Hormuz traffic hits a record low, Panama Canal to limit navigation from September
Strait of Hormuz
According to the latest data from vessel tracking firm Kpler, the number of commercial vessels passing through the Strait of Hormuz on August 24 dropped to its lowest level in over three months.
Meanwhile, an oil tanker was attacked in waters near Oman — the UK Maritime Trade Operations (UKMTO) reported on August 25 that the tanker was struck by an unidentified projectile, resulting in engine room damage and loss of propulsion. UN Secretary-General António Guterres stated on August 24 that the ongoing conflicts in the Middle East and Ukraine are seriously impacting global trade, energy, and food supplies through the disruption of maritime shipping.
Panama Canal
Affected by persistent drought triggered by the El Niño phenomenon, the Panama Canal Authority announced phased transit restrictions:
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Effective September 3: Daily vessel transits reduced from 36 to 34.
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Effective September 15: Further reduced to 32 (9 via Neopanamax locks, 23 via Panamax locks).
The canal restrictions will further tighten global effective shipping capacity, with particularly pronounced impacts on East Coast and Gulf of Mexico routes. Multiple carriers have announced Panama Canal surcharges on Asia–USEC and Asia–USGC routes starting September.