Freight Pulse & Law: Panama Cuts Slots, Jones Act Waiver Extends : What Shippers Must Know

Freight markets are splitting by corridor as water shortages, security risks, congestion, and new compliance deadlines raise the cost of being late. Here is what shippers should act on this week.

Which freight shifts matter now?

Asia–U.S. West Coast container rates rose approximately 9% week over week. Asia–U.S. East Coast rates climbed about 3% to a new high near $9,400/FEU. Meanwhile, Asia–North Europe fell roughly 20% to about $4,700/FEU as peak season cools. Global port congestion is absorbing an estimated 1.7 million TEU of capacity, keeping equipment and vessel space tight. Freightos tracks the widening lane divergence.

Starting September 3, the Panama Canal plans to reduce daily Neopanamax transits to nine and lower vessel drafts because of El Niño-related drought conditions. Expect capacity controls, routing changes, and additional surcharges. ICIS reports draft restrictions already affecting carrier pricing.

Maersk and other liners are also considering Red Sea returns despite continuing attacks. Congestion, longer Cape routes, and the value of restoring schedule reliability are creating powerful incentives: but risk premiums remain.

What legal changes should shippers track?

DHS extended the Jones Act waiver through November 15, 2026. Eligibility now covers 237 HTS codes, primarily energy and agricultural products, and foreign-flag movements require a voyage-by-voyage Vessel Availability Request.

PHMSA’s HM-268 rules take effect September 3: electronic hazmat registration documents are allowed, while electronic payment becomes mandatory. FMCSA revoked 10 ELD devices in July; replacements are due by September 8. Also prepare for DOT brake-check inspections and safety blitzes by auditing logs, brakes, and defect reporting.

What should businesses do now?

• Reprice ocean budgets and model surcharge exposure.

• Confirm Jones Act HTS eligibility before booking.

• Verify hazmat records and ELD compliance before dispatch.

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