Broker and analysts highlight how the auction system allows shipowners to “skip the line” by paying a surcharge
Panama – The costs for securing a passage through the Panama Canal have reached record levels, with shipowners willing to pay up to 4 million dollars per single vessel in order to obtain a transit slot. According to analysts from Brs Shipbrokers and Clarksons Securities, the market is witnessing the return of multi-million dollar auctions to quickly cross one of the most strategic maritime routes in the world. The sharp price surge is linked to the increase in tanker traffic between the United States Gulf and Asia. With much of the exports from the Middle East blocked west of the Strait of Hormuz due to restrictions and tensions in the area, many operators are favoring alternative routes through Panama to reach Asian markets. Broker and analysts highlight how the Panama Canal’s auction system allows shipowners to “skip the line” by paying a surcharge for immediate passage, a model already seen during periods of greater congestion and during the water crisis that in recent years had reduced the number of available daily transits.
The return of such high tariffs underscores not only the strategic centrality of the Panama Canal in global traffic, but also the growing volatility of the world’s energy routes.
