Freight Pulse & Law Update: Panama Canal Surcharges Climb, Rhine Hits Record Lows, IRS Tightens Jones Act Tax Rules

Freight risk is rising across ocean, inland waterway, road, and tax compliance. Shippers should price new capacity constraints now: not after cargo rolls, barges stop, or tax exposure appears.

What is changing at the Panama Canal?

The Panama Canal Authority will reduce Neopanamax draft limits to 48 feet on August 26 and 47.5 feet on September 3. These are the fourth and fifth adjustments of 2026 as El Niño-related water-management measures tighten. Daily transit slots remain unchanged, but vessels may carry less cargo.

Carriers are responding with new charges:

• MSC: $149/TEU, effective September 12

• CMA CGM: $500/TEU, effective September 10

• ONE: $150/TEU, effective August 10

• Hapag-Lloyd: $130/TEU, effective August 15

Why does the Rhine low-water event matter?

The Kaub gauge has fallen to 7 cm. Barges of roughly 300 TEU are moving at about 20% capacity, while larger vessels cannot transit. Low-water surcharges can reach €1,350/TEU around Kaub and €895/TEU around Cologne. New Rotterdam/Antwerp congestion surcharges effective August 20 add €44 per container for trucking and €50 per container for rail or combined rail-road moves to affected German and Alsace locations. With one barge equivalent to approximately 200 trucks, diverted freight is also creating road and rail congestion.

The IRS guidance on Jones Act waiver voyages adds another compliance concern. Foreign-flagged vessels moving cargo between U.S. ports cannot claim the Section 883 international shipping exemption. Operators may need Form 1120-F filings, with potential 21% corporate tax, branch-profits exposure, or withholding costs passed to charterers.

What should shippers do before September?

• Prepare for CVSA Brake Safety Week, August 23–29.

• Review brake inspection records, cargo documents, and carrier readiness.

• Treat the September 1 Paris/Tokyo MoU cargo-securing campaign as a planning deadline and verify final notices.

• Use third party logistics providers with contingency routing, inventory management for ecommerce, and real-time exception alerts.

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