NEWSLETTER
www.lethagencies.com
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS SEPTEMBER 2026Issue 023
Welcome to this month’s update from LETH! As the maritime industry navigates new challenges, we’re here to keep you informed on
the latest developments and updates.
Featured This Month:
•Panama Canal Update•Middle East Update•LETH at Breakbulk Americas•Suez Canal Update
There has been no further conflict related incident at an Egyptian
port since the July attack on Damietta, Egypt. However, future
attacks against oil and gas facilities are assessed to remain a realistic
possibility given the continuous military engagement between the
US and Iran.
The security environment in the Red Sea remained volatile, with
Houthi activity continuing to pose a direct threat to Saudi-affiliated
tankers. The Houthi ‘maritime embargo’ against Saudi Arabia
remained active and continued to translate into direct attacks
against Saudi-linked shipping. A Saudi Arabia-flagged crude oil
tanker was reportedly attacked approximately 64 NM west of Yanbu
after previously withholding its AIS signal.
The Houthis stated that the attack was conducted in response to
alleged Saudi violations of Yemeni airspace. Although no merchant
vessels were reported to have been directly affected, the refinery
supplies the associated terminal, and disruption to refinery
operations could therefore have secondary effects on maritime
activity. The incident demonstrated that the Houthi campaign
continues to combine direct maritime targeting with attacks against
coastal energy infrastructure supporting Saudi port operations.
The Houthis later claimed responsibility, stating that the vessel had
been targeted with a ballistic missile.
The Yanbu incident demonstrated that the threat to Saudi-affiliated
shipping extends into the northern Red Sea and is not confined to the
immediate vicinity of Houthi-controlled territory. Houthi pressure
against Saudi infrastructure also continued during this period. A UAV
attack reportedly targeted the Saudi Aramco refinery in Jazan.
The vessel issued a distress alert following a projectile impact, a fire
reportedly broke out, all crew members were subsequently reported
safe and accounted for, and no environmental impact was identified.
EGYPT
MIDDLE EAST UPDATE
Update from our analyst at Ambrey
Average Weekly Suez Canal Transits: Q3/2026
Source: Lloyds AIS, Observed Data
Suez Canal Per WeekTotalNorthboundSouthbound
Crude
Tanker
Product
Tanker
Dry BulkContainerLPG LNGChemicals
RoRo/
Vehicle
Carrier
Gen Cargo/
MPP
Other
Weekly Average Q3 26
(Week 27-39)
301.44154.44 147.00 77.33 3.33 80.6740.33 6.009.56 35.44 12.22 22.56 14.00
Weekly Average Q2 26
(Week 14-26)
+26.8 +18.2 +8.6-1.0 -1.1 +7.1 +9.3+1.0+3.8 +5.8-0.1 +4.9 -2.8
The recovery in Suez Canal container traffic is increasingly being
seen in ship size rather than vessel numbers. Between 1 January and
25 August 2026, container transits were 6% lower year-on-year at
1,132 vessels, but the capacity carried increased 52% to 6.97 million
TEU. ULCS transits surged from 15 to 146, while vessels of 12,000 TEU
and above now account for 17% of container traffic, up from just 3%
in 2024. The return of BANGKOK MAERSK, a 17,200 TEU vessel,
further signals the gradual return of larger ships to the Canal.
Despite these positive signs, capacity remains 83% below 2023
levels, indicating that the recovery is still underway.
Suez Canal Recovery Gains Momentum
LETH will be attending Breakbulk Americas in Houston on 22–23
September 2026, with Bjørn Jeppesen representing LETH at the
event.
Bjørn has been based in our Panama office for the past year, gaining
valuable experience with Panama Canal transits while continuing to
support our Suez transit operations.
Meeting us at Breakbulk Americas? Feel free to reach out to Bjørn at
[email protected] to arrange a meeting.
We look forward to connecting with customers, partners and
industry colleagues in Houston. See you there!
Meet LETH at Breakbulk Americas MaltaPanama SpainGibraltarDenmarkEgyptSingaporeTurkey
LETH NEWSLETTER SEP 2026
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
PANAMA
Rainfall across the Canal watershed has run 34 percent below
average this year, with inflows down 44 percent. With a
potentially severe El Niño ahead this dry season, the ACP made
a series of changes to the Transit Reservation Booking System
through August. Here is what shipping agents, owners, and
operators need to know.
