Panama Canal Eases Limits That Caused Global Shipping Bottleneck

The Panama Canal is lifting restrictions that caused a global shipping bottleneck as water levels normalize after a severe drought.

The Panama Canal Authority increased the draft in the waterway to a maximum 50 feet and will allow 36 vessels a day to transit after recent rains lifted water levels at an artificial lake that forms part of the canal system, administrator Ricaurte Vasquez told reporters Monday. The agency expects rains to continue through November, further lifting water levels, he said.

The canal handles about 3% of global maritime trade volumes under normal circumstances, and 46% of containers moving from ...