April 24, 2026 | 04:21 pm
TEMPO.CO, Jakarta - Transit costs through the Panama Canal have surged following the escalation of conflict in the Middle East and the reported blockade of the Strait of Hormuz, according to canal authorities on Thursday, as cited by Anadolu.
The war launched by the United States and Israel against Iran on February 28 has not only driven up global energy prices but also disrupted traditional maritime routes. As a result, more shipping traffic has been redirected toward the Panama Canal, increasing demand for passage.
Victor Vial, Vice President for Finance at the Panama Canal Authority, said the average auction price for transit slots prior to the conflict ranged between US$135,000 and US$140,000. Since the outbreak of hostilities, however, prices during March and April have climbed sharply, reaching an average of around US$385,000.
Panama Canal Administrator Ricaurte Vásquez Morales said the government is stepping up efforts to ensure the waterway’s operational sustainability amid rising demand and higher cargo volumes in the first half of the 2026 fiscal year.
“Amid all the geopolitical complications unfolding around the world, along with changes and various factors affecting international trade, the Panama Canal remains open and reliable,” he said.
“Especially at this moment, with water levels at an optimal level, we are accommodating an ever-growing volume of traffic.”
Between October 2025 and March 2026, the canal recorded 6,288 vessel transits, up by 224 compared to the same period a year earlier. During that time, a total of 254 million Panama Canal Universal Measurement System (PC/UMS) tons of cargo passed through the waterway.
Traffic levels have remained relatively steady in recent months, averaging 34 ships per day in January and rising to 37 in March. On peak days, daily transits have exceeded 40 vessels.
For ships without prior reservations, the canal continues to offer alternative access through last-minute booking options and an auction system, with three to five transit slots made available each day through bidding.
Read: Trump Says No Nuclear Weapons to Be Used Against Iran
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