Effective 21st August 2026, the booking dates beginning 4th September 2026, auction slots designated for Neopanamax, Super, and
Regular vessels may be made available to vessels within specific market segments organized into groups:
To conserve water, the Neopanamax Locks were reduced to 9
daily slots, while the Panamax Locks were reduced to 25 slots, and
further down to 23 from 15 September. Under the tighter capacity,
a maximum of 9 Super vessels per direction may be booked.
Maintenance
Additional changes
The extended 7 day or less 250 % Late Cancellation Surcharge
Fee originally set for September 1 will not take effect as
planned. The ACP will give advance notice before setting a new
date. Read more here.
ACP removed all Regular First Come First Serve slots that were
up for grabs in September, October and November. There are
currently no First Come First Serve slots available in any size
category .
Customer Ranking is frozen as of September 1 and will not
update until further notice . Read more here.
Last Minute Transit Reservation service is suspended, and
forfeited vessels must book a new slot . Read more here.
Changes to the Panama Canal Reservation system
Advisory 29-2026: Daily Transit Slots Reduced
To conserve water, the ACP reduced daily transit capacity twice within two weeks. Effective 21 August, for booking dates from 4
September, Neopanamax capacity was set at 9 daily slots, with only 1 available during Booking Period 2, making the Neopanamax
Conditioned slot unavailable during this period. Panamax capacity was also reduced to 25 daily slots, with just 1 Period 2 slot allocated
to Regular vessels.
Effective 1 September, for booking dates from 15 September, Panamax capacity was further reduced to 23 daily slots, with 8 Period
2 slots allocated to Super vessels. Under this arrangement, a maximum of 9 Super vessels per direction may be booked for transit.
Source: Advisory 29-2026
ADVISORY 28-2026: Transit Reservation System- Rule Modifications
For the latest updates and full details, please refer to the updated
advisories here .
Source: Advisory 29-2026
NEWSLETTER
www.lethagencies.com
YOUR PREFERRED AGENT IN MARITIME HOTSPOTS SEPTEMBER 2026Issue 023
Welcome to this month’s update from LETH! As the maritime industry navigates new challenges, we’re here to keep you informed on
the latest developments and updates.
Featured This Month:
•Panama Canal Update•Middle East Update•LETH at Breakbulk Americas•Suez Canal Update
There has been no further conflict related incident at an Egyptian
port since the July attack on Damietta, Egypt. However, future
attacks against oil and gas facilities are assessed to remain a realistic
possibility given the continuous military engagement between the
US and Iran.
The security environment in the Red Sea remained volatile, with
Houthi activity continuing to pose a direct threat to Saudi-affiliated
tankers. The Houthi ‘maritime embargo’ against Saudi Arabia
remained active and continued to translate into direct attacks
against Saudi-linked shipping. A Saudi Arabia-flagged crude oil
tanker was reportedly attacked approximately 64 NM west of Yanbu
after previously withholding its AIS signal.
The Houthis stated that the attack was conducted in response to
alleged Saudi violations of Yemeni airspace. Although no merchant
vessels were reported to have been directly affected, the refinery
supplies the associated terminal, and disruption to refinery
operations could therefore have secondary effects on maritime
activity. The incident demonstrated that the Houthi campaign
continues to combine direct maritime targeting with attacks against
coastal energy infrastructure supporting Saudi port operations.
The Houthis later claimed responsibility, stating that the vessel had
been targeted with a ballistic missile.
The Yanbu incident demonstrated that the threat to Saudi-affiliated
shipping extends into the northern Red Sea and is not confined to the
immediate vicinity of Houthi-controlled territory. Houthi pressure
against Saudi infrastructure also continued during this period. A UAV
attack reportedly targeted the Saudi Aramco refinery in Jazan.
The vessel issued a distress alert following a projectile impact, a fire
reportedly broke out, all crew members were subsequently reported
safe and accounted for, and no environmental impact was identified.
