Drought-hit Panama Canal lets more unbooked ships pass in bid to ease queue: The drought-hit Panama Canal has temporarily limited the number of new reserved passage slots to help ease a bottleneck of ships that are waiting to transit without reservations, the waterway's authority said on Thursday. A logjam of commercial vessels seeking to pass through the canal, one of the world's busiest trade passages, has sent companies that typically use the waterway chasing alternative routes.  Any delay or disruption can put shippers on edge. The Panama Canal reduces costs and transit times for many shippers, including major retailers and energy companies involved in trade between China and the U.S. As of Aug. 10, there were 161 vessels near the canal, an increase from the about 90 ships typically seen during the rainy season, officials told Reuters. Refinitiv Eikon data showed at least 40 more ships approaching the passage. Source: Reuters Click