Ship Pays Record Amount to Cross Panama Canal Amid Drought Restrictions : The Tico Times | Costa Rica News
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6 Articles
Ship Pays Record Amount to Cross Panama Canal Amid Drought Restrictions : The Tico Times | Costa Rica News
A ship paid a record $5.3 million to cross the Panama Canal sooner, just days before a reduction in vessel traffic takes effect due to drought caused by the El Niño weather phenomenon. The canal, which handles 5% of global maritime trade, will reduce the number of ships allowed to pass through each day from 36 to 34 beginning September 3. Twelve days later, the daily limit will fall to 32 to conserve the fresh water needed for operations. The in…
A vessel of liquefied petroleum gas, belonging to the South Korean SK Gas, has made a historic disbursement of $5.3 million to shorten its wait in the Panama Canal, as reported by El Debate in a recent article on this auction.[https://www.eldebate.com/international/20260829/ship-surcoreano-pays-figure-record-53-million-dollar-cross-channel-panama_453291.html] This figure, which marks a new record, arrives in [...] The post A Korean ship pays a t…
The 'Panama Canal risk' is growing as transit fees for the Panama Canal, one of the major gateways for global maritime logistics, recently hit an all-time high.
Panama Canal new capacity cuts put US ports on notice
By Stuart Chirls One of ocean shipping’s critical chokepoints just got a little tighter. The Panama Canal Authority in an advisory to shipping reduced daily vessel transits beginning in September and postponed previously announced draft increases for Neopanamax vessels. The measures reflect a deteriorating outlook linked to below-average rainfall and the prospect of a severe 2026–2027 El Niño weather event.
A South Korean shipping company paid $5.3 million in auction to obtain a quota and high demand presses prices
Panama Canal introduces Temporary Booking System Adjustments to Increase Flexibility and Equitable Slot Access
Panama Canal Panama City, Panama, August 28, 2026 – The Panama Canal announced temporary modifications to its Transit Reservation (Booking) System for Neopanamax vessels aimed at providing customers with greater flexibility, improving the distribution of available capacity across market segments, and encouraging the efficient use of water resources. The adjustments reflect the Panama Canal’s continued commitment...
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