EGYPT
MIDDLE EAST UPDATE
Update from our analyst at Ambrey
Average Weekly Suez Canal Transits: Q3/2026
Source: Lloyds AIS, Observed Data
Suez Canal Per WeekTotalNorthboundSouthbound
Crude
Tanker
Product
Tanker
Dry BulkContainerLPG LNGChemicals
RoRo/
Vehicle
Carrier
Gen Cargo/
MPP
Other
Weekly Average Q3 26
(Week 27-39)
301.44154.44 147.00 77.33 3.33 80.6740.33 6.009.56 35.44 12.22 22.56 14.00
Weekly Average Q2 26
(Week 14-26)
+26.8 +18.2 +8.6-1.0 -1.1 +7.1 +9.3+1.0+3.8 +5.8-0.1 +4.9 -2.8
The recovery in Suez Canal container traffic is increasingly being
seen in ship size rather than vessel numbers. Between 1 January and
25 August 2026, container transits were 6% lower year-on-year at
1,132 vessels, but the capacity carried increased 52% to 6.97 million
TEU. ULCS transits surged from 15 to 146, while vessels of 12,000 TEU
and above now account for 17% of container traffic, up from just 3%
in 2024. The return of BANGKOK MAERSK, a 17,200 TEU vessel,
further signals the gradual return of larger ships to the Canal.
Despite these positive signs, capacity remains 83% below 2023
levels, indicating that the recovery is still underway.
Suez Canal Recovery Gains Momentum
LETH will be attending Breakbulk Americas in Houston on 22–23
September 2026, with Bjørn Jeppesen representing LETH at the
event.
Bjørn has been based in our Panama office for the past year, gaining
valuable experience with Panama Canal transits while continuing to
support our Suez transit operations.
Meeting us at Breakbulk Americas? Feel free to reach out to Bjørn at
[email protected] to arrange a meeting.
We look forward to connecting with customers, partners and
industry colleagues in Houston. See you there!
Meet LETH at Breakbulk Americas MaltaPanama SpainGibraltarDenmarkEgyptSingaporeTurkey
LETH NEWSLETTER SEP 2026
If you have questions about the statistics in this article or require further information, please reach out to our team at:
[email protected]
PANAMA
Rainfall across the Canal watershed has run 34 percent below
average this year, with inflows down 44 percent. With a
potentially severe El Niño ahead this dry season, the ACP made
a series of changes to the Transit Reservation Booking System
through August. Here is what shipping agents, owners, and
operators need to know.
Effective 21st August 2026, the booking dates beginning 4th September 2026, auction slots designated for Neopanamax, Super, and
Regular vessels may be made available to vessels within specific market segments organized into groups:
To conserve water, the Neopanamax Locks were reduced to 9
daily slots, while the Panamax Locks were reduced to 25 slots, and
further down to 23 from 15 September. Under the tighter capacity,
a maximum of 9 Super vessels per direction may be booked.
Maintenance
Additional changes
The extended 7 day or less 250 % Late Cancellation Surcharge
Fee originally set for September 1 will not take effect as
planned. The ACP will give advance notice before setting a new
date. Read more here.
ACP removed all Regular First Come First Serve slots that were
up for grabs in September, October and November. There are
currently no First Come First Serve slots available in any size
category .
Customer Ranking is frozen as of September 1 and will not
update until further notice . Read more here.
Last Minute Transit Reservation service is suspended, and
forfeited vessels must book a new slot . Read more here.
Changes to the Panama Canal Reservation system
Advisory 29-2026: Daily Transit Slots Reduced
To conserve water, the ACP reduced daily transit capacity twice within two weeks. Effective 21 August, for booking dates from 4
September, Neopanamax capacity was set at 9 daily slots, with only 1 available during Booking Period 2, making the Neopanamax
Conditioned slot unavailable during this period. Panamax capacity was also reduced to 25 daily slots, with just 1 Period 2 slot allocated
to Regular vessels.
Effective 1 September, for booking dates from 15 September, Panamax capacity was further reduced to 23 daily slots, with 8 Period
2 slots allocated to Super vessels. Under this arrangement, a maximum of 9 Super vessels per direction may be booked for transit.
Source: Advisory 29-2026
ADVISORY 28-2026: Transit Reservation System- Rule Modifications
For the latest updates and full details, please refer to the updated
advisories here .
Source: Advisory 29-2026
