The Panama Canal Authority states that it has not witnessed a significant surge in traffic linked to the Red Sea situation, where Houthi attacks are compelling vessels to alter routes or disable transponders. The Suez Canal, handling around 12% of global trade, is experiencing disruptions, potentially leading some vessel owners to consider navigating the Panama Canal despite transit restrictions caused by severe drought. The Panama Canal Authority recently increased the number of authorized daily transits to 24, relaxing a planned reduction. However, it emphasizes continued monitoring of water conditions, dependent on rainfall variability in the coming months. The Houthi attacks in the Red Sea have prompted Germany's Hapag-Lloyd to reroute 25 ships from the Suez Canal by year-end.

SOURCE:GOOGLE