Panama Canal: US$4M Per Slot as Hormuz Blockade Reroutes Trade

Panama Canal: US$4M Per Slot as Hormuz Blockade Reroutes Trade

Key Points —The Panama Canal Authority confirmed that companies paid up to US$4 million in last-minute auction fees per transit in recent weeks — versus the standard flat rate of US$300,000 to US$400,000. —Auction premiums have risen from roughly US$135,000-US$250,000 earlier this year to US$385,000-US$425,000 most weeks, with peak payments of US$3 million-plus from oil […] The post Panama Canal: US$4M Per Slot as Hormuz Blockade Reroutes Trade …

E&E News: Businesses dole out to cross Panama Canal during Hormuz choke hold

Oil companies paid an excess of $3 million in addition to the crossing fee to accelerate their passage in the face of soaring oil prices.

Shipping Frenzy Drives Panama Canal Fees to Record Highs | The Middle East Observer

Global trade is undergoing a sharp and costly realignment as companies reroute shipments away from the disrupted Strait of Hormuz, driving unprecedented demand—and prices—at the Panama Canal, according to officials and industry analysts. Businesses are reportedly paying up to $4 million for priority transit slots, far above standard crossing fees, as vessels seek safer and […]