Water levels in Gatun Lake, a key reservoir in the Panama Canal, are currently near the usual August average. Experts warn, however, that continued drought will likely push those levels lower in the months ahead, prompting the Panama Canal Authority to impose weight limits and surcharges. Prolonged dry conditions linked to El Niño have further reduced available water, restricting how many ships can safely pass through the canal. Vessels require tens of millions of gallons of freshwater to operate the canal’s lock system. Oil and container shipping companies are now bidding heavily for limited “priority” transit slots. Smaller cargo ships that previously paid around $15,000 to move ahead in line are now averaging roughly $1 million per transit.  At least one larger tanker, which would normally pay roughly $55,000, paid $4 million for a priority passage.  See more at: www.circleofblue.com “Falling Water Levels in Panama Canal Send Shipping Costs Surging,” Christian Thorsberg 8/18/2026

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CMA CGM announced it will apply an Emergency Fuel Surcharge (EFS) effective August 1st (Loading date), which will remain in place until further notice. Following renewed hostilities in the Strait of Hormuz, fuel prices have surged sharply. As a result of these escalations, bunker costs have increased significantly across all regions and trades, impacting ocean shipping costs. See more at: www.cma-cgm.com “ADVISORY #12 - Middle East: Emergency Fuel Surcharge Implementation,” 7/21/2026)

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South Carolina Ports Authority (SC Ports) plan to temporarily halt container operations at the Hugh K. Leatherman Terminal starting August 1. The move represents the latest challenge for the billion-dollar facility, which has faced difficulties building momentum since it opened more than five years ago. Port officials announced Thursday that they will shift and consolidate all container activity to the Wando Welch and North Charleston terminals as the shipping industry deals with softer cargo volumes, ongoing trade uncertainty, and other economic pressures. See more at: gcaptain.com “South Carolina Ports to Pause Leatherman Terminal Operations…,” by Mike Schuler, 6/29/2026

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The MSC commercial containership Sariska V was struck twice in the port of Um-Qasr, Iraq on June 1^st.  The Geneva-based shipping company confirmed that the first projectile hit the vessel as it was being piloted out of port with a second strike hitting the crew area shortly after.  MSC stated that crew members were unharmed and responded professionally to the unprovoked attack.  Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed responsibility for the attack. See more at: seatrade-maritime.com “MSC confirms strike on MSC Sariska V, condemns unprovoked attacks," by Marcus Hand, 6/2/2026)

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