Panama Canal congestion hits yearly high, prompting Jones Act waivers

Panama Canal congestion has reached its yearly high in 2026, with wait times up 50% year-over-year and a scheduled dry chamber overhaul on Gatun Locks (June 9–17) set to halve daily transit slots from ~36–40 down to 16, severely worsening delays for tankers, bulk carriers, and container ships. The backlog has triggered multiple Jones Act waivers for US domestic shipments and may prompt widespread rerouting via Cape of Good Hope or Cape Horn, with congestion risks extending beyond June due to potential El Niño water-level constraints.