the 2027 dry season. The Panama Canal Authority’s Advisory A-29-2026 caps daily transits at 34 vessels for booking dates from 4 September, falling to 32 from 15 September. Rainfall in the canal watershed has run 34% below the historical average from May through August, with inflows 44% below.

The Authority has warned that the expected intensity of the 2026 to 2027 El Niño could further reduce water availability during the next dry season, from January to April 2027. The cost signals are already visible. A priority auction slot recently fetched US$5.3 million, reported as the highest bid ever recorded, and CMA CGM, MSC and Hapag-Lloyd have each announced per-TEU surcharges on canal-dependent routes, with further increases expected as draft limits tighten.