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Hormuz Blockage Boosts Panama Canal Oil Tanker Traffic
Asian refiners are rerouting crude through the canal as Iran’s Hormuz disruption drives record slot auctions and 3.5-day waits, officials said.
- On Tuesday, Panamanian Foreign Minister Javier Martinez-Acha reaffirmed the Panama Canal's "neutrality" and the "need to preserve" maritime routes as oil traffic surges to 4-year highs amid the Strait of Hormuz blockade.
- Iran's effective closure of the Strait of Hormuz forced Asian refineries to pivot rapidly to US Gulf Coast crude, with volumes transiting the Panama Canal exceeding 200,000 barrels per day in April.
- Daily transits climbed to 36-38 vessels in April, well above projections; Panama Canal Authority Administrator Ricaurte Vásquez confirmed companies paid up to US$4 million in auction premiums for immediate passage.
- Iran's April 23 seizure of the Panama-flagged MSC Francesca places Panama in an unwilling position within the US-Iran energy dispute, threatening its status as a major ship registry.
- For President José Raúl Mulino, the traffic surge provides revenue flexibility while increasing geopolitical exposure, making 2026 the most consequential year for the waterway since the 1999 US handover.
16 Articles
16 Articles
Panama Canal Rules Out Price Speculation Over Hormuz Blockade : The Tico Times | Costa Rica News
Panama Canal Administrator Ricaurte Vásquez told foreign journalists that the waterway is not speculating on transit prices despite a surge in demand caused by the blockade of the Strait of Hormuz. Nine out of 10 vessels book their crossings in advance through the reservation system. The remaining slots go to the highest bidder in daily auctions that predate the current Middle East conflict. Vásquez said the high bids reflect urgent rerouting de…
Al Arabiya
Hormuz Blockage Boosts Panama Canal Oil Tanker Traffic
Oil tanker traffic through the Panama Canal has jumped in recent weeks as Asia scrambles to buy U.S. crude amid choked supply from the Middle East. The Panama Canal, the fastest route for American energy exports to Asia on smaller vessels, is at its busiest for U.S. crude exports in four years as the closed Strait of Hormuz has forced Asian buyers to source oil from regions other than the Middle East. The price of booking a last-minute slot to h…
Al-Monitor
Panama Canal sees spike in vessel traffic due to war in Middle East
PANAMA CITY, April 28 (Reuters) - The Panama Canal Authority, an autonomous agency that runs the major freight channel through Central America, on Tuesday said the U.S.-Iran war in the Middle East should cause more shipments to travel through the canal."The expectation is that this will continue until the situation in the Middle East is resolved," the agency's finance chief Victor Vial said at a meeting, noting that since October the canal had r…
Panama Canal Oil Traffic Hits 4-Year High on Hormuz Crisis
Key Points — US oil cargoes transiting the Panama Canal exceeded 200,000 barrels per day in April 2026 — close to the highest level since July 2022, according to maritime intelligence firm Kpler. The Panama Canal oil traffic surge reflects Asian refineries’ rapid pivot to American crude as Iran’s effective closure of the Strait of […] The post Panama Canal Oil Traffic Hits 4-Year High on Hormuz Crisis appeared first on The Rio Times.
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