Panama Canal Drought Cuts Traffic Again: Panama is preparing to lower average daily transits to 29.5 vessels from October, after already cutting from 36 to 32 in September as El Niño worsens drought and water availability. Strait of Hormuz Shipping Shock: The Strait of Hormuz hit record-low traffic levels, with Iran-US blame flying over tanker incidents and Iran-backed restrictions adding to delays and higher costs. Panama-Flagged Tanker Incident Off Oman: Oman says the Panama-flagged MT El Gaia was towed to port after an engine-room fire; 23 crew were evacuated and 2 remain missing, while India’s MEA reports 13 of 14 Indian nationals rescued and search continues. Regional Conflict Spills Into Trade: Fresh Yemen fighting and Houthi attacks are raising Red Sea and Gulf risks, while oil prices climb on Saudi pipeline outages and renewed infrastructure threats. Banana Market Watch: UK wholesale banana prices stayed steady around £0.97/kg, with Panama listed at £0.99/kg. Co-ops in Focus: Panama hosted ICAO/ICA leadership news as Korea’s Kang Ho-dong was re-elected, underscoring food security and agricultural cooperation.