The Panama Canal Authority has eased restrictions amid stabilizing Gatun Lake levels near 84.7 feet and near-average September rainfall, raising Neopanamax draft to 49 feet immediately and expanding total daily transits to 33 slots starting October 15. This follows earlier El Niño-driven cuts to 32 transits and tighter drafts that prompted some LNG and container vessels to divert around South America, elevating freight costs and extending transit times. A watershed water deficit persists, however, with booking reservations required to avoid indefinite delays and further tightening possible if dry conditions intensify later in the hydrological year. Traders monitor upcoming precipitation data and Authority advisories for signals on sustained capacity versus renewed constraints.